{ "schemaVersion": "deck-intelligence.v1", "id": "019de06f-d9a1-735f-959a-e30273754aed", "slug": "691966eef50cfb03f89086f3d5826f32", "title": "Houlihan Lokey | Investment Banking Pitch Book | 26 slides", "subtitle": "Houlihan Lokey · 2019-08", "author": "Houlihan Lokey", "date": "2019-08-01 00:00:00", "pageCount": 26, "kind": "consulting-deck", "orientation": "landscape", "aspectRatio": 1.3351878, "document": { "id": "019de06f-d9a1-735f-959a-e30273754aed", "slug": "691966eef50cfb03f89086f3d5826f32", "title": "Houlihan Lokey | Investment Banking Pitch Book | 26 slides", "rawTitle": "Houlihan Lokey | Investment Banking Pitch Book | 26 slides", "authorId": "houlihan-lokey", "authorName": "Houlihan Lokey", "authorDisplay": "Houlihan Lokey", "kind": { "slug": "consulting-deck", "label": "Consulting deck" }, "sourceType": { "slug": "investment_bank", "label": "Investment bank" }, "fileName": "2019-08__houlihan-lokey__ib-pitchbook__691966ee.pdf", "sourceUrl": "https://www.slidebook.io/company/houlihan-lokey/presentation/691966eef50cfb03f89086f3d5826f32/", "sourceDate": "2019-08-30 00:00:00", "presentationDate": "2019-08-01 00:00:00", "ingestedAt": "2026-04-30 22:08:39.945494+00", "status": "ready", "pageCount": 26, "orientation": "landscape", "aspectRatio": 1.3351878, "targetCompany": null, "targetTicker": null, "metadata": { "corpus": "slidebook", "industry": "capital-markets", "local_root": "/Users/miguelsuredasuau/Desktop/lalalalla/_scrape/slidebook/decks/2019-08__houlihan-lokey__ib-pitchbook__691966ee", "image_width": 1920, "image_format": "jpg", "deck_type_raw": "Investment Banking Pitch Book", "deck_type_slug": null, "source_url_pattern": "https://www.slidebook.io/company/{company_slug}/presentation/{deck_id}/" } }, "coverage": { "pageCount": 26, "pagesIndexed": 26, "pagesWithImages": 26, "pagesWithMetadata": 26, "imageCoveragePct": 100, "metadataCoveragePct": 100, "componentCount": 89, "chartCount": 7, "metricSlides": 0, "toolMatches": 9, "documentToolMatches": 0, "frameworkMatches": 2, "arcMatches": 1, "beatMatches": 4, "loopMatches": 2, "patternMatches": 0, "storymakersMatch": false, "scoreAvailable": true, "reviewAvailable": true, "activistThesisAvailable": false, "pitchdeckMetadataAvailable": false, "pitchdeckProfileAvailable": false }, "blocks": [], "matches": { "arcs": [ { "arc": { "name": "The Consultant's Gambit", "slug": "consultants-gambit", "status": "active", "bestFor": "Business cases, project proposals, strategic recommendations", "canonId": "019dd956-5e0a-73c8-b305-81c38c959e9c", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Situation & Context -> Problem & Complication -> Solution & Approach -> Evidence & Proof -> Impact & Next Steps", "description": null, "familyLabel": null, "categoryName": "Strategy & Business", "categorySlug": "strategy-business" }, "matchId": "6f5fb952-0f3c-4526-8864-c8858ca3a74d", "evidence": "The document follows a typical structure of a consulting pitch book, with a clear situation and context, problem and complication, solution and approach, and evidence and proof.", "isPrimary": true, "confidence": 0.8, "extraction": { "at": "2026-07-16 22:08:02.24772+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "beats": [ { "to": 4, "arc": { "name": "The Consultant's Gambit", "slug": "consultants-gambit", "status": "active", "bestFor": "Business cases, project proposals, strategic recommendations", "canonId": "019dd956-5e0a-73c8-b305-81c38c959e9c", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Situation & Context -> Problem & Complication -> Solution & Approach -> Evidence & Proof -> Impact & Next Steps", "description": null, "familyLabel": null, "categoryName": "Strategy & Business", "categorySlug": "strategy-business" }, "from": 1, "name": "Situation & Context", "beatId": "0f2f7aca-1c47-4ec7-954a-cb22576a323b", "matchId": "6f5fb952-0f3c-4526-8864-c8858ca3a74d", "beatType": { "name": "Situation & Context", "slug": "consultants-gambit-situation-context", "status": "active", "canonId": "019dd9b8-05ae-741b-992d-65ee83c639b3", "version": 1, "description": null }, "evidence": "The executive summary and table of contents provide an overview of the situation and context.", "position": 0, "isPrimaryArc": true, "parentBeatType": { "name": "Setup", "slug": "setup", "status": "active", "canonId": "019dd9b8-020e-7505-af9b-d9b9a4679bcc", "version": 1, "description": "Where the deck grounds the reader before doing anything else. Almost every arc opens here." }, "alignedBlockIds": null, "matchConfidence": 0.8 }, { "to": 9, "arc": { "name": "The Consultant's Gambit", "slug": "consultants-gambit", "status": "active", "bestFor": "Business cases, project proposals, strategic recommendations", "canonId": "019dd956-5e0a-73c8-b305-81c38c959e9c", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Situation & Context -> Problem & Complication -> Solution & Approach -> Evidence & Proof -> Impact & Next Steps", "description": null, "familyLabel": null, "categoryName": "Strategy & Business", "categorySlug": "strategy-business" }, "from": 7, "name": "Problem & Complication", "beatId": "ee6b3c1d-a085-4ec9-9d71-ba049847dcc5", "matchId": "6f5fb952-0f3c-4526-8864-c8858ca3a74d", "beatType": { "name": "Problem & Complication", "slug": "consultants-gambit-problem-complication", "status": "active", "canonId": "019dd9b8-064a-777f-a374-e9a8c43dedd4", "version": 1, "description": null }, "evidence": "The financial analysis section presents a problem or complication related to the investment opportunity.", "position": 1, "isPrimaryArc": true, "parentBeatType": { "name": "Complication", "slug": "complication", "status": "active", "canonId": "019dd9b8-0275-7709-b2d6-4f77c3fc7579", "version": 1, "description": "The point in the narrative where the audience should feel discomfort. Required for argumentative arcs." }, "alignedBlockIds": null, "matchConfidence": 0.8 }, { "to": 12, "arc": { "name": "The Consultant's Gambit", "slug": "consultants-gambit", "status": "active", "bestFor": "Business cases, project proposals, strategic recommendations", "canonId": "019dd956-5e0a-73c8-b305-81c38c959e9c", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Situation & Context -> Problem & Complication -> Solution & Approach -> Evidence & Proof -> Impact & Next Steps", "description": null, "familyLabel": null, "categoryName": "Strategy & Business", "categorySlug": "strategy-business" }, "from": 11, "name": "Evidence & Proof", "beatId": "d63cb973-0516-4925-97ea-65a17a0a0151", "matchId": "6f5fb952-0f3c-4526-8864-c8858ca3a74d", "beatType": { "name": "Evidence & Proof", "slug": "consultants-gambit-evidence-proof", "status": "active", "canonId": "019dd9b8-07b1-7688-8e1e-7637fec3802a", "version": 1, "description": null }, "evidence": "The case study section provides evidence and proof of the potential investment opportunity.", "position": 2, "isPrimaryArc": true, "parentBeatType": { "name": "Evidence", "slug": "evidence", "status": "active", "canonId": "019dd9b8-03f9-772a-b84a-4f07b415b77a", "version": 1, "description": "A dedicated proof beat exists in only ~4 arcs (Gambit, Sequoia, AIDA, Monroes). Other arcs embed evidence inline within development." }, "alignedBlockIds": null, "matchConfidence": 0.8 }, { "to": 20, "arc": { "name": "The Consultant's Gambit", "slug": "consultants-gambit", "status": "active", "bestFor": "Business cases, project proposals, strategic recommendations", "canonId": "019dd956-5e0a-73c8-b305-81c38c959e9c", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Situation & Context -> Problem & Complication -> Solution & Approach -> Evidence & Proof -> Impact & Next Steps", "description": null, "familyLabel": null, "categoryName": "Strategy & Business", "categorySlug": "strategy-business" }, "from": 14, "name": "Impact & Next Steps", "beatId": "6ba495a3-b595-4e81-9c54-b10bb22a34bd", "matchId": "6f5fb952-0f3c-4526-8864-c8858ca3a74d", "beatType": { "name": "Impact & Next Steps", "slug": "consultants-gambit-impact-next-steps", "status": "active", "canonId": "019dd9b8-0849-7728-9ee9-fd1609c4c655", "version": 1, "description": null }, "evidence": "The appendix data section presents additional information and next steps related to the investment opportunity.", "position": 3, "isPrimaryArc": true, "parentBeatType": { "name": "Resolution", "slug": "resolution", "status": "active", "canonId": "019dd9b8-045d-703b-8dd7-e92aba3ba91b", "version": 1, "description": "How the deck ends. Required in 19/20 arcs. The exception (Sparkline) ends with new bliss which is functionally a resolution." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [ { "to": 9, "from": 7, "loop": { "name": "01_logic_chain", "slug": "01-logic-chain", "status": "active", "bestFor": "Skeptical audiences, controversial recommendations, rigorous analysis", "canonId": "019dd956-6638-7457-8650-9b0b42e59fb3", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "Premise 1 (Accepted truth) -> Premise 2 (Observed fact) -> Therefore... (Inevitable conclusion)", "description": "Build an airtight chain of logic where each premise leads inevitably to the conclusion", "familyLabel": null, "categoryName": "Logical Reasoning", "categorySlug": "logical-reasoning" }, "matchId": "a9f6b006-7251-4a68-85e6-d91a2326a404", "evidence": "The financial analysis section presents a clear logical chain of reasoning.", "position": 0, "objective": "To present a logical chain of financial analysis and reasoning", "confidence": 0.6, "extraction": { "at": "2026-07-16 22:08:02.450165+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } }, { "to": 12, "from": 11, "loop": { "name": "03_aha_moment", "slug": "03-aha-moment", "status": "active", "bestFor": "Data-heavy sections, research findings, analytical arguments", "canonId": "019dd956-66f4-7668-ab25-cec9c996c0bc", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "The Problem/Question -> What the Data Shows -> The Insight", "description": "Establish a tension, present data, then deliver the insight that changes everything", "familyLabel": null, "categoryName": "Narrative", "categorySlug": "narrative" }, "matchId": "a1c2eadb-2c87-4e33-9a95-4daa0de26339", "evidence": "The case study section presents a key insight or aha moment related to the investment opportunity.", "position": 1, "objective": "To present a key insight or aha moment", "confidence": 0.6, "extraction": { "at": "2026-07-16 22:08:02.486449+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "tools": [ { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "35cf0001-7ea4-4891-9942-3ce779f180bd", "evidence": "Financial table showing Status Quo and Pro Forma EPS calculations for 2019E-2021E.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:26:13.279911+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 9, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "List presentation", "slug": "list-presentation", "status": "active", "bestFor": null, "canonId": "019dd9e1-4ef7-777d-ba68-9074c2b3bcf1", "version": 1, "bodyDocId": null, "description": "Bulleted, numbered, or checklist enumerations.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "ef2149b5-9d78-409d-aff7-73039cbe3748", "evidence": "list/numbered: 1. Executive Summary 3 2. Additional Considerations 5", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.8, "extraction": { "at": "2026-07-16 23:26:13.361931+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 10, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "1183616c-ebf3-405d-ab44-0311246d0ad0", "evidence": "table/data: C&J Energy Services financial data table", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.8, "extraction": { "at": "2026-07-16 23:26:13.441461+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 11, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "83cd91b1-8d73-4cf5-9144-30de2d0b09c9", "evidence": "table/data: Nuverra Environmental Solutions financial data table", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.8, "extraction": { "at": "2026-07-16 23:26:13.521817+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 12, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "734d2363-ba71-4ad8-ae02-6983c370a456", "evidence": "table/data: Illustrative % of Shares Outstanding Cashed Out in Stock Splits sensitivity table", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:26:13.60416+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 14, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "6cb6d6d3-94e6-42b6-a901-1cadec69d938", "evidence": "disclaimer: 1. Reflects Cash-Out Price per Share divided by One-Day Pre-Announcement Share Price.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.8, "extraction": { "at": "2026-07-16 23:26:13.68584+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 15, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "8664da82-9c08-4a03-b098-feed2b0f83f2", "evidence": "table/data: 1:100 Reverse Stock Split Table", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:26:13.76678+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 16, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "b8e9cac2-0f2c-4795-b776-2b580ad1a566", "evidence": "table/data: Table containing columns: Announced, Going-Dark Entity, Transaction Value, Shares Outstanding", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:26:13.847936+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 19, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "4b70e047-8c79-46aa-9752-8d503500aefe", "evidence": "table/data: Table containing transaction data for 25 entities across 12 columns, plus summary statistics row.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:26:13.929255+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 20, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [ { "matchId": "a5fda828-a1a1-449e-9af9-6966405b64fd", "evidence": "Comparison of transaction metrics against a set of precedents.