You're the director of new business acquisitions at Pearl's Famous Jam, Inc. and you've received a preliminary 'tickler' from an investment banker regarding a target company represented by the investment banker. It asks whether you're interested and, if so, includes a Non-Disclosure Agreement that you can sign and return. Once received, you'll be given a detailed Confidential Information Memorandum(CIM). The company may be of interest to Pearl's Famous Jam, Inc. because it is a leader in a new, fast growing category in your industry, which otherwise is somewhat mature.

The preliminary document includes the following summary of recent and projected financial performance:

The document also mentions that all manufacturing is conducted at a single facility, which is currently operating at 85% of capacity.

As you review the document and make some preliminary calculations, a number of questions come to mind that you hope are answered to your satisfaction in the CIM, which of course you'll want to see.

What are those questions and what observations or analysis caused them to arise?