This chapter presents an alternative to the more traditional restricted stock studies used by the appraisers in the past to determine discounts for illiquidity. The LiquiStat database, created by Pluris Valuation Advisors, LLC takes a new approach to analyzing restricted stock transactions to reflect arm's length transactions on an investor‐to‐investor basis. The LiquiStat database specializes in the analysis of discounts taken when investors not affiliated with the issuing company sell restricted stock in private transactions to other investors. The LiquiStat database also tackles for the first time discounts associated with warrants and convertible securities, along with other illiquid assets. The database includes transactions that have details about the buyer, the seller, and the transaction time frame, all of which can be applied in capturing a discount for illiquidity.