| RECENT CASES Film (Documentary & Narrative) Production start-up Client is a successful producer of documentary films which have shown at major film festivals worldwide (Sundance, Toronto, Berlin, Tribeca among others) that desired to move into narrative filmmaking. We reorganized the corporate structure, formed new limited liability companies for each new film project, wrote new strategic business plan, authored a private placement memorandum to seek slate investors, brought in new accounting firm and bookkeeper to organize financial record-keeping, assisting with fund-raising and investor presentations. Fine Jewelry Wholesaler with $40 million annual sales Client experienced difficulty meeting payroll following a major relocation and reorganization of the business to a sales & marketing structure from a manufacturing and distributing structure. Our role was to assess the Accounting Department and determine ways to improve its effectiveness. We conducted in-depth reviews or all department personnel, including their actual job functions, workflow, interface with internal and external constituents, required functions and roles and staff performance. We reorganized the department by changing staff functions, adding appropriate staff, using outside temporaries for critical tasks and streamlining department functions and roles. Retail Petroleum Industry Services firm with $100 million annual sales Client was bleeding cash and relationship with bank was in ruins. Our role was to provide all financial analysis and analytical support for the turnaround, including, but not limited to: initial assessment of business model; development of new business model; liquidation analysis; collateral valuation analysis; cash management systems analysis; cash flow forecasts; borrowing base restatements; financial projections; debt restructuring models; disclosure statement drafting; discounted cash flow and valuation models to assist new debt/equity investor; preparation of offering memoranda; and scenario. General Contractor and Construction Management firm with $200 million annual sales Client was experiencing severe cash shortage when we were referred in by another consultant. Our role was to assess the reasons for the cash shortage and restate the client’s financials to show why and where the cash was being lost. Performed all the financial analysis and analytical support for the restructure of the client’s operations, including a significant downsizing of staff and consolidation of offices. Advised on a new business model and provided analytical support for its adoption and implementation. Analyzed trust fund violations; performed liquidation analysis; cash collateral valuation; prebankruptcy planning; creditor negotiation to restructure debts; drafted Disclosure Statement for creditor negotiations, including all supporting exhibits and projections; drafted Offering Memoranda for raising new equity capital and sale of certain business operations; managed the due diligence process for/by prospective purchasers of the client’s assets; among other tasks. Commercial Lithographic firm with $35 million annual sales The client’s lender was concerned about falsification of the borrowing base and was prepared to pull the lines of credit. Client hired us to perform an exhaustive audit of the accounts receivable and inventory. Our role was to audit the billings records; perform valuations on the cash collateral; review and assess the quality of financial systems and controls; assess management’s veracity (uncovering significant fraud by management and negotiating a forbearance and restitution agreement with the lender); prepared cash forecasts and financial projections in support of the restitution agreement. Direct Mail Service “roll-up” with $300 million annual sales Client was the product of a series of acquisitions by an investment group and was having cash flow difficulties. A turnaround firm was working on restructuring operations. We were contracted to assist the restructuring effort. Our role was to perform profitability analysis by line of business and by customer; develop a unit costing system; and build a contribution forecasting model to assist in bidding new jobs and improving profits per job. INDUSTRY EXPERIENCE Some of the areas we have been engaged in include: Entertainment Textiles & Garment Aerospace Metals Handling Food & Beverage Hospitality Restaurant Business Services Retail Software Development Manufacturing Trucking & Transportation |
