Cofounder Rick Schmitt is a principal, executive vice president and chief operating officer, responsible for operations of AccuVal-LiquiTec. A multi-disciplined appraiser, he has more than 30 years of experience appraising businesses, intangible assets, machinery, real estate and inventory across a wide variety of industries, including manufacturing, distribution and service companies.

Mr. Schmitt has managed multi-national evaluations of manufactured and retail inventories, businesses, product lines, trademarks, patents, equipment, machinery and real property. An expert witness, he has extensive litigation support experience testifying before numerous federal bankruptcy courts, civil courts and tax authorities. He has also directed numerous appraisals involving true lease analysis, and valuations of assets at lease inceptions, buyouts and residual valuations.

Mr. Schmitt also advises clients on business and asset sale strategies. He has executed liquidations of businesses, product lines, inventory and assets across a broad range of industries throughout the U.S. and abroad.

Mr. Schmitt cofounded AccuVal-LiquiTec in 1988 and served as executive vice president until the companies were purchased by an international valuation and asset management company in 2000. During his tenure there, he managed the international inventory appraisal practice and guided development of the internal systems and technologies. In 2003, Mr. Schmitt resumed the position of executive vice president and chief operating officer of AccuVal-LiquiTec following the repurchase of the company.

His previous appraisal industry experience includes leadership positions with predecessor firms DoveBid Valuation Services, Inc.; The Gronik Company, Incorporated; and David S. Gronik & Co., Inc. as well as serving as an accountant with Ernst & Young.

Mr. Schmitt holds numerous accreditations, frequently speaks on valuation topics and has published several articles related to the appraisal process. He is recognized as a Certified Valuation Analyst (CVA) in business valuation by the National Association of Certified Valuation Analysts and is an Accredited Senior Appraiser (ASA) with the American Society of Appraisers. Mr. Schmitt has completed the Uniform Standards of Professional Appraisal Practice (USPAP) coursework. Mr. Schmitt was named among the 2000 Notable Men in America and is listed in Who's Who In American Society and Business and Who's Who in the Computer Industry. He graduated from the University of Wisconsin-Milwaukee with a B.B.A. in accounting.