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 14:12:44.153+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 15, "frameworkName": "peer_benchmark" }, { "matchId": "92910502-d6d9-4756-9655-3c63b00c7b3f", "evidence": "The tables show the impact of varying two input variables (Cash-Out Price and Market Trading Price) on a single output metric.", "framework": null, "confidence": 1, "extraction": { "at": "2026-05-02 14:12:44.499+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 16, "frameworkName": "sensitivity_analysis" } ], "patterns": [] }, "storymakers": null, "score": { "backend": "codex", "scoredAt": "2026-05-02 19:25:59.891+00", "subScores": { "scqa_arc": 34, "action_titles": 18, "mece_structure": 52, "closing_strength": 8, "evidence_quality": 82, "clarity_of_thesis": 42, "production_quality": 43, "visual_storytelling": 58 }, "totalScore": 42, "coveragePct": 100, "explanations": { "scqa_arc": "The deck has a Situation in slide 4, but it does not build a clear Complication, Question, and Answer, instead moving into analytical exhibits.", "action_titles": "Most titles are topic labels rather than insight sentences, for example slide 7: \"Selected Illustrative Accretion / Dilution Calculations\".", "mece_structure": "The major sections are mostly separable by analysis type, but repeated tables of contents and overlapping premium, stockholder-value, and precedent analyses leave the decision logic incomplete.", "closing_strength": "There is no recommendation or next-step close; the deck ends with glossary, disclaimers, and a back cover on slides 22-26.", "evidence_quality": "Claims are strongly supported by detailed financial tables, peer observations, and precedent transaction data on slides 7-20, though several analyses are explicitly illustrative and assumption-dependent.", "clarity_of_thesis": "Slide 4 identifies the scope of additional analyses requested, but the first five slides do not state a declarative thesis or recommended answer.", "production_quality": "The deck has banking-style footnote discipline, but low action-title density, repeated agenda slides, dense tables, and inconsistent storytelling weight reduce polish.", "visual_storytelling": "Slides 7-20 use appropriate banking tools such as sensitivity tables, market charts, callouts, and precedent tables, but many are overcrowded and do not visually ladder to a single message." }, "slidesAnalyzed": 26 }, "review": { "backend": "claude", "verdict": "A textbook investment-bank pitch book — analytically rigorous and well-footnoted, but as a Storymakers exemplar it is a weak case: topic-labelled charts, no thesis, no recommendation, and TOC slides standing in for a narrative spine.", "reviewedAt": "2026-05-02 22:20:19.069+00", "slidesSeen": 26, "suggestions": [ "Replace slide 4's 'scope' list with a 3-bullet SCQA: situation (why Project Mountain), complication (the trade-off being weighed), answer (the recommended cash-out range or split ratio)", "Collapse the 10 TOC slides into 3-4 true section dividers, each carrying a one-line action title that states what the section will prove", "Rewrite every chart title from noun-phrase to declarative — e.g. slide 7 becomes 'A 1:100 reverse split is EBITDA/share accretive across all three forecast years'", "Add a synthesis slide before the appendix (between slides 20 and 22) that names a recommended premium range and split ratio with rationale", "Move slides 19-20 (300+ data-point precedent tables) and slide 22 (glossary) behind a single 'Appendix' divider so the body of the deck ends on the synthesis" ], "closingScore": 22, "openingScore": 42, "topStrengths": [ "Slide 15 carries an actual numeric callout ('-49% to 86% implied one-day premium'), the only slide that approaches an action-title insight", "Dense, well-footnoted financial tables (slides 7-9, 19-20) with explicit management-estimate caveats — strong analytical rigor", "Consistent comparable case-study pairing on slides 11-12 with both debt tables and indexed share-price charts" ], "topWeaknesses": [ "Ten table-of-contents slides in a 26-page deck (~38%) — navigational scaffolding has crowded out narrative", "No recommendation or 'so what' slide anywhere; the deck ends on disclaimer (slide 25) and a back cover (slide 26)", "Every analytical title uses 'Selected Illustrative...' hedging — signals the bank is showing options, never taking a position", "Executive summary (slide 4) is a list of analyses performed, not a synthesis of findings" ], "narrativeScore": 38, "pillarCritique": "The repeated TOC slides act as topic-dump dividers, not MECE pillars — sections cover accretion/dilution, post-restructuring case studies, premium sensitivity, and going-dark precedents, which are parallel analytical exercises rather than mutually exclusive arguments building to a recommendation.", "closingCritique": "The last five non-appendix slides (22 glossary, 23 TOC, 24-25 disclaimers, 26 back cover) contain zero recommendation, next steps, or memorable close. The deck simply trails off into legal boilerplate after a precedent-transaction table.", "openingCritique": "Slides 1-5 establish topic ('Additional Considerations') but never the answer or stakes — the exec summary on slide 4 describes the scope of analyses requested rather than leading with a thesis, and three of the first six slides are tables of contents. A reader has to wait until slide 7 to see any substantive content.", "extractionSeconds": 103.846, "narrativeCritique": "The deck reads as an analytical appendix dump rather than a story arc — there is a Setup (slides 1-4) and extensive Analysis (7-20), but no Tension/Complication framing and no Resolution; it ends in glossary + disclaimer + back cover with no synthesis. The 10 repeated table-of-contents slides (2, 3, 5, 6, 10, 13, 17, 18, 21, 23) signal a navigational structure substituting for a narrative spine.", "titleQualityScore": 24, "titleQualityCritique": "Titles are noun-phrase topic labels with hedging adjectives, not action titles. Examples: 'Selected Illustrative Accretion / Dilution Calculations' (slide 7) and 'Effect of Premium on Continuing Stockholder Value' (slide 14) describe the chart's subject but state no insight — a Storymakers title would read e.g. 'A 1:100 split is dilutive to EPS in 2019E but accretive by 2021E.'" }, "activistThesis": null, "pitchdeck": { "metadata": null, "profile": null }, "slides": [ { "page": 1, "type": "setup", "function": "front_matter", "imagePath": "https://imgproxy.kitesheet.com/mFpbw3ABd6CkZNB8qpl58gBNO4cMS4rEb6jg5ydKlvA/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy82OTE5NjZlZWY1MGNmYjAzZjg5MDg2ZjNkNTgyNmYzMi9wMDAxLmpwZw", "rawType": "cover", "block": null, "metadata": { "slideType": "cover", "slideTypeCanon": { "name": "Cover", "slug": "cover", "status": "active", "canonId": "019de52d-05f2-729d-9f93-e0504f0a2410", "version": 1, "description": null }, "function": "front_matter", "functionCanon": { "name": "Front matter", "slug": "front_matter", "status": "active", "canonId": "019de52d-133d-73f0-9e26-201eda96b098", "version": 1, "description": null }, "density": "sparse", "densityScore": 23, "componentCount": 5, "textChars": 205, "nDataPoints": 0, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:12:42.164+00", "seconds": 3.276, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de06f-d9a1-735f-959a-e30273754aed/1", "deck": "/decks/019de06f-d9a1-735f-959a-e30273754aed", "deckAnchor": "/decks/019de06f-d9a1-735f-959a-e30273754aed#slide-1", "deckJson": "/decks/019de06f-d9a1-735f-959a-e30273754aed.json" }, "components": [ { "bbox": { "h": 0.04, "w": 0.17, "x": 0.06, "y": 0.06 }, "kind": "image", "text": "Houlihan Lokey", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Logo", "slug": "logo", "status": "active", "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302", "version": 1, "description": null }, "framework": null }, "subkind": "logo", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:42.164+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "78fcb8f3-b983-4c5e-8223-a24ff363032a", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.88, "x": 0.06, "y": 0.9 }, "kind": "paragraph", "text": "AUGUST 30, 2019 | CONFIDENTIAL - PRELIMINARY - SUBJECT TO FURTHER REVIEW", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:42.164+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "db351e4e-d6ba-44ae-bdb0-f19fbe9e7d40", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.07, "x": 0.88, "y": 0.04 }, "kind": "source-note", "text": "Exhibit (c)(ii)", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:42.164+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "2e2c5339-022e-41bc-add4-93d498fc8a08", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.88, "x": 0.06, "y": 0.63 }, "kind": "title", "text": "Project Mountain – Additional Considerations", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:42.164+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "282f4d03-f710-4f32-8591-d2617175232c", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.88, "x": 0.06, "y": 0.73 }, "kind": "title", "text": "PRESENTATION TO THE FINANCE AND STRATEGIC PLANNING COMMITTEE", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Subtitle", "slug": "subtitle", "status": "active", "canonId": "019de52c-fb09-739d-900c-815b0d9ac526", "version": 1, "description": null }, "framework": null }, "subkind": "subtitle", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:42.164+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "6bdc999c-b779-4c03-9fd1-db8f8ebe4ca7", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [ { "to": 4, "arc": { "name": "The Consultant's Gambit", "slug": "consultants-gambit", "status": "active", "bestFor": "Business cases, project proposals, strategic recommendations", "canonId": "019dd956-5e0a-73c8-b305-81c38c959e9c", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Situation & Context -> Problem & Complication -> Solution & Approach -> Evidence & Proof -> Impact & Next Steps", "description": null, "familyLabel": null }, "from": 1, "name": "Situation & Context", "beatId": "0f2f7aca-1c47-4ec7-954a-cb22576a323b", "matchId": "6f5fb952-0f3c-4526-8864-c8858ca3a74d", "beatType": { "name": "Situation & Context", "slug": "consultants-gambit-situation-context", "status": "active", "canonId": "019dd9b8-05ae-741b-992d-65ee83c639b3", "version": 1, "description": null }, "evidence": "The executive summary and table of contents provide an overview of the situation and context.", "position": 0, "isPrimaryArc": true, "parentBeatType": { "name": "Setup", "slug": "setup", "status": "active", "canonId": "019dd9b8-020e-7505-af9b-d9b9a4679bcc", "version": 1, "description": "Where the deck grounds the reader before doing anything else. Almost every arc opens here." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "thumbSrc": "https://imgproxy.kitesheet.com/mesUoFAfLQf_eRZKDVujhgqyZa_opsaBFcgB6ThrMtE/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy82OTE5NjZlZWY1MGNmYjAzZjg5MDg2ZjNkNTgyNmYzMi9wMDAxLmpwZw", "imagePathAlt": "https://imgproxy.kitesheet.com/mzBO0JKZqwz9hW8boQV5KhyvcBNcDkBlDRMtes3IgAY/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy82OTE5NjZlZWY1MGNmYjAzZjg5MDg2ZjNkNTgyNmYzMi9wMDAxLnBuZw", "thumbSrcAlt": "https://imgproxy.kitesheet.com/ZYhm6ZmNmHFUVZj6uKp2c4Ug4-OX54CDcyVkJuK2dp8/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy82OTE5NjZlZWY1MGNmYjAzZjg5MDg2ZjNkNTgyNmYzMi9wMDAxLnBuZw" }, { "page": 2, "type": "setup", "function": "front_matter", "rawType": "table_of_contents", "block": null, "metadata": { "slideType": "table_of_contents", "slideTypeCanon": { "name": "Table of contents", "slug": "table_of_contents", "status": "active", "canonId": "019de52d-0643-721b-9b85-69676bb85cf8", "version": 1, "description": null }, "function": "front_matter", "functionCanon": { "name": "Front matter", "slug": "front_matter", "status": "active", "canonId": "019de52d-133d-73f0-9e26-201eda96b098", "version": 1, "description": null }, "density": "sparse", "densityScore": 18, "componentCount": 2, "textChars": 406, "nDataPoints": 0, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:12:41.786+00", "seconds": 2.429, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de06f-d9a1-735f-959a-e30273754aed/2", "deck": "/decks/019de06f-d9a1-735f-959a-e30273754aed", "deckAnchor": "/decks/019de06f-d9a1-735f-959a-e30273754aed#slide-2", "deckJson": "/decks/019de06f-d9a1-735f-959a-e30273754aed.json" }, "components": [ { "bbox": { "h": 0.333, "w": 0.796, "x": 0.104, "y": 0.194 }, "kind": "list", "text": "1. Executive Summary 3\n2. Additional Considerations 5\n Selected Illustrative Accretion / Dilution Calculations 6\n Selected Post-Restructured Company Market Observations 10\n Selected Illustrative Precedent \"Going-Dark\" Transaction Observations 13\n3. Appendix 17\n Additional Illustrative Precedent \"Going-Dark\" Transactions Detail 18\n Glossary of Selected Terms 21\n4. Disclaimer 23", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Numbered list", "slug": "numbered", "status": "active", "canonId": "019de52c-fcc0-7718-a284-a4250c805df2", "version": 1, "description": null }, "framework": null }, "subkind": "numbered", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:41.786+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "35711d63-35ed-4ae6-bdb2-59520f56e373", "parentComponentId": null }, { "bbox": { "h": 0.038, "w": 0.282, "x": 0.028, "y": 0.056 }, "kind": "title", "text": "Table of Contents", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:41.786+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "6c706173-5136-468f-b685-52cdae1a1f70", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [ { "to": 4, "arc": { "name": "The Consultant's Gambit", "slug": "consultants-gambit", "status": "active", "bestFor": "Business cases, project proposals, strategic recommendations", "canonId": "019dd956-5e0a-73c8-b305-81c38c959e9c", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Situation & Context -> Problem & Complication -> Solution & Approach -> Evidence & Proof -> Impact & Next Steps", "description": null, "familyLabel": null }, "from": 1, "name": "Situation & Context", "beatId": "0f2f7aca-1c47-4ec7-954a-cb22576a323b", "matchId": "6f5fb952-0f3c-4526-8864-c8858ca3a74d", "beatType": { "name": "Situation & Context", "slug": "consultants-gambit-situation-context", "status": "active", "canonId": "019dd9b8-05ae-741b-992d-65ee83c639b3", "version": 1, "description": null }, "evidence": "The executive summary and table of contents provide an overview of the situation and context.", "position": 0, "isPrimaryArc": true, "parentBeatType": { "name": "Setup", "slug": "setup", "status": "active", "canonId": "019dd9b8-020e-7505-af9b-d9b9a4679bcc", "version": 1, "description": "Where the deck grounds the reader before doing anything else. Almost every arc opens here." