·         Mergers and acquisitions                                              ·        Private company debt and equity offerings

·         Public company financing and reporting                    ·        Strategic planning and budgeting

·         Software, product & service revenue recognition     ·        Cost control & restructuring

PROFESSIONAL EXPERIENCE    

Hayes Financial Group, LLC                                                               February 2004 – Present

Southborough, MA

Performing temporary or permanent part-time financial, operational and management consulting services at the CFO and/or Corporate Controller level for growing companies in the high- technology industry (telecommunications, security, storage and software sectors), service industry (defense subcontracting, construction, investment management & medical sectors), and retail industry (consumer products).  Assignments ranged in duration from two months to more than three years.

President

• Completed stock acquisition of privately-held company in the defense subcontracting industry
•  Performed five-month full-time assignment to integrate defense industry client post acquisition
• Renegotiated vendor & lease agreements for venture-backed equipment vendor (benefit of $500,000)
• Subject matter expert in revenue recognition for public company (SOP 97-2, SAB 104 and SOP 81-1)
• Completed SEC filings (10-K, 10-Q, 8-K and S-4) for company offering security solutions and services
• Performed independent study of financial & operational procedures for venture-backed storage vendor
• Presented recommendations to Board of Directors for financial and operational improvements
• Completed major reorganizations for two telecommunications clients
• Negotiated bridge financing and debt restructuring at telecommunications client
• Participated in the negotiations of telecommunications and software distribution agreements
• Reviewed software licensing & OEM arrangements for SOP 97-2 accounting for venture-backed clients
• Wound down financial / legal affairs for investors & creditors of defunct telecommunications company
• Consulted in acquisition discussions with several targeted companies
• Completed asset acquisition of venture-backed telecommunications company
• SOP 97-2 subject matter expert for public telecommunications company after 10-K restatement
• Rewrote revenue recognition policies at numerous public and private clients
• Set up and designed financial and operational procedures for new defense subcontracting operation
• Negotiated bank debt financing arrangements for several clients
• Performed tax compliance for several clients, including C-corporation, LLC, and investment trust
• Negotiated lease space and tenant improvements for several clients
• Set up the financial and administrative systems and procedures for a medical practitioner’s office
• Consulted with the development of a retail business plan, including pro forma financial projections
• Board member for companies in the construction, service and retail industries

Terapulse, Inc.                                                                               March 2003 - February 2004

Acton, MA

A leading venture-backed startup which developed of the world’s first broadband polarization mode dispersion (PMD) compensator for high speed (10Gbps and 40Gbps) optical transport networks. 

Chief Financial Officer

·         First and sole financial individual for a 30-person telecommunications startup

·         Responsible for all finance, legal, human resources, MIS, operations, and manufacturing functions

• Decreased average monthly burn rate by 14% (~$100,000) without headcount reductions
• Negotiated capital lease line with venture leasing firm
• Achieved an average reduction in outside legal expenses by over $10,000 per month
• Negotiated lease for expansion space and oversaw development of lab and manufacturing facility
• Designed early customer appreciation program (ECAP) for product launch

Alcatel (formerly Astral Point Communications, Inc.)             October 1999 – December 2002

Chelmsford, MA

A $20B, NYSE-listed company providing advanced telecommunications, Internet, networking and optics products and services. Following the April 2002 acquisition of Astral Point Communications, a leading venture-backed startup developing next generation multi-service optical networking equipment.

Vice President of Finance (Alcatel)

·         Completed eight-month transition assignment following acquisition yielding investors up to 400%

·         Successfully integrated finance, human resource and legal functions with US headquarters in Texas

·         Transitioned all Astral Point stock records and investor relations duties to Alcatel transfer agent

·         Acted as liaison between Astral Point investors and Alcatel representatives during transition

·         Accounted for transaction under both French pooling and US purchase accounting

·         Negotiated severance packages for former staff being transitioned out of combined entity

·         Managed staff reductions and transition of work at various phases to Alcatel personnel

Chief Financial Officer (Astral Point Communications, Inc.)

