Z-Score Letter.pdf

This is a financial assessment letter from an independent controller regarding Guardian RFID's creditworthiness in relation to an Arizona state and local contract opportunity for an RFID Inmate Tracking and Management System. Dimitry Simelgor of Business Evolution Consulting, who has served as Guardian RFID's independent Controller for five years, was engaged to calculate the company's Z-score as an alternative to full financial disclosure. The letter presents Guardian RFID's Z-scores as of the end of 2022 and year-to-date 2023, providing financial stability documentation for the contract solicitation.

Guardian RFID's Z-score calculations yielded a 2022 score of 6.42 and a 2023 year-to-date score of 6.85, both indicating strong financial health with no bankruptcy risk. The independent controller's professional opinion affirms that Guardian RFID demonstrates improving financial stability, with expectations for further improvement in 2023 due to company growth, anticipated increases in EBIT and sales, and reductions in liabilities. The letter provides contact information for additional detailed explanations of the Z-score calculation methodology if required by the contracting jurisdiction.