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true }, { "page": 3, "type": "setup", "function": "front_matter", "rawType": "table_of_contents", "block": null, "metadata": { "slideType": "table_of_contents", "slideTypeCanon": { "name": "Table of contents", "slug": "table_of_contents", "status": "active", "canonId": "019de52d-0643-721b-9b85-69676bb85cf8", "version": 1, "description": null }, "function": "front_matter", "functionCanon": { "name": "Front matter", "slug": "front_matter", "status": "active", "canonId": "019de52d-133d-73f0-9e26-201eda96b098", "version": 1, "description": null }, "density": "sparse", "densityScore": 8, "componentCount": 1, "textChars": 85, "nDataPoints": 4, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:12:41.912+00", "seconds": 1.81, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de06f-d9a1-735f-959a-e30273754aed/3", "deck": "/decks/019de06f-d9a1-735f-959a-e30273754aed", "deckAnchor": "/decks/019de06f-d9a1-735f-959a-e30273754aed#slide-3", "deckJson": "/decks/019de06f-d9a1-735f-959a-e30273754aed.json" }, "components": [ { "bbox": { "h": 0.3, "w": 0.8, "x": 0.1, "y": 0.2 }, "kind": "table", "text": "1. Executive Summary 3\n2. Additional Considerations 5\n3. Appendix 17\n4. Disclaimer 23", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:41.912+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a1d58069-7b76-4f41-a9f9-930beab0ff05", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [ { "to": 4, "arc": { "name": "The Consultant's Gambit", "slug": "consultants-gambit", "status": "active", "bestFor": "Business cases, project proposals, strategic recommendations", "canonId": "019dd956-5e0a-73c8-b305-81c38c959e9c", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Situation & Context -> Problem & Complication -> Solution & Approach -> Evidence & Proof -> Impact & Next Steps", "description": null, "familyLabel": null }, "from": 1, "name": "Situation & Context", "beatId": "0f2f7aca-1c47-4ec7-954a-cb22576a323b", "matchId": "6f5fb952-0f3c-4526-8864-c8858ca3a74d", "beatType": { "name": "Situation & Context", "slug": "consultants-gambit-situation-context", "status": "active", "canonId": "019dd9b8-05ae-741b-992d-65ee83c639b3", "version": 1, "description": null }, "evidence": "The executive summary and table of contents provide an overview of the situation and context.", "position": 0, "isPrimaryArc": true, "parentBeatType": { "name": "Setup", "slug": "setup", "status": "active", "canonId": "019dd9b8-020e-7505-af9b-d9b9a4679bcc", "version": 1, "description": "Where the deck grounds the reader before doing anything else. Almost every arc opens here." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true }, { "page": 4, "type": "setup", "title": "The slide includes a prominent disclaimer box at the bottom regarding the illustrative nature of the financial analyses.", "function": "summarize", "rawType": "executive_summary", "block": null, "metadata": { "slideType": "executive_summary", "slideTypeCanon": { "name": "Executive summary", "slug": "executive_summary", "status": "active", "canonId": "019de52d-06be-73ff-81b3-f99fe7f0025e", "version": 1, "description": null }, "function": "summarize", "functionCanon": { "name": "Summarize", "slug": "summarize", "status": "active", "canonId": "019de52d-1541-704f-b86f-bf7b75056373", "version": 1, "description": null }, "density": "dense", "densityScore": 58, "componentCount": 6, "textChars": 1090, "nDataPoints": 0, "notes": "The slide includes a prominent disclaimer box at the bottom regarding the illustrative nature of the financial analyses.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:12:43.239+00", "seconds": 3.034, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de06f-d9a1-735f-959a-e30273754aed/4", "deck": "/decks/019de06f-d9a1-735f-959a-e30273754aed", "deckAnchor": "/decks/019de06f-d9a1-735f-959a-e30273754aed#slide-4", "deckJson": "/decks/019de06f-d9a1-735f-959a-e30273754aed.json" }, "components": [ { "bbox": { "h": 0.15, "w": 0.9, "x": 0.05, "y": 0.8 }, "kind": "disclaimer", "text": "The accretion/dilution calculations, financial analyses and other information included herein are provided solely for the information of the Finance and Strategic Planning Committee...", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:43.239+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "bc3c6e64-e049-41c3-bdd2-3e4d38119ae5", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.9, "x": 0.05, "y": 0.55 }, "kind": "list", "text": "Other process items for Houlihan Lokey: Transaction structure due diligence; Market updates; Projections updates; Follow-up due diligence.", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:43.239+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "1373c465-e2be-4329-b4ec-70b7bb410909", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.9, "x": 0.05, "y": 0.12 }, "kind": "list", "text": "The illustrative financial analyses and information contained in this presentation do not relate to the opinion. The Finance and Strategic Planning Committee has requested that Houlihan Lokey provide certain additional illustrative financial analyses on certain potential impacts of a potential transaction on the Continuing Stockholders and the Company.", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:43.239+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "2869af56-aafc-42f8-8e46-5cbb3ff33f8d", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.9, "x": 0.05, "y": 0.28 }, "kind": "list", "text": "Overview of additional illustrative financial analyses and selected key takeaways: Selected illustrative accretion / dilution calculations; Selected post-restructured company public equity market performance; Selected illustrative precedent \"going-dark\" transactions observations.", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:43.239+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "366328bd-29ce-4d95-b3ec-ee43fbf658f2", "parentComponentId": null }, { "bbox": { "h": 0.08, "w": 0.9, "x": 0.05, "y": 0.45 }, "kind": "list", "text": "Key next deliverables for Houlihan Lokey: Final presentation(s) regarding the opinion and related financial analyses.", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:43.239+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "d1a7caa3-973d-4c44-8d4e-aa57b81a29aa", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.3, "x": 0.05, "y": 0.05 }, "kind": "title", "text": "Executive Summary", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:43.239+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "1474379d-fcd4-438c-98fa-8c7f1d0c689e", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [ { "to": 4, "arc": { "name": "The Consultant's Gambit", "slug": "consultants-gambit", "status": "active", "bestFor": "Business cases, project proposals, strategic recommendations", "canonId": "019dd956-5e0a-73c8-b305-81c38c959e9c", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Situation & Context -> Problem & Complication -> Solution & Approach -> Evidence & Proof -> Impact & Next Steps", "description": null, "familyLabel": null }, "from": 1, "name": "Situation & Context", "beatId": "0f2f7aca-1c47-4ec7-954a-cb22576a323b", "matchId": "6f5fb952-0f3c-4526-8864-c8858ca3a74d", "beatType": { "name": "Situation & Context", "slug": "consultants-gambit-situation-context", "status": "active", "canonId": "019dd9b8-05ae-741b-992d-65ee83c639b3", "version": 1, "description": null }, "evidence": "The executive summary and table of contents provide an overview of the situation and context.", "position": 0, "isPrimaryArc": true, "parentBeatType": { "name": "Setup", "slug": "setup", "status": "active", "canonId": "019dd9b8-020e-7505-af9b-d9b9a4679bcc", "version": 1, "description": "Where the deck grounds the reader before doing anything else. Almost every arc opens here." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true }, { "page": 5, "type": "setup", "function": "front_matter", "rawType": "table_of_contents", "block": null, "metadata": { "slideType": "table_of_contents", "slideTypeCanon": { "name": "Table of contents", "slug": "table_of_contents", "status": "active", "canonId": "019de52d-0643-721b-9b85-69676bb85cf8", "version": 1, "description": null }, "function": "front_matter", "functionCanon": { "name": "Front matter", "slug": "front_matter", "status": "active", "canonId": "019de52d-133d-73f0-9e26-201eda96b098", "version": 1, "description": null }, "density": "sparse", "densityScore": 11, "componentCount": 1, "textChars": 283, "nDataPoints": 0, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:12:42.041+00", "seconds": 1.823, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de06f-d9a1-735f-959a-e30273754aed/5", "deck": "/decks/019de06f-d9a1-735f-959a-e30273754aed", "deckAnchor": "/decks/019de06f-d9a1-735f-959a-e30273754aed#slide-5", "deckJson": "/decks/019de06f-d9a1-735f-959a-e30273754aed.json" }, "components": [ { "bbox": { "h": 0.5, "w": 0.8, "x": 0.1, "y": 0.2 }, "kind": "list", "text": "1. Executive Summary 3\n2. Additional Considerations 5\n Selected Illustrative Accretion / Dilution Calculations 6\n Selected Post-Restructured Company Market Observations 10\n Selected Illustrative Precedent \"Going-Dark\" Transaction Observations 13\n3. Appendix 17\n4. Disclaimer 23", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Numbered list", "slug": "numbered", "status": "active", "canonId": "019de52c-fcc0-7718-a284-a4250c805df2", "version": 1, "description": null }, "framework": null }, "subkind": "numbered", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:42.041+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c92c5837-af53-41ad-b461-e9065e523af6", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 6, "type": "setup", "function": "front_matter", "rawType": "table_of_contents", "block": null, "metadata": { "slideType": "table_of_contents", "slideTypeCanon": { "name": "Table of contents", "slug": "table_of_contents", "status": "active", "canonId": "019de52d-0643-721b-9b85-69676bb85cf8", "version": 1, "description": null }, "function": "front_matter", "functionCanon": { "name": "Front matter", "slug": "front_matter", "status": "active", "canonId": "019de52d-133d-73f0-9e26-201eda96b098", "version": 1, "description": null }, "density": "sparse", "densityScore": 11, "componentCount": 1, "textChars": 274, "nDataPoints": 0, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:12:42.065+00", "seconds": 1.795, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de06f-d9a1-735f-959a-e30273754aed/6", "deck": "/decks/019de06f-d9a1-735f-959a-e30273754aed", "deckAnchor": "/decks/019de06f-d9a1-735f-959a-e30273754aed#slide-6", "deckJson": "/decks/019de06f-d9a1-735f-959a-e30273754aed.json" }, "components": [ { "bbox": { "h": 0.5, "w": 0.8, "x": 0.1, "y": 0.2 }, "kind": "list", "text": "1. Executive Summary 3\n2. Additional Considerations 5\nSelected Illustrative Accretion / Dilution Calculations 6\nSelected Post-Restructured Company Market Observations 10\nSelected Illustrative Precedent \"Going-Dark\" Transaction Observations 13\n3. Appendix 17\n4. Disclaimer 23", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Numbered list", "slug": "numbered", "status": "active", "canonId": "019de52c-fcc0-7718-a284-a4250c805df2", "version": 1, "description": null }, "framework": null }, "subkind": "numbered", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:42.065+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "54888433-db54-4153-aed3-6db1916147cd", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 7, "type": "analysis", "title": "Includes detailed footnotes regarding projections, share counts, and cost savings assumptions.", "function": "quantify_impact", "rawType": "financial_analysis", "block": null, "metadata": { "slideType": "financial_analysis", "slideTypeCanon": { "name": "Financial analysis", "slug": "financial_analysis", "status": "active", "canonId": "019de52d-0b45-709c-bfcc-0cf83dd00f13", "version": 1, "description": null }, "function": "quantify_impact", "functionCanon": { "name": "Quantify impact", "slug": "quantify_impact", "status": "active", "canonId": "019de52d-1630-720d-b57d-fa7f76bebd8d", "version": 1, "description": null }, "density": "dense", "densityScore": 69, "componentCount": 7, "textChars": 764, "nDataPoints": 27, "notes": "Includes detailed footnotes regarding projections, share counts, and cost savings assumptions.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:12:43.62+00", "seconds": 3.181, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de06f-d9a1-735f-959a-e30273754aed/7", "deck": "/decks/019de06f-d9a1-735f-959a-e30273754aed", "deckAnchor": "/decks/019de06f-d9a1-735f-959a-e30273754aed#slide-7", "deckJson": "/decks/019de06f-d9a1-735f-959a-e30273754aed.json" }, "components": [ { "bbox": { "h": 0.08, "w": 0.15, "x": 0.82, "y": 0.48 }, "kind": "callout", "text": "Poconos management estimates subject to further refinement", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:43.62+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c570313b-da71-4fd2-8290-0bdb8604d419", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.9, "x": 0.03, "y": 0.82 }, "kind": "disclaimer", "text": "1. Poconos projections per Poconos management. 2. Reflects (i) diluted share count... 3. Reflects Poconos management estimate... 4. Per Poconos management... 5. Excludes non-recurring... 6. Per shareholder roster... 7. Computed as...", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:43.62+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "40d65bb4-1ce0-470e-ab53-edf4627ccb0a", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.9, "x": 0.03, "y": 0.17 }, "kind": "paragraph", "text": "This stems from the recurring nature of the Company's assumed run-rate realized cost savings relative to smaller cost savings in CY 2019E.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:43.62+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "86dcd345-0c4c-4a8c-87c7-091dc2338cc3", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.9, "x": 0.03, "y": 0.12 }, "kind": "paragraph", "text": "The Stock Splits are accretive to Poconos' adjusted EBITDA per share in CY 2020E and CY 2021E following more marginal accretion in CY 2019E.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:43.62+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "da4cd812-6d36-4f81-84e9-e7f3b4a8f791", "parentComponentId": null }, { "bbox": { "h": 0.35, "w": 0.75, "x": 0.03, "y": 0.35 }, "kind": "table", "text": "Financial table showing Status Quo and Pro Forma EBITDA, share counts, and accretion percentages for 2019E, 2020E, and 2021E.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:43.62+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "81d3713e-cbb1-4544-a646-908b609980af", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.5, "x": 0.03, "y": 0.03 }, "kind": "title", "text": "Selected Illustrative Accretion / Dilution Calculations", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:43.62+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "aaf1b56d-ab8c-4fea-b630-445c72974350", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.15, "x": 0.03, "y": 0.06 }, "kind": "title", "text": "Adjusted EBITDA", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Subtitle", "slug": "subtitle", "status": "active", "canonId": "019de52c-fb09-739d-900c-815b0d9ac526", "version": 1, "description": null }, "framework": null }, "subkind": "subtitle", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:43.62+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c1c66dca-df04-4275-be65-2dd524a46611", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [ { "to": 9, "arc": { "name": "The Consultant's Gambit", "slug": "consultants-gambit", "status": "active", "bestFor": "Business cases, project proposals, strategic recommendations", "canonId": "019dd956-5e0a-73c8-b305-81c38c959e9c", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Situation & Context -> Problem & Complication -> Solution & Approach -> Evidence & Proof -> Impact & Next Steps", "description": null, "familyLabel": null }, "from": 7, "name": "Problem & Complication", "beatId": "ee6b3c1d-a085-4ec9-9d71-ba049847dcc5", "matchId": "6f5fb952-0f3c-4526-8864-c8858ca3a74d", "beatType": { "name": "Problem & Complication", "slug": "consultants-gambit-problem-complication", "status": "active", "canonId": "019dd9b8-064a-777f-a374-e9a8c43dedd4", "version": 1, "description": null }, "evidence": "The financial analysis section presents a problem or complication related to the investment opportunity.", "position": 1, "isPrimaryArc": true, "parentBeatType": { "name": "Complication", "slug": "complication", "status": "active", "canonId": "019dd9b8-0275-7709-b2d6-4f77c3fc7579", "version": 1, "description": "The point in the narrative where the audience should feel discomfort. Required for argumentative arcs." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [ { "to": 9, "from": 7, "loop": { "name": "01_logic_chain", "slug": "01-logic-chain", "status": "active", "bestFor": "Skeptical audiences, controversial recommendations, rigorous analysis", "canonId": "019dd956-6638-7457-8650-9b0b42e59fb3", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "Premise 1 (Accepted truth) -> Premise 2 (Observed fact) -> Therefore... (Inevitable conclusion)", "description": "Build an airtight chain of logic where each premise leads inevitably to the conclusion", "familyLabel": null }, "matchId": "a9f6b006-7251-4a68-85e6-d91a2326a404", "evidence": "The financial analysis section presents a clear logical chain of reasoning.", "position": 0, "objective": "To present a logical chain of financial analysis and reasoning", "confidence": 0.6, "extraction": { "at": "2026-07-16 22:08:02.450165+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "locked": true }, { "page": 8, "type": "analysis", "title": "The slide includes a specific callout regarding management estimates and detailed footnotes explaining the calculation methodology.", "function": "quantify_impact", "rawType": "financial_analysis", "block": null, "metadata": { "slideType": "financial_analysis", "slideTypeCanon": { "name": "Financial analysis", "slug": "financial_analysis", "status": "active", "canonId": "019de52d-0b45-709c-bfcc-0cf83dd00f13", "version": 1, "description": null }, "function": "quantify_impact", "functionCanon": { "name": "Quantify impact", "slug": "quantify_impact", "status": "active", "canonId": "019de52d-1630-720d-b57d-fa7f76bebd8d", "version": 1, "description": null }, "density": "dense", "densityScore": 62, "componentCount": 6, "textChars": 791, "nDataPoints": 36, "notes": "The slide includes a specific callout regarding management estimates and detailed footnotes explaining the calculation methodology.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:12:47.948+00", "seconds": 7.493, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de06f-d9a1-735f-959a-e30273754aed/8", "deck": "/decks/019de06f-d9a1-735f-959a-e30273754aed", "deckAnchor": "/decks/019de06f-d9a1-735f-959a-e30273754aed#slide-8", "deckJson": "/decks/019de06f-d9a1-735f-959a-e30273754aed.json" }, "components": [ { "bbox": { "h": 0.07, "w": 0.15, "x": 0.82, "y": 0.48 }, "kind": "callout", "text": "Poconos management estimates subject to further refinement", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:47.948+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "78f50f75-e970-439a-8970-0a10fc35b81d", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.95, "x": 0.03, "y": 0.8 }, "kind": "disclaimer", "text": "Note: Adjusted Free Cash Flow computed as Adjusted EBITDA minus Capital Expenditures for purposes of above illustrative calculations. 1-7: Detailed footnotes regarding share counts, cost savings, and management estimates.", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:47.948+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "49a2352b-ce7a-44f4-8430-8e4777d0e037", "parentComponentId": null }, { "bbox": { "h": 0.08, "w": 0.95, "x": 0.03, "y": 0.13 }, "kind": "list", "text": "The Stock Splits are accretive to Poconos' adjusted free cash flow per share in CY 2019E, CY 2020E and CY 2021E.\nAs accretion / dilution computations are based on a lower base amount versus those delineated on the prior page, observed implied accretion / dilution percentages are greater.", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:47.948+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "379c6dea-3a84-4344-92c4-f683fff69c3c", "parentComponentId": null }, { "bbox": { "h": 0.45, "w": 0.75, "x": 0.03, "y": 0.33 }, "kind": "table", "text": "Financial table showing Adjusted EBITDA, CapEx, Status Quo FCF, Pro Forma FCF, and Implied Accretion/Dilution percentages for 2019E-2021E.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:47.948+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "494745e1-0dba-48d7-9d5d-a1d907a9bb9e", "parentComponentId": null }, { "bbox": { "h": 0.04, "w": 0.75, "x": 0.03, "y": 0.03 }, "kind": "title", "text": "Selected Illustrative Accretion / Dilution Calculations (cont.)", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:47.948+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "e77fb2f0-725a-4f31-ad0b-c0fadbac1967", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.3, "x": 0.03, "y": 0.07 }, "kind": "title", "text": "Adjusted Free Cash Flow", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Subtitle", "slug": "subtitle", "status": "active", "canonId": "019de52c-fb09-739d-900c-815b0d9ac526", "version": 1, "description": null }, "framework": null }, "subkind": "subtitle", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:47.948+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "3235ca8b-05a8-4419-877e-dd40407b750a", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [ { "to": 9, "arc": { "name": "The Consultant's Gambit", "slug": "consultants-gambit", "status": "active", "bestFor": "Business cases, project proposals, strategic recommendations", "canonId": "019dd956-5e0a-73c8-b305-81c38c959e9c", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Situation & Context -> Problem & Complication -> Solution & Approach -> Evidence & Proof -> Impact & Next Steps", "description": null, "familyLabel": null }, "from": 7, "name": "Problem & Complication", "beatId": "ee6b3c1d-a085-4ec9-9d71-ba049847dcc5", "matchId": "6f5fb952-0f3c-4526-8864-c8858ca3a74d", "beatType": { "name": "Problem & Complication", "slug": "consultants-gambit-problem-complication", "status": "active", "canonId": "019dd9b8-064a-777f-a374-e9a8c43dedd4", "version": 1, "description": null }, "evidence": "The financial analysis section presents a problem or complication related to the investment opportunity.", "position": 1, "isPrimaryArc": true, "parentBeatType": { "name": "Complication", "slug": "complication", "status": "active", "canonId": "019dd9b8-0275-7709-b2d6-4f77c3fc7579", "version": 1, "description": "The point in the narrative where the audience should feel discomfort. Required for argumentative arcs." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [ { "to": 9, "from": 7, "loop": { "name": "01_logic_chain", "slug": "01-logic-chain", "status": "active", "bestFor": "Skeptical audiences, controversial recommendations, rigorous analysis", "canonId": "019dd956-6638-7457-8650-9b0b42e59fb3", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "Premise 1 (Accepted truth) -> Premise 2 (Observed fact) -> Therefore... (Inevitable conclusion)", "description": "Build an airtight chain of logic where each premise leads inevitably to the conclusion", "familyLabel": null }, "matchId": "a9f6b006-7251-4a68-85e6-d91a2326a404", "evidence": "The financial analysis section presents a clear logical chain of reasoning.", "position": 0, "objective": "To present a logical chain of financial analysis and reasoning", "confidence": 0.6, "extraction": { "at": "2026-07-16 22:08:02.450165+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "locked": true }, { "page": 9, "type": "analysis", "title": "Includes detailed footnotes explaining the methodology for calculating EPS and accretion/dilution.", "function": "quantify_impact", "rawType": "financial_analysis", "block": null, "metadata": { "slideType": "financial_analysis", "slideTypeCanon": { "name": "Financial analysis", "slug": "financial_analysis", "status": "active", "canonId": "019de52d-0b45-709c-bfcc-0cf83dd00f13", "version": 1, "description": null }, "function": "quantify_impact", "functionCanon": { "name": "Quantify impact", "slug": "quantify_impact", "status": "active", "canonId": "019de52d-1630-720d-b57d-fa7f76bebd8d", "version": 1, "description": null }, "density": "dense", "densityScore": 60, "componentCount": 6, "textChars": 710, "nDataPoints": 36, "notes": "Includes detailed footnotes explaining the methodology for calculating EPS and accretion/dilution.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:12:43.791+00", "seconds": 3.301, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de06f-d9a1-735f-959a-e30273754aed/9", "deck": "/decks/019de06f-d9a1-735f-959a-e30273754aed", "deckAnchor": "/decks/019de06f-d9a1-735f-959a-e30273754aed#slide-9", "deckJson": "/decks/019de06f-d9a1-735f-959a-e30273754aed.json" }, "components": [ { "bbox": { "h": 0.08, "w": 0.15, "x": 0.8, "y": 0.48 }, "kind": "callout", "text": "Poconos management estimates subject to further refinement", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:43.791+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "bfc68a93-9cfc-405a-a613-02c49efc286f", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.9, "x": 0.05, "y": 0.78 }, "kind": "disclaimer", "text": "1. Poconos projections per Poconos management. ... 8. Computed as (i) difference between Pro Forma Earnings / (Loss) per Share and Status Quo Earnings / (Loss) per Share, divided by (ii) Status Quo Earnings / (Loss) per Share. Not meaningful figure in CY 2019E due to negative status quo and pro forma net income.", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:43.791+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "65043137-9803-4465-874e-9ac865df3ff4", "parentComponentId": null }, { "bbox": { "h": 0.08, "w": 0.6, "x": 0.05, "y": 0.15 }, "kind": "list", "text": "Poconos earnings per share is calculated to increase in CY 2020E and CY 2021E.\nImplied accretion / dilution is not meaningful in CY 2019E due to negative forecasted net income.", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:43.791+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "58a63595-6909-4e55-a001-284ff75fb41e", "parentComponentId": null }, { "bbox": { "h": 0.45, "w": 0.7, "x": 0.05, "y": 0.28 }, "kind": "table", "text": "Financial table showing Status Quo and Pro Forma EPS calculations for 2019E-2021E.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:43.791+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "4f103184-74d1-4965-a8e5-e0ec6ae6794c", "parentComponentId": null }, { "bbox": { "h": 0.04, "w": 0.6, "x": 0.05, "y": 0.03 }, "kind": "title", "text": "Selected Illustrative Accretion / Dilution Calculations (cont.)", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:43.791+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "ec19c7df-45eb-4f19-85cb-368cddc8269e", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.2, "x": 0.05, "y": 0.07 }, "kind": "title", "text": "Earnings per Share", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Subtitle", "slug": "subtitle", "status": "active", "canonId": "019de52c-fb09-739d-900c-815b0d9ac526", "version": 1, "description": null }, "framework": null }, "subkind": "subtitle", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:43.791+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "1d41a462-b718-401c-b907-8ceb8b1d2f3d", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "35cf0001-7ea4-4891-9942-3ce779f180bd", "evidence": "Financial table showing Status Quo and Pro Forma EPS calculations for 2019E-2021E.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:26:13.279911+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 9, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [ { "to": 9, "arc": { "name": "The Consultant's Gambit", "slug": "consultants-gambit", "status": "active", "bestFor": "Business cases, project proposals, strategic recommendations", "canonId": "019dd956-5e0a-73c8-b305-81c38c959e9c", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Situation & Context -> Problem & Complication -> Solution & Approach -> Evidence & Proof -> Impact & Next Steps", "description": null, "familyLabel": null }, "from": 7, "name": "Problem & Complication", "beatId": "ee6b3c1d-a085-4ec9-9d71-ba049847dcc5", "matchId": "6f5fb952-0f3c-4526-8864-c8858ca3a74d", "beatType": { "name": "Problem & Complication", "slug": "consultants-gambit-problem-complication", "status": "active", "canonId": "019dd9b8-064a-777f-a374-e9a8c43dedd4", "version": 1, "description": null }, "evidence": "The financial analysis section presents a problem or complication related to the investment opportunity.", "position": 1, "isPrimaryArc": true, "parentBeatType": { "name": "Complication", "slug": "complication", "status": "active", "canonId": "019dd9b8-0275-7709-b2d6-4f77c3fc7579", "version": 1, "description": "The point in the narrative where the audience should feel discomfort. Required for argumentative arcs." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [ { "to": 9, "from": 7, "loop": { "name": "01_logic_chain", "slug": "01-logic-chain", "status": "active", "bestFor": "Skeptical audiences, controversial recommendations, rigorous analysis", "canonId": "019dd956-6638-7457-8650-9b0b42e59fb3", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "Premise 1 (Accepted truth) -> Premise 2 (Observed fact) -> Therefore... (Inevitable conclusion)", "description": "Build an airtight chain of logic where each premise leads inevitably to the conclusion", "familyLabel": null }, "matchId": "a9f6b006-7251-4a68-85e6-d91a2326a404", "evidence": "The financial analysis section presents a clear logical chain of reasoning.", "position": 0, "objective": "To present a logical chain of financial analysis and reasoning", "confidence": 0.6, "extraction": { "at": "2026-07-16 22:08:02.450165+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "locked": true }, { "page": 10, "type": "setup", "function": "front_matter", "rawType": "table_of_contents", "block": null, "metadata": { "slideType": "table_of_contents", "slideTypeCanon": { "name": "Table of contents", "slug": "table_of_contents", "status": "active", "canonId": "019de52d-0643-721b-9b85-69676bb85cf8", "version": 1, "description": null }, "function": "front_matter", "functionCanon": { "name": "Front matter", "slug": "front_matter", "status": "active", "canonId": "019de52d-133d-73f0-9e26-201eda96b098", "version": 1, "description": null }, "density": "sparse", "densityScore": 11, "componentCount": 1, "textChars": 274, "nDataPoints": 0, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:12:42.783+00", "seconds": 2.238, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de06f-d9a1-735f-959a-e30273754aed/10", "deck": "/decks/019de06f-d9a1-735f-959a-e30273754aed", "deckAnchor": "/decks/019de06f-d9a1-735f-959a-e30273754aed#slide-10", "deckJson": "/decks/019de06f-d9a1-735f-959a-e30273754aed.json" }, "components": [ { "bbox": { "h": 0.477, "w": 0.784, "x": 0.108, "y": 0.203 }, "kind": "list", "text": "1. Executive Summary 3\n2. Additional Considerations 5\nSelected Illustrative Accretion / Dilution Calculations 6\nSelected Post-Restructured Company Market Observations 10\nSelected Illustrative Precedent \"Going-Dark\" Transaction Observations 13\n3. Appendix 17\n4. Disclaimer 23", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Numbered list", "slug": "numbered", "status": "active", "canonId": "019de52c-fcc0-7718-a284-a4250c805df2", "version": 1, "description": null }, "framework": null }, "subkind": "numbered", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:42.783+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "5d2bbebc-27fa-4a3a-8b88-7570356f35eb", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "List presentation", "slug": "list-presentation", "status": "active", "bestFor": null, "canonId": "019dd9e1-4ef7-777d-ba68-9074c2b3bcf1", "version": 1, "bodyDocId": null, "description": "Bulleted, numbered, or checklist enumerations.