·         Completed $170M stock acquisition by Alcatel, including renegotiation of liquidation preferences

·         Completed $83M 3^rd round venture financing

·         Negotiated $14M bank debt, equipment lease, and bridge financings

·         Managed finance, legal, investor relations, human resources, and corporate recruiting functions

·         Presented at several investment banking conferences

·         Negotiated OEM agreement with large equipment vendor

·         Initiated the company’s budgeting and forecasting process

·         Selected and managed implementation of corporate ERP system

·         Negotiated 63,000 sq. ft. facility lease and coordinated move to accommodate 6x headcount growth

·         Negotiated multiple contract manufacturing agreements, including settlement negotiations

Integrated Computing Engines, Inc., Waltham, MA                           June 1997 – October 1999

A leading vendor of high-performance multiprocessing software and hardware desktop solutions for the video and film industry, providing special effects applications and video streaming. 

Chief Financial Officer, Vice President of Finance & Administration and Treasurer

·         Successfully completed $16 million of venture capital and bank debt funding

·         Completed a $1.2 million intellectual property rights and product line acquisition

·         Negotiated an investment in a private software company to secure product distribution rights

·         Selected and coordinated implementation of corporate ERP system and e-commerce system

·         Negotiated OEM contract which led to the ultimate sale of the company (asset sale)

·         Set-up European operations based in the U.K.

·         Negotiated lease for replacement office space achieving a 30% reduction in rent costs

 Open Market, Inc., Cambridge, MA                                                  November 1995- June 1997

A NASDAQ-listed e-commerce software and services pioneer. Reporting to the CFO, and hired to spearhead the IPO process and software revenue recognition controls.

Manager of Financial Reporting

·         Successfully completed the initial public offering, including:

à         Drafting the Form S-1, including amendments and SEC responses

à         Manage investment bankers, lawyers and accountants

à         Developing the financial road show presentation

·         Performed financial due diligence for the successful acquisitions of two software companies

·         Developed and managed the software revenue accounting process and controls under SOP 97-2

·         Managed revenue growth from $2 million to $62 million (fastest growing software company in 1996)

·         Managed all external financial reporting, including Form 10-K, 10-Q, 8-K and all other SEC filings

·         Reviewed and guided financial expectations of research analysts

·         Managed the company’s stock incentive plans and stockholder records

·         Controlled the setup of foreign operations in Europe, Australia and Canada

Arthur Andersen LLP, Boston, MA                                        September 1989 – November 1995

A “Big Five” public accounting firm.  Member of the Boston High Technology Practice, eighty professionals dedicated to small to mid-sized technology-based companies. Promoted to manager in less than four years.

Experienced Audit Manager

·         Engaged in four initial public offerings and six secondary public offerings

·         Assisted clients with more than twenty mergers and acquisitions and related SEC filings

·         Maintained client base of high technology, biotech, manufacturing, services, and venture capitalists

·         Managed the audit, financial reporting and tax preparation processes

·         Formulated operational and financial recommendation letters to management

·         Managed a client load of more than thirty clients, including nine public entities

Engineering Planning & Management, Inc., Framingham, MA                                 1983 – 1988

Internal auditor and staff accountant for engineering consulting and software company.                                                                                                                                                                                

EDUCATION & AFFILIATIONS                                             

 BS, Business Administration, Major of Accounting, Northeastern University, Boston, MA                            1989

·         Graduated summa cum laude and first in my class with a GPA of 3.99 (2,296 graduates)

Licensed Massachusetts CPA.  Passed CPA exam in first attempt

Member of the AICPA       

COMPUTER SOFTWARE         

Financial Software:              QuickBooks, Oracle, Syteline, Great Plains, Lawson, Platinum, MAS90

Other Software:                    Complete MS Office Suite, MS Outlook, Trancentive, Equity Edge

References furnished upon request