PROFILE
SENIOR FINANCIAL EXECUTIVE with experience in the electronic medical records software, direct to consumer durable medical equipment, energy, major construction and consumer products industries and extensively in growth and dynamic situations. Strengths include problem solving in general, identifying and negotiating strategic alliances and partnerships, maintaining relationships with investment banking and banking communities, design and implementation of reporting systems, operating experience and the leadership of diverse groups to improve performance and teamwork, and all areas of accounting and finance for public and private companies.
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EXPERIENCE
Dr. Notes Inc. 2004
Chief Financial Officer
Electronic Medical Record (EMR) Software
Dramatically improving reporting and information flow at this privately held company that designs, licenses and sells EMR software to medical practices and facilities. Instituted monthly GAAP financial reporting where none previously existed. Continually working with other members of senior management to fine tune sales and marketing effort, reduce costs and streamline operations. Initiated contact with venture capital and investment community to raise capital to enable company to overcome cash flow issues and grow.
National Diabetic Assistance Corp. 2003
Chief Financial Officer
Durable Medical Equipment
Brought in to institute a system of accounting and financial controls, including, monthly reporting, projections of operations based on historical results, proper inventory controls and cutoffs. These systems and controls were necessary to position the company to grow to the next level and possibly go public or be acquired. National Diabetic is a privately held supplier of durable medical equipment to people on Medicare with diabetes or various respiratory problems. I identified the need for larger facilities, located and negotiated the acquisition of a new facility and arranged a very favorable financing including SBA and bank debt. I arranged a new, critically needed, working capital line.
York Research Corporation 1987 - 2002
Executive Vice President / Chief Financial Officer / Corporate Secretary
Independent Power Producer
Responsible for all financial and accounting functions, SEC reporting and compliance, risk management, human resources, cash management, financial controls, banking relationships, MIS, tax and budgeting. York, as owner/operator was involved in the construction and operation of approximately 500 megawatts of greenpower projects, including a project that also generates 10% of the steam requirement of Manhattan.
• Negotiated $500 million partnership with a major West Coast Corporation to build the Company’s first large natural gas power plant that surpassed required emissions standards. As a member of the initial management committee oversaw all aspects of construction, contract
Michael Trachtenberg, CPA
negotiations, and commencement of operations to assure the project was on time and within budget.
• Negotiated $46 million arrangement, in an extremely tough market for a relative newcomer to the energy market, with a foreign institution to finance construction and expansion of a power plant serving middle-income housing and the local utility.
• Negotiated and implemented a $150 million private placement bond offering to finance construction of two new power plants, a wind energy plant in Texas and a simple cycle plant in Trinidad.
• Negotiated a $407 million, partially tax exempt, private placement bond offering to refinance a major power plant. Utilizing the NYC tax-exempt status, allowed the bonds to be sold to a larger number of organizations.
• Stepped in and ran a leaderless eight person engineering department to build the company’s first facility. Organized the department, instituted budgeting and controls and promoted and trained my replacement so I could step aside.
• Brought in as Acting President of a troubled fifteen person Syracuse based electric marketing subsidiary. Discontinued the electric marketing business and transitioned it into a natural gas marketing subsidiary with the help of a $30 million line of credit which I arranged. Built the natural gas business up from zero to $1 billion. Sold natural gas operations to a major competitor and was able to assure that all employees and all fixed asset and office obligations of this subsidiary were transferred to the new owner.
• Designed, implemented and continually improved reporting system and a tight, meaningful cash management system as the Company grew and needs changed.
• Worked closely with CEO as part of senior management team in all areas of strategic planning and future vision of Company. Was instrumental in guiding the company away from a fragmented computer software business and toward its focus on energy.
• Continually monitored all areas of the Company to maximize cash flow and strategically minimize costs. As cash was always tight at this company this was a major focus.
PRIOR
Financial Consultant/Private Practice 1985-1987
Provided comprehensive financial services to companies principally in troubled or
turnaround situations. Identified new sources of debt and equity financing.
Designed and installed improved financial reporting systems and internal control
monitoring systems. Designed systems to improve the monitoring of cash flow.
S&S Corrugated Paper Machinery Co. Inc. 1984-1985
Vice President, Chief Financial Officer
Brought into a privately held $50 million equipment manufacturer principally to reduce costs, improve cash flow and renegotiate domestic and international credit lines.
Carter Day Industries, Inc. 1980–1984
Vice President, Chief Financial Officer
Initially hired at this $130 million agricultural equipment manufacturer to establish an internal audit department at the direction of the Board of Directors. Brought the Company successfully through a Chapter 11 and as a result was promoted to CFO with full responsibility for corporate-wide accounting, financial and treasury functions.
Revlon Inc. 1977–1980
Supervising senior - Internal Audit Staff. Specialized primarily in operational auditing
giving suggestions on improving and tightening manufacturing processes and
helping to identify areas where costs could be reduced.
Ernst & Young LLC (formerly S.D. Leidesdorf & Co.) 1970-1977
Manager - Audit Staff
Education
B.B.A. Bernard M. Baruch College (Beta Alpha Psi – National Accounting Honor Society)
C.P.A. New York State |