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "ef2149b5-9d78-409d-aff7-73039cbe3748", "evidence": "list/numbered: 1. Executive Summary 3 2. Additional Considerations 5", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.8, "extraction": { "at": "2026-07-16 23:26:13.361931+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 10, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 11, "type": "evidence", "title": "Includes data tables for debt obligations and line charts for indexed share price performance against benchmarks.", "function": "illustrate_case", "rawType": "case_study", "block": null, "metadata": { "slideType": "case_study", "slideTypeCanon": { "name": "Case study", "slug": "case_study", "status": "active", "canonId": "019de52d-0b95-7344-8090-926f3b8e92c8", "version": 1, "description": null }, "function": "illustrate_case", "functionCanon": { "name": "Illustrate case", "slug": "illustrate_case", "status": "active", "canonId": "019de52d-13b4-772c-bb73-1873612a7463", "version": 1, "description": null }, "density": "dense", "densityScore": 55, "componentCount": 7, "textChars": 364, "nDataPoints": 20, "notes": "Includes data tables for debt obligations and line charts for indexed share price performance against benchmarks.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:12:46.674+00", "seconds": 6.112, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de06f-d9a1-735f-959a-e30273754aed/11", "deck": "/decks/019de06f-d9a1-735f-959a-e30273754aed", "deckAnchor": "/decks/019de06f-d9a1-735f-959a-e30273754aed#slide-11", "deckJson": "/decks/019de06f-d9a1-735f-959a-e30273754aed.json" }, "components": [ { "bbox": { "h": 0.35, "w": 0.45, "x": 0.52, "y": 0.55 }, "kind": "chart", "text": "Indexed Share Price Performance Post Re-Listing (Key)", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Line chart", "slug": "line", "status": "active", "canonId": "019de52c-ff62-778f-8f6c-a952ceae8677", "version": 1, "description": null }, "framework": null }, "subkind": "line", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:46.674+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "2c1e81e2-6b19-4597-8406-5d1d41c0a267", "parentComponentId": null }, { "bbox": { "h": 0.35, "w": 0.45, "x": 0.05, "y": 0.55 }, "kind": "chart", "text": "Indexed Share Price Performance Post Re-Listing (C&J)", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Line chart", "slug": "line", "status": "active", "canonId": "019de52c-ff62-778f-8f6c-a952ceae8677", "version": 1, "description": null }, "framework": null }, "subkind": "line", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:46.674+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "3bec6503-87e5-44c9-bc26-9e91495a99bb", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.3, "x": 0.05, "y": 0.96 }, "kind": "source-note", "text": "Sources: Capital IQ as of 8/28/19 and public filings", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:46.674+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "fddd3fab-80c8-4ad6-af44-f4ec5fca7ed2", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.45, "x": 0.05, "y": 0.185 }, "kind": "table", "text": "C&J Energy Services financial data table", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:46.674+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "3948c178-c588-46cf-b8ba-27b2d27a9fd6", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.45, "x": 0.52, "y": 0.185 }, "kind": "table", "text": "Key Energy Services financial data table", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:46.674+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a566c46e-0280-4232-9d5f-1430840fae79", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.03 }, "kind": "title", "text": "Selected Post-Restructured Company Market Observations", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:46.674+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a414e397-dc59-4771-9f7e-a2a6b225a5a3", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.9, "x": 0.05, "y": 0.08 }, "kind": "title", "text": "Selected Oilfield Services Company Performance Post Chapter 11 Emergence", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Subtitle", "slug": "subtitle", "status": "active", "canonId": "019de52c-fb09-739d-900c-815b0d9ac526", "version": 1, "description": null }, "framework": null }, "subkind": "subtitle", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:46.674+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "21ebc274-2c1c-4671-afb6-a78449fd3105", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "1183616c-ebf3-405d-ab44-0311246d0ad0", "evidence": "table/data: C&J Energy Services financial data table", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.8, "extraction": { "at": "2026-07-16 23:26:13.441461+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 11, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [ { "to": 12, "arc": { "name": "The Consultant's Gambit", "slug": "consultants-gambit", "status": "active", "bestFor": "Business cases, project proposals, strategic recommendations", "canonId": "019dd956-5e0a-73c8-b305-81c38c959e9c", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Situation & Context -> Problem & Complication -> Solution & Approach -> Evidence & Proof -> Impact & Next Steps", "description": null, "familyLabel": null }, "from": 11, "name": "Evidence & Proof", "beatId": "d63cb973-0516-4925-97ea-65a17a0a0151", "matchId": "6f5fb952-0f3c-4526-8864-c8858ca3a74d", "beatType": { "name": "Evidence & Proof", "slug": "consultants-gambit-evidence-proof", "status": "active", "canonId": "019dd9b8-07b1-7688-8e1e-7637fec3802a", "version": 1, "description": null }, "evidence": "The case study section provides evidence and proof of the potential investment opportunity.", "position": 2, "isPrimaryArc": true, "parentBeatType": { "name": "Evidence", "slug": "evidence", "status": "active", "canonId": "019dd9b8-03f9-772a-b84a-4f07b415b77a", "version": 1, "description": "A dedicated proof beat exists in only ~4 arcs (Gambit, Sequoia, AIDA, Monroes). Other arcs embed evidence inline within development." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [ { "to": 12, "from": 11, "loop": { "name": "03_aha_moment", "slug": "03-aha-moment", "status": "active", "bestFor": "Data-heavy sections, research findings, analytical arguments", "canonId": "019dd956-66f4-7668-ab25-cec9c996c0bc", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "The Problem/Question -> What the Data Shows -> The Insight", "description": "Establish a tension, present data, then deliver the insight that changes everything", "familyLabel": null }, "matchId": "a1c2eadb-2c87-4e33-9a95-4daa0de26339", "evidence": "The case study section presents a key insight or aha moment related to the investment opportunity.", "position": 1, "objective": "To present a key insight or aha moment", "confidence": 0.6, "extraction": { "at": "2026-07-16 22:08:02.486449+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "locked": true }, { "page": 12, "type": "evidence", "title": "Includes data tables for debt obligations and line charts for indexed share price performance relative to benchmarks.", "function": "illustrate_case", "rawType": "case_study", "block": null, "metadata": { "slideType": "case_study", "slideTypeCanon": { "name": "Case study", "slug": "case_study", "status": "active", "canonId": "019de52d-0b95-7344-8090-926f3b8e92c8", "version": 1, "description": null }, "function": "illustrate_case", "functionCanon": { "name": "Illustrate case", "slug": "illustrate_case", "status": "active", "canonId": "019de52d-13b4-772c-bb73-1873612a7463", "version": 1, "description": null }, "density": "dense", "densityScore": 69, "componentCount": 8, "textChars": 536, "nDataPoints": 20, "notes": "Includes data tables for debt obligations and line charts for indexed share price performance relative to benchmarks.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:12:49.156+00", "seconds": 8.492, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de06f-d9a1-735f-959a-e30273754aed/12", "deck": "/decks/019de06f-d9a1-735f-959a-e30273754aed", "deckAnchor": "/decks/019de06f-d9a1-735f-959a-e30273754aed#slide-12", "deckJson": "/decks/019de06f-d9a1-735f-959a-e30273754aed.json" }, "components": [ { "bbox": { "h": 0.35, "w": 0.45, "x": 0.52, "y": 0.55 }, "kind": "chart", "text": "Indexed Share Price Performance Post Re-Listing (Nuverra)", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Line chart", "slug": "line", "status": "active", "canonId": "019de52c-ff62-778f-8f6c-a952ceae8677", "version": 1, "description": null }, "framework": null }, "subkind": "line", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:49.156+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "1795abfb-b71c-4a59-ba66-cf86b76e3349", "parentComponentId": null }, { "bbox": { "h": 0.35, "w": 0.45, "x": 0.03, "y": 0.55 }, "kind": "chart", "text": "Indexed Share Price Performance Post Re-Listing (Basic)", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Line chart", "slug": "line", "status": "active", "canonId": "019de52c-ff62-778f-8f6c-a952ceae8677", "version": 1, "description": null }, "framework": null }, "subkind": "line", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:49.156+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "f9ce28b0-687e-4c26-9d4c-2c8565adfe75", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.4, "x": 0.03, "y": 0.96 }, "kind": "disclaimer", "text": "Sources: Capital IQ as of 8/28/19 and public filings. CONFIDENTIAL - PRELIMINARY DRAFT - SUBJECT TO FURTHER REVIEW", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:49.156+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "bdb3eecc-85c5-4e72-a83d-753092767db9", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.65, "x": 0.18, "y": 0.91 }, "kind": "legend", "text": "Restructured Company, S&P 500 Index, WTI Spot Price, Oilfield Services Index (OSX)", "attrs": null, "canon": { "kind": { "name": "Legend", "slug": "legend", "status": "active", "canonId": "31361933-3d22-4c70-bbad-0801e9fffc0c", "version": 1, "description": "Color/symbol decoder placed adjacent to a chart or diagram." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:49.156+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "acbb41b2-02ff-493b-9d06-cd882e608bda", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.45, "x": 0.03, "y": 0.18 }, "kind": "table", "text": "Basic Energy Services financial data table", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:49.156+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "13bec868-09ff-4dc2-a838-48bc3779a59b", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.45, "x": 0.52, "y": 0.18 }, "kind": "table", "text": "Nuverra Environmental Solutions financial data table", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:49.156+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "59601849-9608-43f3-b3c9-1d2bb23438b0", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.9, "x": 0.03, "y": 0.02 }, "kind": "title", "text": "Selected Post-Restructured Company Market Observations (cont.)", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:49.156+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b64dd2c1-a885-4df1-93b1-4fdee7244057", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.6, "x": 0.03, "y": 0.07 }, "kind": "title", "text": "Selected Oilfield Services Company Performance Post Chapter 11 Emergence", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Subtitle", "slug": "subtitle", "status": "active", "canonId": "019de52c-fb09-739d-900c-815b0d9ac526", "version": 1, "description": null }, "framework": null }, "subkind": "subtitle", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:49.156+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c84e87eb-da96-411f-b766-c3abab9272ae", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "83cd91b1-8d73-4cf5-9144-30de2d0b09c9", "evidence": "table/data: Nuverra Environmental Solutions financial data table", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.8, "extraction": { "at": "2026-07-16 23:26:13.521817+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 12, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [ { "to": 12, "arc": { "name": "The Consultant's Gambit", "slug": "consultants-gambit", "status": "active", "bestFor": "Business cases, project proposals, strategic recommendations", "canonId": "019dd956-5e0a-73c8-b305-81c38c959e9c", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Situation & Context -> Problem & Complication -> Solution & Approach -> Evidence & Proof -> Impact & Next Steps", "description": null, "familyLabel": null }, "from": 11, "name": "Evidence & Proof", "beatId": "d63cb973-0516-4925-97ea-65a17a0a0151", "matchId": "6f5fb952-0f3c-4526-8864-c8858ca3a74d", "beatType": { "name": "Evidence & Proof", "slug": "consultants-gambit-evidence-proof", "status": "active", "canonId": "019dd9b8-07b1-7688-8e1e-7637fec3802a", "version": 1, "description": null }, "evidence": "The case study section provides evidence and proof of the potential investment opportunity.", "position": 2, "isPrimaryArc": true, "parentBeatType": { "name": "Evidence", "slug": "evidence", "status": "active", "canonId": "019dd9b8-03f9-772a-b84a-4f07b415b77a", "version": 1, "description": "A dedicated proof beat exists in only ~4 arcs (Gambit, Sequoia, AIDA, Monroes). Other arcs embed evidence inline within development." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [ { "to": 12, "from": 11, "loop": { "name": "03_aha_moment", "slug": "03-aha-moment", "status": "active", "bestFor": "Data-heavy sections, research findings, analytical arguments", "canonId": "019dd956-66f4-7668-ab25-cec9c996c0bc", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "The Problem/Question -> What the Data Shows -> The Insight", "description": "Establish a tension, present data, then deliver the insight that changes everything", "familyLabel": null }, "matchId": "a1c2eadb-2c87-4e33-9a95-4daa0de26339", "evidence": "The case study section presents a key insight or aha moment related to the investment opportunity.", "position": 1, "objective": "To present a key insight or aha moment", "confidence": 0.6, "extraction": { "at": "2026-07-16 22:08:02.486449+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "locked": true }, { "page": 13, "type": "setup", "function": "front_matter", "rawType": "table_of_contents", "block": null, "metadata": { "slideType": "table_of_contents", "slideTypeCanon": { "name": "Table of contents", "slug": "table_of_contents", "status": "active", "canonId": "019de52d-0643-721b-9b85-69676bb85cf8", "version": 1, "description": null }, "function": "front_matter", "functionCanon": { "name": "Front matter", "slug": "front_matter", "status": "active", "canonId": "019de52d-133d-73f0-9e26-201eda96b098", "version": 1, "description": null }, "density": "sparse", "densityScore": 11, "componentCount": 1, "textChars": 274, "nDataPoints": 0, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:12:42.915+00", "seconds": 2.201, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de06f-d9a1-735f-959a-e30273754aed/13", "deck": "/decks/019de06f-d9a1-735f-959a-e30273754aed", "deckAnchor": "/decks/019de06f-d9a1-735f-959a-e30273754aed#slide-13", "deckJson": "/decks/019de06f-d9a1-735f-959a-e30273754aed.json" }, "components": [ { "bbox": { "h": 0.65, "w": 0.786, "x": 0.107, "y": 0.165 }, "kind": "list", "text": "1. Executive Summary 3\n2. Additional Considerations 5\nSelected Illustrative Accretion / Dilution Calculations 6\nSelected Post-Restructured Company Market Observations 10\nSelected Illustrative Precedent \"Going-Dark\" Transaction Observations 13\n3. Appendix 17\n4. Disclaimer 23", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Numbered list", "slug": "numbered", "status": "active", "canonId": "019de52c-fcc0-7718-a284-a4250c805df2", "version": 1, "description": null }, "framework": null }, "subkind": "numbered", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:42.915+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "fb66b325-4deb-408c-bddd-c417e745baee", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 14, "type": "analysis", "title": "Includes illustrative calculations and sensitivity analysis table.", "function": "analyze_data", "rawType": "appendix_data", "block": null, "metadata": { "slideType": "appendix_data", "slideTypeCanon": { "name": "Appendix data", "slug": "appendix_data", "status": "active", "canonId": "019de52d-078a-745b-9ee4-c15f2f539acd", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "balanced", "densityScore": 35, "componentCount": 5, "textChars": 277, "nDataPoints": 35, "notes": "Includes illustrative calculations and sensitivity analysis table.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:12:46.145+00", "seconds": 5.034, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de06f-d9a1-735f-959a-e30273754aed/14", "deck": "/decks/019de06f-d9a1-735f-959a-e30273754aed", "deckAnchor": "/decks/019de06f-d9a1-735f-959a-e30273754aed#slide-14", "deckJson": "/decks/019de06f-d9a1-735f-959a-e30273754aed.json" }, "components": [ { "bbox": { "h": 0.1, "w": 0.9, "x": 0.05, "y": 0.88 }, "kind": "disclaimer", "text": "Footnotes 1-5 detailing calculation methodology and data sources.", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:46.145+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "29255241-36d9-497d-bb74-7df4abf8d342", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.85, "x": 0.05, "y": 0.18 }, "kind": "table", "text": "Market-Derived Inputs and Stock Splits Calculations table", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:46.145+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "3ce7e2d4-5449-4843-b54d-a6e6e99ca964", "parentComponentId": null }, { "bbox": { "h": 0.3, "w": 0.7, "x": 0.13, "y": 0.55 }, "kind": "table", "text": "Illustrative % of Shares Outstanding Cashed Out in Stock Splits sensitivity table", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:46.145+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "5dc74a6d-0522-435d-90b1-50ccf03d7e85", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.6, "x": 0.05, "y": 0.02 }, "kind": "title", "text": "Effect of Premium on Continuing Stockholder Value", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:46.145+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c93ebef4-8ff0-4b35-bfa3-2264f2184024", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.3, "x": 0.05, "y": 0.07 }, "kind": "title", "text": "Illustrative Calculations", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Subtitle", "slug": "subtitle", "status": "active", "canonId": "019de52c-fb09-739d-900c-815b0d9ac526", "version": 1, "description": null }, "framework": null }, "subkind": "subtitle", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:46.145+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "d067b85d-83a0-4545-bd63-54e29a284321", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "734d2363-ba71-4ad8-ae02-6983c370a456", "evidence": "table/data: Illustrative % of Shares Outstanding Cashed Out in Stock Splits sensitivity table", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:26:13.60416+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 14, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [ { "to": 20, "arc": { "name": "The Consultant's Gambit", "slug": "consultants-gambit", "status": "active", "bestFor": "Business cases, project proposals, strategic recommendations", "canonId": "019dd956-5e0a-73c8-b305-81c38c959e9c", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Situation & Context -> Problem & Complication -> Solution & Approach -> Evidence & Proof -> Impact & Next Steps", "description": null, "familyLabel": null }, "from": 14, "name": "Impact & Next Steps", "beatId": "6ba495a3-b595-4e81-9c54-b10bb22a34bd", "matchId": "6f5fb952-0f3c-4526-8864-c8858ca3a74d", "beatType": { "name": "Impact & Next Steps", "slug": "consultants-gambit-impact-next-steps", "status": "active", "canonId": "019dd9b8-0849-7728-9ee9-fd1609c4c655", "version": 1, "description": null }, "evidence": "The appendix data section presents additional information and next steps related to the investment opportunity.", "position": 3, "isPrimaryArc": true, "parentBeatType": { "name": "Resolution", "slug": "resolution", "status": "active", "canonId": "019dd9b8-045d-703b-8dd7-e92aba3ba91b", "version": 1, "description": "How the deck ends. Required in 19/20 arcs. The exception (Sparkline) ends with new bliss which is functionally a resolution." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true }, { "page": 15, "type": "setup", "title": "Includes specific benchmarking against 'Poconos' ratios.", "function": "compare_peers", "rawType": "peer_benchmark", "block": null, "metadata": { "slideType": "peer_benchmark", "slideTypeCanon": { "name": "Peer benchmark", "slug": "peer_benchmark", "status": "active", "canonId": "019de52d-08f0-7158-a78d-d7b5331fefaf", "version": 1, "description": null }, "function": "compare_peers", "functionCanon": { "name": "Compare peers", "slug": "compare_peers", "status": "active", "canonId": "019de52d-1453-72ba-a367-9ba3d34c1630", "version": 1, "description": null }, "density": "dense", "densityScore": 66, "componentCount": 7, "textChars": 653, "nDataPoints": 28, "notes": "Includes specific benchmarking against 'Poconos' ratios.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:12:44.153+00", "seconds": 3.025, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de06f-d9a1-735f-959a-e30273754aed/15", "deck": "/decks/019de06f-d9a1-735f-959a-e30273754aed", "deckAnchor": "/decks/019de06f-d9a1-735f-959a-e30273754aed#slide-15", "deckJson": "/decks/019de06f-d9a1-735f-959a-e30273754aed.json" }, "components": [ { "bbox": { "h": 0.35, "w": 0.25, "x": 0.72, "y": 0.13 }, "kind": "callout", "text": "At an illustrative cash-out price of $24 to $30 per share, the implied one-day premium would be -49% to 86%... the resulting effect of the premium on continuing stockholders is also among the lowest.", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:44.153+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "d17b5067-3296-4dc5-850b-117f0d25dbb8", "parentComponentId": null }, { "bbox": { "h": 0.35, "w": 0.65, "x": 0.03, "y": 0.13 }, "kind": "chart", "text": "Implied One-Day Cash-Out Premiums Paid", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Vertical bar chart", "slug": "bar-vertical", "status": "active", "canonId": "019de52c-fe9d-70f2-b3b7-a9ae294f5917", "version": 1, "description": null }, "framework": null }, "subkind": "bar-vertical", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:44.153+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "019d6e62-c6eb-43d0-82f5-a4c94bfef539", "parentComponentId": null }, { "bbox": { "h": 0.35, "w": 0.45, "x": 0.03, "y": 0.52 }, "kind": "chart", "text": "Shares Repurchased as % of Outstanding", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Vertical bar chart", "slug": "bar-vertical", "status": "active", "canonId": "019de52c-fe9d-70f2-b3b7-a9ae294f5917", "version": 1, "description": null }, "framework": null }, "subkind": "bar-vertical", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:44.153+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "181cc1df-10fe-4c1e-a415-8b5aba013c4f", "parentComponentId": null }, { "bbox": { "h": 0.35, "w": 0.45, "x": 0.52, "y": 0.52 }, "kind": "chart", "text": "Implied Effect of Premium", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Vertical bar chart", "slug": "bar-vertical", "status": "active", "canonId": "019de52c-fe9d-70f2-b3b7-a9ae294f5917", "version": 1, "description": null }, "framework": null }, "subkind": "bar-vertical", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:44.153+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "63d709a4-0547-4d2e-894d-57441cc8f901", "parentComponentId": null }, { "bbox": { "h": 0.08, "w": 0.95, "x": 0.03, "y": 0.9 }, "kind": "disclaimer", "text": "1. Reflects Cash-Out Price per Share divided by One-Day Pre-Announcement Share Price. 2. Computed as: ((Cash-Out Price per Share - Current Market Trading Price per Share) * Shares Repurchased) / (Current Market Capitalization - Computed Transaction Value).", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:44.153+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "29d063df-daa2-484b-a842-009bb33b7432", "parentComponentId": null }, { "bbox": { "h": 0.04, "w": 0.5, "x": 0.03, "y": 0.03 }, "kind": "title", "text": "Selected Illustrative \"Going-Dark\" Transactions", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:44.153+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "807a2d49-a18c-48fb-955e-73a7ffe5a20a", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.5, "x": 0.03, "y": 0.07 }, "kind": "title", "text": "Selected Transaction and Benchmarking Observations", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Subtitle", "slug": "subtitle", "status": "active", "canonId": "019de52c-fb09-739d-900c-815b0d9ac526", "version": 1, "description": null }, "framework": null }, "subkind": "subtitle", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:44.153+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "ad4519ad-7016-401e-959d-f32a5a19461d", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "6cb6d6d3-94e6-42b6-a901-1cadec69d938", "evidence": "disclaimer: 1. Reflects Cash-Out Price per Share divided by One-Day Pre-Announcement Share Price.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.8, "extraction": { "at": "2026-07-16 23:26:13.68584+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 15, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [ { "matchId": "a5fda828-a1a1-449e-9af9-6966405b64fd", "evidence": "Comparison of transaction metrics against a set of precedents.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 14:12:44.153+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 15, "frameworkName": "peer_benchmark" } ], "arcBeats": [ { "to": 20, "arc": { "name": "The Consultant's Gambit", "slug": "consultants-gambit", "status": "active", "bestFor": "Business cases, project proposals, strategic recommendations", "canonId": "019dd956-5e0a-73c8-b305-81c38c959e9c", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Situation & Context -> Problem & Complication -> Solution & Approach -> Evidence & Proof -> Impact & Next Steps", "description": null, "familyLabel": null }, "from": 14, "name": "Impact & Next Steps", "beatId": "6ba495a3-b595-4e81-9c54-b10bb22a34bd", "matchId": "6f5fb952-0f3c-4526-8864-c8858ca3a74d", "beatType": { "name": "Impact & Next Steps", "slug": "consultants-gambit-impact-next-steps", "status": "active", "canonId": "019dd9b8-0849-7728-9ee9-fd1609c4c655", "version": 1, "description": null }, "evidence": "The appendix data section presents additional information and next steps related to the investment opportunity.", "position": 3, "isPrimaryArc": true, "parentBeatType": { "name": "Resolution", "slug": "resolution", "status": "active", "canonId": "019dd9b8-045d-703b-8dd7-e92aba3ba91b", "version": 1, "description": "How the deck ends. Required in 19/20 arcs. The exception (Sparkline) ends with new bliss which is functionally a resolution." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true }, { "page": 16, "type": "analysis", "title": "The slide presents two distinct data tables comparing illustrative cash-out prices against market trading price premiums.", "function": "analyze_data", "rawType": "appendix_data", "block": null, "metadata": { "slideType": "appendix_data", "slideTypeCanon": { "name": "Appendix data", "slug": "appendix_data", "status": "active", "canonId": "019de52d-078a-745b-9ee4-c15f2f539acd", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "balanced", "densityScore": 31, "componentCount": 4, "textChars": 319, "nDataPoints": 50, "notes": "The slide presents two distinct data tables comparing illustrative cash-out prices against market trading price premiums.