Chief Financial Officer
A subsidiary of Pharos Capital Group, LLC - a $1B private equity firm
As CFO of this start up, overall responsibilities for finance, business strategy development, supply chain
optimization, information technology and business administration. Was selected to turnaround a distressed
company’s financial performance, strengthen governance, and achieve audit readiness and reliable reporting
and forecasting. Strong member of sales strategy utilized to advance strategic partner capture and go
to market strategy. Be active member of executive team focused on debt restructure and non dilutive
fundraising. Point of liaison and strong Board of Directors relationships as Acting Secretary of the Board.
Orchestrated a timely exit for optimum return for shareholders and creditors. Overall responsibility of 92
- Profitability – Achieved 50% reduction year over year in losses and tracking to cash flow positive within the business model.
- Identified need for an existing transformation from a “Government Services” business model to a “Product company” structure which provided a 31% reduction in operating expenses.
- Established a cash management strategy and treasury function that resulting in a reduction of Days Sales Outstanding from 104 days to 29 days.
- Identified key strategic partners and presented to the venture capitalists (V.C.) and private equity market as well as to large enterprises identified as strategic fit.
- Secured $16M of investment, of which $8M was non dilutive.
- Responsible for reviewing all government contracts for FAR compliance, A133 and Incurred Cost reporting back to the DCAA
- Developed the IT strategic roadmap underpinning the product lines of the company
- Successfully audited and reviewed current Government Services ERP system (Deltek) for completeness and accuracy. Subsequently, added functionality to Deltek system to allow for full utilization including Commercial Enterprise (non-government accounting) capabilities
- Company is now “audit ready” for an exit strategy – completed tax returns from Year 2000, audited statements through 2009, physical inventory count is now current, individual departmental budgets prepared and monthly and quarterly management reporting is in place