Due Diligence Tracker
Full question list: deal/questions ← all 126 questions with status and answers
Original source: QA/JMS_Due_Diligence_Questions_REVIEWED.md
Total questions: 126 (59 Pre-LOI + 67 Post-LOI)
Deal-critical: 7
Summary
|
Pre-LOI |
Post-LOI |
Total |
| ❌ Open |
47 |
57 |
104 |
| ⚠️ Partial |
10 |
6 |
16 |
| ✅ Answered |
1 |
0 |
1 |
| 🔴 Deal-Critical |
4 |
3 |
7 |
Pre-LOI Sections
| Section |
Questions |
Key Topic |
Wiki Page |
| 1A. Revenue & Backlog |
#1-8 |
Revenue sustainability, LANL diversification |
company/customers, financials/revenue |
| 1B. Owner Dependency |
#9-14 |
Transition risk, knowledge transfer |
people/owner-dependency |
| 1C. Key People |
#15-19 |
Employee retention, comp, flight risk |
people/org-chart, people/compensation |
| 1D. Certifications |
#20-25 |
Change-of-control, audit findings |
company/certifications, quality/open-findings |
| 1E. Equipment |
#26-30h |
Machine condition, CapEx, maintenance |
equipment/capex-assessment |
| 1F. Financials |
#31-36d |
Margin, shop rate, repricing, benefits |
financials/summary |
| 1G. Real Estate |
#37-39 |
RE price, mobile home, property taxes |
real-estate/property |
| 1H. Operations Strategy |
#40-43 |
Growth thesis, scaling requirements |
company/overview |
| 1I. Deal-Killers |
#44-47 |
Legal, environmental, safety, biggest risk |
deal/risks |
Post-LOI Sections
| Section |
Questions |
Key Topic |
Wiki Page |
| 2A. Contracts & Legal |
#48-54 |
LANL agreements, assignment clauses |
company/customers |
| 2B. Quality |
#55-62 |
Certs, CAPA, rework rate, calibration |
quality/certifications-detail, quality/inspection-equipment |
| 2C. Employee & Labor |
#63-72 |
Full roster, retention, pipeline |
people/org-chart, people/talent-pipeline |
| 2D. Financial Records |
#73-83 |
Monthly P&L, aging, backlog, K-1s |
financials/summary |
| 2E. Equipment & Ops |
#84-94 |
PM logs, machine hours, software, tooling |
equipment/machine-inventory, equipment/software |
| 2F. Facilities & RE |
#95-100 |
Building condition, electrical, lease terms |
real-estate/infrastructure |
| 2G. Safety & Legal |
#101-105 |
Workers comp, OSHA, liability |
deal/risks |
| 2H. Suppliers |
#106-109 |
Top suppliers, single-source, lead times |
— |
| 2I. Growth & Strategy |
#110-114 |
Other DOE labs, second shift, brand |
company/competitors |
Priority Call Questions (Top 15)
- What drove the 2025 revenue jump, and how much 2026 work is truly under PO?
- Within LANL, is spend diversified across programs or concentrated?
- What approvals or risks exist if ownership changes?
- If you disappeared for 90 days, what breaks?
- Who are the key people I'm really buying — and who might leave?
- What are the open ISO corrective actions, and how's the NQA audit looking?
- Which 3 machines worry you most? (Specifically: compressor, Union B130 control, Haas spindles)
- What work has the best and worst margins? How fast can you reprice?
- What transition support will you personally provide?
- What are the two notes payable on the balance sheet ($42K + $20K)?
- Any lawsuits, environmental issues, or safety problems?
- What's the single biggest risk a buyer is taking here?
- Annual maintenance spend on equipment — ballpark?
- How's the Makino EDM running? Calibration current on FARO/ZEISS?
- What would it take to scale to $5-7M?
Documents Needed
See full document list in QA/JMS_Due_Diligence_Questions_REVIEWED.md (D1-D25).
Referenced by