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:12:44.499+00", "seconds": 3.145, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de06f-d9a1-735f-959a-e30273754aed/16", "deck": "/decks/019de06f-d9a1-735f-959a-e30273754aed", "deckAnchor": "/decks/019de06f-d9a1-735f-959a-e30273754aed#slide-16", "deckJson": "/decks/019de06f-d9a1-735f-959a-e30273754aed.json" }, "components": [ { "bbox": { "h": 0.1, "w": 0.9, "x": 0.05, "y": 0.85 }, "kind": "disclaimer", "text": "Effect of Premium on Continuing Stockholders computed as: ((Cash-Out Price per Share - Current Market Trading Price per Share) * Shares Repurchased) / (Current Market Capitalization - Computed Transaction Value)...", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:44.499+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "f6228019-1660-48bd-921f-77f18d44fd1c", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.75, "x": 0.12, "y": 0.2 }, "kind": "table", "text": "1:50 Reverse Stock Split Table", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:44.499+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "1d927b1d-a1c8-490f-9c38-b7a99cccbfd7", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.75, "x": 0.12, "y": 0.5 }, "kind": "table", "text": "1:100 Reverse Stock Split Table", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:44.499+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "7d4ca957-b1e5-4c10-ba93-743448540e6b", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.6, "x": 0.05, "y": 0.05 }, "kind": "title", "text": "Effect of Premium on Continuing Stockholders", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:44.499+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "94461291-ddb9-441c-b576-01d9153093ce", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "8664da82-9c08-4a03-b098-feed2b0f83f2", "evidence": "table/data: 1:100 Reverse Stock Split Table", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:26:13.76678+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 16, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [ { "matchId": "92910502-d6d9-4756-9655-3c63b00c7b3f", "evidence": "The tables show the impact of varying two input variables (Cash-Out Price and Market Trading Price) on a single output metric.", "framework": null, "confidence": 1, "extraction": { "at": "2026-05-02 14:12:44.499+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 16, "frameworkName": "sensitivity_analysis" } ], "arcBeats": [ { "to": 20, "arc": { "name": "The Consultant's Gambit", "slug": "consultants-gambit", "status": "active", "bestFor": "Business cases, project proposals, strategic recommendations", "canonId": "019dd956-5e0a-73c8-b305-81c38c959e9c", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Situation & Context -> Problem & Complication -> Solution & Approach -> Evidence & Proof -> Impact & Next Steps", "description": null, "familyLabel": null }, "from": 14, "name": "Impact & Next Steps", "beatId": "6ba495a3-b595-4e81-9c54-b10bb22a34bd", "matchId": "6f5fb952-0f3c-4526-8864-c8858ca3a74d", "beatType": { "name": "Impact & Next Steps", "slug": "consultants-gambit-impact-next-steps", "status": "active", "canonId": "019dd9b8-0849-7728-9ee9-fd1609c4c655", "version": 1, "description": null }, "evidence": "The appendix data section presents additional information and next steps related to the investment opportunity.", "position": 3, "isPrimaryArc": true, "parentBeatType": { "name": "Resolution", "slug": "resolution", "status": "active", "canonId": "019dd9b8-045d-703b-8dd7-e92aba3ba91b", "version": 1, "description": "How the deck ends. Required in 19/20 arcs. The exception (Sparkline) ends with new bliss which is functionally a resolution." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true }, { "page": 17, "type": "setup", "function": "front_matter", "rawType": "table_of_contents", "block": null, "metadata": { "slideType": "table_of_contents", "slideTypeCanon": { "name": "Table of contents", "slug": "table_of_contents", "status": "active", "canonId": "019de52d-0643-721b-9b85-69676bb85cf8", "version": 1, "description": null }, "function": "front_matter", "functionCanon": { "name": "Front matter", "slug": "front_matter", "status": "active", "canonId": "019de52d-133d-73f0-9e26-201eda96b098", "version": 1, "description": null }, "density": "sparse", "densityScore": 7, "componentCount": 1, "textChars": 191, "nDataPoints": 0, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:12:43.708+00", "seconds": 2.152, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de06f-d9a1-735f-959a-e30273754aed/17", "deck": "/decks/019de06f-d9a1-735f-959a-e30273754aed", "deckAnchor": "/decks/019de06f-d9a1-735f-959a-e30273754aed#slide-17", "deckJson": "/decks/019de06f-d9a1-735f-959a-e30273754aed.json" }, "components": [ { "bbox": { "h": 0.4, "w": 0.8, "x": 0.1, "y": 0.2 }, "kind": "list", "text": "1. Executive Summary 3\n2. Additional Considerations 5\n3. Appendix 17\n Additional Illustrative Precedent \"Going-Dark\" Transactions Detail 18\n Glossary of Selected Terms 21\n4. Disclaimer 23", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Numbered list", "slug": "numbered", "status": "active", "canonId": "019de52c-fcc0-7718-a284-a4250c805df2", "version": 1, "description": null }, "framework": null }, "subkind": "numbered", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:43.708+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "12b14590-25be-4a5f-a500-acd424b4a713", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [ { "to": 20, "arc": { "name": "The Consultant's Gambit", "slug": "consultants-gambit", "status": "active", "bestFor": "Business cases, project proposals, strategic recommendations", "canonId": "019dd956-5e0a-73c8-b305-81c38c959e9c", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Situation & Context -> Problem & Complication -> Solution & Approach -> Evidence & Proof -> Impact & Next Steps", "description": null, "familyLabel": null }, "from": 14, "name": "Impact & Next Steps", "beatId": "6ba495a3-b595-4e81-9c54-b10bb22a34bd", "matchId": "6f5fb952-0f3c-4526-8864-c8858ca3a74d", "beatType": { "name": "Impact & Next Steps", "slug": "consultants-gambit-impact-next-steps", "status": "active", "canonId": "019dd9b8-0849-7728-9ee9-fd1609c4c655", "version": 1, "description": null }, "evidence": "The appendix data section presents additional information and next steps related to the investment opportunity.", "position": 3, "isPrimaryArc": true, "parentBeatType": { "name": "Resolution", "slug": "resolution", "status": "active", "canonId": "019dd9b8-045d-703b-8dd7-e92aba3ba91b", "version": 1, "description": "How the deck ends. Required in 19/20 arcs. The exception (Sparkline) ends with new bliss which is functionally a resolution." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true }, { "page": 18, "type": "setup", "function": "front_matter", "rawType": "table_of_contents", "block": null, "metadata": { "slideType": "table_of_contents", "slideTypeCanon": { "name": "Table of contents", "slug": "table_of_contents", "status": "active", "canonId": "019de52d-0643-721b-9b85-69676bb85cf8", "version": 1, "description": null }, "function": "front_matter", "functionCanon": { "name": "Front matter", "slug": "front_matter", "status": "active", "canonId": "019de52d-133d-73f0-9e26-201eda96b098", "version": 1, "description": null }, "density": "sparse", "densityScore": 7, "componentCount": 1, "textChars": 191, "nDataPoints": 0, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:12:44.085+00", "seconds": 2.276, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de06f-d9a1-735f-959a-e30273754aed/18", "deck": "/decks/019de06f-d9a1-735f-959a-e30273754aed", "deckAnchor": "/decks/019de06f-d9a1-735f-959a-e30273754aed#slide-18", "deckJson": "/decks/019de06f-d9a1-735f-959a-e30273754aed.json" }, "components": [ { "bbox": { "h": 0.435, "w": 0.79, "x": 0.105, "y": 0.201 }, "kind": "list", "text": "1. Executive Summary 3\n2. Additional Considerations 5\n3. Appendix 17\n Additional Illustrative Precedent \"Going-Dark\" Transactions Detail 18\n Glossary of Selected Terms 21\n4. Disclaimer 23", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Numbered list", "slug": "numbered", "status": "active", "canonId": "019de52c-fcc0-7718-a284-a4250c805df2", "version": 1, "description": null }, "framework": null }, "subkind": "numbered", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:44.085+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "86562b23-d028-4331-9c08-c693e32bebc9", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [ { "to": 20, "arc": { "name": "The Consultant's Gambit", "slug": "consultants-gambit", "status": "active", "bestFor": "Business cases, project proposals, strategic recommendations", "canonId": "019dd956-5e0a-73c8-b305-81c38c959e9c", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Situation & Context -> Problem & Complication -> Solution & Approach -> Evidence & Proof -> Impact & Next Steps", "description": null, "familyLabel": null }, "from": 14, "name": "Impact & Next Steps", "beatId": "6ba495a3-b595-4e81-9c54-b10bb22a34bd", "matchId": "6f5fb952-0f3c-4526-8864-c8858ca3a74d", "beatType": { "name": "Impact & Next Steps", "slug": "consultants-gambit-impact-next-steps", "status": "active", "canonId": "019dd9b8-0849-7728-9ee9-fd1609c4c655", "version": 1, "description": null }, "evidence": "The appendix data section presents additional information and next steps related to the investment opportunity.", "position": 3, "isPrimaryArc": true, "parentBeatType": { "name": "Resolution", "slug": "resolution", "status": "active", "canonId": "019dd9b8-045d-703b-8dd7-e92aba3ba91b", "version": 1, "description": "How the deck ends. Required in 19/20 arcs. The exception (Sparkline) ends with new bliss which is functionally a resolution." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true }, { "page": 19, "type": "evidence", "title": "The table provides a comparative analysis of various public companies that have undergone 'going-dark' transactions, detailing valuation and market impact metri", "function": "cite_precedent", "rawType": "appendix_data", "block": null, "metadata": { "slideType": "appendix_data", "slideTypeCanon": { "name": "Appendix data", "slug": "appendix_data", "status": "active", "canonId": "019de52d-078a-745b-9ee4-c15f2f539acd", "version": 1, "description": null }, "function": "cite_precedent", "functionCanon": { "name": "Cite precedent", "slug": "cite_precedent", "status": "active", "canonId": "019de52d-142b-714b-86d4-58aad7b568ec", "version": 1, "description": null }, "density": "balanced", "densityScore": 44, "componentCount": 3, "textChars": 804, "nDataPoints": 300, "notes": "The table provides a comparative analysis of various public companies that have undergone 'going-dark' transactions, detailing valuation and market impact metrics.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:12:45.239+00", "seconds": 3.261, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de06f-d9a1-735f-959a-e30273754aed/19", "deck": "/decks/019de06f-d9a1-735f-959a-e30273754aed", "deckAnchor": "/decks/019de06f-d9a1-735f-959a-e30273754aed#slide-19", "deckJson": "/decks/019de06f-d9a1-735f-959a-e30273754aed.json" }, "components": [ { "bbox": { "h": 0.1, "w": 0.9, "x": 0.05, "y": 0.88 }, "kind": "paragraph", "text": "1. Reflects closing share price one-day prior to transaction announcement, per public filings. 2. Computed as Cash-Out Price per Share, divided by One-Day Pre-Announcement Share Price. 3. Computed as: ((Cash-Out Price per Share - One-Day Pre-Announcement Share Price) * Shares Repurchased) / (Market Capitalization at Announcement - Transaction Value). 4. Over 12 months preceding transaction announcement, per Capital IQ. * Excluded from summary statistics calculations. Sources: Capital IQ, public filings and press releases.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:45.239+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "deafee7c-684a-4ef2-90d3-57aada4d180b", "parentComponentId": null }, { "bbox": { "h": 0.75, "w": 0.9, "x": 0.05, "y": 0.12 }, "kind": "table", "text": "Table containing columns: Announced, Going-Dark Entity, Transaction Value, Shares Outstanding, Estimated Public Float, Shares Repurchased, Market Cap, Cash-Out Price, One-Day Pre-Announcement Price, Implied Premium, etc.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:45.239+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "58b285bf-a746-4819-bd38-e58ba77cb768", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.05 }, "kind": "title", "text": "Selected Illustrative Precedent “Going-Dark” Transactions", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:45.239+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "587655e6-80b7-4f84-bf60-e0672c488c8f", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "b8e9cac2-0f2c-4795-b776-2b580ad1a566", "evidence": "table/data: Table containing columns: Announced, Going-Dark Entity, Transaction Value, Shares Outstanding", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:26:13.847936+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 19, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [ { "to": 20, "arc": { "name": "The Consultant's Gambit", "slug": "consultants-gambit", "status": "active", "bestFor": "Business cases, project proposals, strategic recommendations", "canonId": "019dd956-5e0a-73c8-b305-81c38c959e9c", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Situation & Context -> Problem & Complication -> Solution & Approach -> Evidence & Proof -> Impact & Next Steps", "description": null, "familyLabel": null }, "from": 14, "name": "Impact & Next Steps", "beatId": "6ba495a3-b595-4e81-9c54-b10bb22a34bd", "matchId": "6f5fb952-0f3c-4526-8864-c8858ca3a74d", "beatType": { "name": "Impact & Next Steps", "slug": "consultants-gambit-impact-next-steps", "status": "active", "canonId": "019dd9b8-0849-7728-9ee9-fd1609c4c655", "version": 1, "description": null }, "evidence": "The appendix data section presents additional information and next steps related to the investment opportunity.", "position": 3, "isPrimaryArc": true, "parentBeatType": { "name": "Resolution", "slug": "resolution", "status": "active", "canonId": "019dd9b8-045d-703b-8dd7-e92aba3ba91b", "version": 1, "description": "How the deck ends. Required in 19/20 arcs. The exception (Sparkline) ends with new bliss which is functionally a resolution." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true }, { "page": 20, "type": "evidence", "title": "Includes summary statistics (Low, 25th Percentile, Median, Mean, 75th Percentile, High) at the bottom.", "function": "cite_precedent", "rawType": "appendix_data", "block": null, "metadata": { "slideType": "appendix_data", "slideTypeCanon": { "name": "Appendix data", "slug": "appendix_data", "status": "active", "canonId": "019de52d-078a-745b-9ee4-c15f2f539acd", "version": 1, "description": null }, "function": "cite_precedent", "functionCanon": { "name": "Cite precedent", "slug": "cite_precedent", "status": "active", "canonId": "019de52d-142b-714b-86d4-58aad7b568ec", "version": 1, "description": null }, "density": "balanced", "densityScore": 42, "componentCount": 3, "textChars": 689, "nDataPoints": 250, "notes": "Includes summary statistics (Low, 25th Percentile, Median, Mean, 75th Percentile, High) at the bottom.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:12:44.771+00", "seconds": 2.742, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de06f-d9a1-735f-959a-e30273754aed/20", "deck": "/decks/019de06f-d9a1-735f-959a-e30273754aed", "deckAnchor": "/decks/019de06f-d9a1-735f-959a-e30273754aed#slide-20", "deckJson": "/decks/019de06f-d9a1-735f-959a-e30273754aed.json" }, "components": [ { "bbox": { "h": 0.1, "w": 0.9, "x": 0.05, "y": 0.88 }, "kind": "disclaimer", "text": "1. Reflects closing share price one-day prior to transaction announcement, per public filings. 