Investors · The Assay™ at the investment decision
The record you underwrite is the record a machine reads at exit.
The diligence question and the exit question are the same question asked years apart. What does a machine say about this company when someone is deciding, and is the reason it gives the company’s own?
A thin record is a thin record whether you are buying the company or buying from it.
A private route, not a published product · The method · The registry
Four moments in a hold
The instrument is bought at a moment, not held on retainer.
Entry
What the machine already says about the asset, before the paper closes. A record that will not carry a reason is a repair cost, and it belongs in the model rather than in the first board deck after close.
First hundred days
The baseline, struck early enough that everything after it can be measured against something. Struck late, it measures the new team’s work rather than what they inherited.
Mid-hold
The same decision space, run again. Standing Wave™ reports whether the record moved, control-adjusted, so the category’s movement is subtracted before the asset’s is claimed.
Pre-exit
What a buyer’s own diligence will find when it asks a machine. The evidence is assembled before the process, not discovered inside it.
A portfolio read
A sponsor’s holdings, measured at a moment in the hold.
The unit
One asset, at one moment in the hold, is one subject. Two decisions about one asset are two subjects.
The shape
Two assets to prove the architecture; the holdings that matter once it has. Whatever proves at one asset becomes the template the fund runs again.
The price
Set by the count of subjects and the cadence, never by hours. The investor rate packet carries the full ladder, and goes out on request to a named principal.
No enterprise tier, no portfolio tier, no bespoke quote. Count the subjects, set the cadence, apply the premium.
Before the LOI
The Field Read is triage, and it is priced to run on a maybe.
$2,500 per subject. A single pass against the open record: no frozen battery, no control set, no second reader. It shows the shape of the problem and not its size, and it is never dressed as a baseline.
It returns one of three findings. None, bounded, or structural. It is credited in full against an Assay signed within ninety days, so triage on an asset you do not buy costs $2,500 and triage on one you do costs nothing.
The limits
What this is not evidence of.
Not revenue causality. The Assay measures representation. Standing Wave™ measures whether that representation moved under the same decision space. Attributing revenue to either requires separate commercial evidence, and we will not supply it.
Not a valuation claim. No score supports a multiple, a mark, or a fairness opinion, and no report will be written to be quoted in one.
Not a rating of the company, its management, or its securities. The subject is one decision, measured on one date, under one method version.
Not a substitute for diligence. It is one instrument inside it, answering one question the others do not ask.
A study can conclude that nothing is wrong.
Why the number holds
The veto
An independent second reader holds a documented veto on publishing any score.
The no-action rate
The share of baselines that conclude no action is published every year.
The mix
The share of revenue that is measurement, against the share that is editorial, is published every year.
The invoice
Measurement and authorship are invoiced separately, always.
A client can buy the Baseline and the Standing Wave™ indefinitely without commissioning a word of editorial. The referee is never for sale. The advocate is.
The investor line
Bring the decision.
Name the asset and the moment in the hold. We will tell you whether the instrument fits, and if it does not, we will say so.