2. Computed as Cash-Out Price per Share, divided by One-Day Pre-Announcement Share Price. 3. Computed as: ((Cash-Out Price per Share - One-Day Pre-Announcement Share Price) * Shares Repurchased) / (Market Capitalization at Announcement - Transaction Value). 4. Over 12 months preceding transaction announcement, per Capital IQ. * Excluded from summary statistics calculations. Sources: Capital IQ, public filings and press releases.", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:44.771+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "9dd962dc-7699-41fa-93ed-648b212ace0e", "parentComponentId": null }, { "bbox": { "h": 0.75, "w": 0.9, "x": 0.05, "y": 0.12 }, "kind": "table", "text": "Table containing transaction data for 25 entities across 12 columns, plus summary statistics row.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:44.771+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b70b880d-f025-4351-b090-3a3d00cd39c8", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.05 }, "kind": "title", "text": "Selected Illustrative Precedent “Going-Dark” Transactions (cont.)", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:44.771+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a075459e-5d00-49d5-8e38-e661d47b5baa", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "4b70e047-8c79-46aa-9752-8d503500aefe", "evidence": "table/data: Table containing transaction data for 25 entities across 12 columns, plus summary statistics row.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:26:13.929255+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 20, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [ { "to": 20, "arc": { "name": "The Consultant's Gambit", "slug": "consultants-gambit", "status": "active", "bestFor": "Business cases, project proposals, strategic recommendations", "canonId": "019dd956-5e0a-73c8-b305-81c38c959e9c", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Situation & Context -> Problem & Complication -> Solution & Approach -> Evidence & Proof -> Impact & Next Steps", "description": null, "familyLabel": null }, "from": 14, "name": "Impact & Next Steps", "beatId": "6ba495a3-b595-4e81-9c54-b10bb22a34bd", "matchId": "6f5fb952-0f3c-4526-8864-c8858ca3a74d", "beatType": { "name": "Impact & Next Steps", "slug": "consultants-gambit-impact-next-steps", "status": "active", "canonId": "019dd9b8-0849-7728-9ee9-fd1609c4c655", "version": 1, "description": null }, "evidence": "The appendix data section presents additional information and next steps related to the investment opportunity.", "position": 3, "isPrimaryArc": true, "parentBeatType": { "name": "Resolution", "slug": "resolution", "status": "active", "canonId": "019dd9b8-045d-703b-8dd7-e92aba3ba91b", "version": 1, "description": "How the deck ends. Required in 19/20 arcs. The exception (Sparkline) ends with new bliss which is functionally a resolution." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true }, { "page": 21, "type": "setup", "function": "front_matter", "rawType": "table_of_contents", "block": null, "metadata": { "slideType": "table_of_contents", "slideTypeCanon": { "name": "Table of contents", "slug": "table_of_contents", "status": "active", "canonId": "019de52d-0643-721b-9b85-69676bb85cf8", "version": 1, "description": null }, "function": "front_matter", "functionCanon": { "name": "Front matter", "slug": "front_matter", "status": "active", "canonId": "019de52d-133d-73f0-9e26-201eda96b098", "version": 1, "description": null }, "density": "sparse", "densityScore": 7, "componentCount": 1, "textChars": 185, "nDataPoints": 0, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:12:43.772+00", "seconds": 1.679, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de06f-d9a1-735f-959a-e30273754aed/21", "deck": "/decks/019de06f-d9a1-735f-959a-e30273754aed", "deckAnchor": "/decks/019de06f-d9a1-735f-959a-e30273754aed#slide-21", "deckJson": "/decks/019de06f-d9a1-735f-959a-e30273754aed.json" }, "components": [ { "bbox": { "h": 0.236, "w": 0.79, "x": 0.105, "y": 0.202 }, "kind": "list", "text": "1. Executive Summary 3\n2. Additional Considerations 5\n3. Appendix 17\nAdditional Illustrative Precedent \"Going-Dark\" Transactions Detail 18\nGlossary of Selected Terms 21\n4. Disclaimer 23", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Numbered list", "slug": "numbered", "status": "active", "canonId": "019de52c-fcc0-7718-a284-a4250c805df2", "version": 1, "description": null }, "framework": null }, "subkind": "numbered", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:43.772+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "9bd79ead-5824-4386-8e79-99966ac61776", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 22, "type": "appendix", "function": "appendix", "rawType": "appendix", "block": null, "metadata": { "slideType": "appendix", "slideTypeCanon": { "name": "Appendix", "slug": "appendix", "status": "active", "canonId": "019de52d-0762-71f8-b564-89ab863301cc", "version": 1, "description": null }, "function": "appendix", "functionCanon": { "name": "Appendix", "slug": "appendix", "status": "active", "canonId": "019de52d-138d-750b-83c3-49b4bc7a7a38", "version": 1, "description": null }, "density": "sparse", "densityScore": 4, "componentCount": 2, "textChars": 79, "nDataPoints": 0, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:12:44.01+00", "seconds": 1.853, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de06f-d9a1-735f-959a-e30273754aed/22", "deck": "/decks/019de06f-d9a1-735f-959a-e30273754aed", "deckAnchor": "/decks/019de06f-d9a1-735f-959a-e30273754aed#slide-22", "deckJson": "/decks/019de06f-d9a1-735f-959a-e30273754aed.json" }, "components": [ { "bbox": { "h": 0.75, "w": 0.9, "x": 0.05, "y": 0.12 }, "kind": "table", "text": "Glossary table containing terms and their definitions", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:44.01+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "ca97eb94-e71e-4590-b2e1-6a4081e37a0d", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.4, "x": 0.05, "y": 0.05 }, "kind": "title", "text": "Glossary of Selected Terms", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:44.01+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "54eb73cc-8d11-46cf-ad7b-1be021500c3d", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 23, "type": "setup", "function": "front_matter", "rawType": "table_of_contents", "block": null, "metadata": { "slideType": "table_of_contents", "slideTypeCanon": { "name": "Table of contents", "slug": "table_of_contents", "status": "active", "canonId": "019de52d-0643-721b-9b85-69676bb85cf8", "version": 1, "description": null }, "function": "front_matter", "functionCanon": { "name": "Front matter", "slug": "front_matter", "status": "active", "canonId": "019de52d-133d-73f0-9e26-201eda96b098", "version": 1, "description": null }, "density": "sparse", "densityScore": 3, "componentCount": 1, "textChars": 85, "nDataPoints": 0, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:12:43.831+00", "seconds": 1.657, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de06f-d9a1-735f-959a-e30273754aed/23", "deck": "/decks/019de06f-d9a1-735f-959a-e30273754aed", "deckAnchor": "/decks/019de06f-d9a1-735f-959a-e30273754aed#slide-23", "deckJson": "/decks/019de06f-d9a1-735f-959a-e30273754aed.json" }, "components": [ { "bbox": { "h": 0.2, "w": 0.6, "x": 0.1, "y": 0.2 }, "kind": "list", "text": "1. Executive Summary 3\n2. Additional Considerations 5\n3. Appendix 17\n4. Disclaimer 23", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Numbered list", "slug": "numbered", "status": "active", "canonId": "019de52c-fcc0-7718-a284-a4250c805df2", "version": 1, "description": null }, "framework": null }, "subkind": "numbered", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:43.831+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "af5f7a76-2ce3-411b-aeef-a9bd41b8feda", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 24, "type": "setup", "function": "other", "rawType": "disclaimer", "block": null, "metadata": { "slideType": "disclaimer", "slideTypeCanon": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "019de52d-0801-727b-b98a-5ed095aeee78", "version": 1, "description": null }, "function": "other", "functionCanon": { "name": "Other (fallback)", "slug": "other", "status": "active", "canonId": "019de52d-15e1-75bc-99dc-07732380e2ce", "version": 1, "description": null }, "density": "sparse", "densityScore": 18, "componentCount": 4, "textChars": 232, "nDataPoints": 0, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:12:45.212+00", "seconds": 2.979, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de06f-d9a1-735f-959a-e30273754aed/24", "deck": "/decks/019de06f-d9a1-735f-959a-e30273754aed", "deckAnchor": "/decks/019de06f-d9a1-735f-959a-e30273754aed#slide-24", "deckJson": "/decks/019de06f-d9a1-735f-959a-e30273754aed.json" }, "components": [ { "bbox": { "h": 0.8, "w": 0.9, "x": 0.05, "y": 0.12 }, "kind": "disclaimer", "text": "This presentation, and any supplemental information... are provided solely for the information of the Finance and Strategic Planning Committee...", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:45.212+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "22f7af38-f1e1-4f14-9052-08554474fb62", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.3, "x": 0.05, "y": 0.95 }, "kind": "source-note", "text": "CONFIDENTIAL - PRELIMINARY DRAFT - SUBJECT TO FURTHER REVIEW", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:45.212+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "4b72aeff-6524-4713-a487-e9dd91b87822", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.1, "x": 0.85, "y": 0.95 }, "kind": "source-note", "text": "HOULIHAN LOKEY 24", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:45.212+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b00e13af-cfba-40fd-9cd1-dd534e6cf7bb", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.15, "x": 0.05, "y": 0.05 }, "kind": "title", "text": "Disclaimer", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:45.212+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "8899aead-f398-4086-b820-2cca65a43e5e", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 25, "type": "setup", "function": "other", "rawType": "disclaimer", "block": null, "metadata": { "slideType": "disclaimer", "slideTypeCanon": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "019de52d-0801-727b-b98a-5ed095aeee78", "version": 1, "description": null }, "function": "other", "functionCanon": { "name": "Other (fallback)", "slug": "other", "status": "active", "canonId": "019de52d-15e1-75bc-99dc-07732380e2ce", "version": 1, "description": null }, "density": "sparse", "densityScore": 6, "componentCount": 2, "textChars": 126, "nDataPoints": 0, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:12:44.797+00", "seconds": 2.31, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de06f-d9a1-735f-959a-e30273754aed/25", "deck": "/decks/019de06f-d9a1-735f-959a-e30273754aed", "deckAnchor": "/decks/019de06f-d9a1-735f-959a-e30273754aed#slide-25", "deckJson": "/decks/019de06f-d9a1-735f-959a-e30273754aed.json" }, "components": [ { "bbox": { "h": 0.75, "w": 0.9, "x": 0.05, "y": 0.12 }, "kind": "disclaimer", "text": "All budgets, projections, estimates, financial analyses, reports and other information... [legal text block]", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:44.797+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "873df172-6de1-4fbf-a0b5-da351a1972e3", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.25, "x": 0.05, "y": 0.05 }, "kind": "title", "text": "Disclaimer (cont.)", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:44.797+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a37902eb-b137-4a2b-a2d8-7fc31be4568c", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 26, "type": "setup", "function": "front_matter", "rawType": "cover", "block": null, "metadata": { "slideType": "cover", "slideTypeCanon": { "name": "Cover", "slug": "cover", "status": "active", "canonId": "019de52d-05f2-729d-9f93-e0504f0a2410", "version": 1, "description": null }, "function": "front_matter", "functionCanon": { "name": "Front matter", "slug": "front_matter", "status": "active", "canonId": "019de52d-133d-73f0-9e26-201eda96b098", "version": 1, "description": null }, "density": "sparse", "densityScore": 8, "componentCount": 3, "textChars": 89, "nDataPoints": 0, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 14:12:45.045+00", "seconds": 2.28, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de06f-d9a1-735f-959a-e30273754aed/26", "deck": "/decks/019de06f-d9a1-735f-959a-e30273754aed", "deckAnchor": "/decks/019de06f-d9a1-735f-959a-e30273754aed#slide-26", "deckJson": "/decks/019de06f-d9a1-735f-959a-e30273754aed.json" }, "components": [ { "bbox": { "h": 0.03, "w": 0.16, "x": 0.03, "y": 0.07 }, "kind": "image", "text": "Houlihan Lokey", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Logo", "slug": "logo", "status": "active", "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302", "version": 1, "description": null }, "framework": null }, "subkind": "logo", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:45.045+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b2a8338b-7cd7-4cac-83d3-96b705662126", "parentComponentId": null }, { "bbox": { "h": 0.07, "w": 0.15, "x": 0.82, "y": 0.8 }, "kind": "paragraph", "text": "CORPORATE FINANCE\nFINANCIAL ADVISORY SERVICES\nFINANCIAL RESTRUCTURING", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:45.045+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a4e85dad-df04-4c3c-b3a1-6e0d0065980d", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.04, "x": 0.82, "y": 0.94 }, "kind": "paragraph", "text": "HL.com", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 14:12:45.045+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "dac96223-54a7-4eb0-a0a8-c859ba7e15a3", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true } ], "arcBeats": [ { "from": 1, "to": 4, "label": "Situation & Context", "description": "The executive summary and table of contents provide an overview of the situation and context." }, { "from": 7, "to": 9, "label": "Problem & Complication", "description": "The financial analysis section presents a problem or complication related to the investment opportunity." }, { "from": 11, "to": 12, "label": "Evidence & Proof", "description": "The case study section provides evidence and proof of the potential investment opportunity." }, { "from": 14, "to": 20, "label": "Impact & Next Steps", "description": "The appendix data section presents additional information and next steps related to the investment opportunity." } ], "loops": [ { "from": 7, "to": 9, "label": "Logic Chain", "description": "To present a logical chain of financial analysis and reasoning" }, { "from": 11, "to": 12, "label": "Aha Moment", "description": "To present a key insight or aha moment" } ] }