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Resume:
Leadership Experience Continued Page *
Stephen L. Russo }
Combining world class leadership with
strategic focus.
Introduction
Strategically oriented CFO with unmatched success, leading and strengthening the corporate finance function for
public and private entities. Exceeded expectations of owners and shareholders as a c level executive in various
start up, turnaround, stable and high growth situations. Consistently demonstrated the ability to make immediate
improvements in cash flow, profits, strategic planning, internal and external reporting and controls. In depth
experience across all corporate finance, accounting and MIS functions. Impressive M&A and capital raising track
record. Possess a reputation of unwavering accuracy, credibility and integrity in financial reporting.
Chief Financial Officer and VP Operations for two recipients of the Ernst & Young Entrepreneurial Award –
Vinca Corporation 1999 and Arkona Inc. 2004. Arkona Inc was also the recipient of one of the top 50 public
companies in 2004.
Expertise
Staff management and leadership Sound SEC reporting
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Strategic planning Mergers and acquisitions
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Cost & financial systems development and Corporate finance & accounting
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management Corporate leadership
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Internal controls, SOX 404 Investor relations
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Financial statement analysis Contract negotiations
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Leadership Experience
2009 Present
Chief Executive Officer
530 South 330 West Orem Utah 840**-***-*** 509*-***-*** 3027 *****.*****@*********.***
Leadership Experience Continued Page 2
Velowave Corporation
Velowave Corporation is a new wireless provider of
Broadband Internet, voice and mobile broadband
services. The Company began by providing services
using WiMAX architecture with the road map of moving
to deploying its services over 3G/4G and LTE
technologies. We have just entered into discussions with
a larger ISP that is interested in acquiring Velowave.
Negotiated strategic partnership
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agreements with WiMAX providers in Florida,
Texas and California covering over 13,000,000
subscribers.
Negotiated 3G/4G transport agreements
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with AT&T, Sprint, Verizon and T mobile.
Co developed 3G/4G/LTE routers with
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one of the largest Chinese electronics
manufacturers in the world.
Managed the subscriber acquisition in
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Florida to a rate of over 100 new subscribers and
150 new products per week.
Raised a $5,000,000 commitment to fund
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the company.
Chief Executive Officer and Chief Financial 2007 2009
Officer
MSTAR Corporation
MSTAR was the largest fiber to the premise (FTTP)
service provider on the UTOPIA and iProvo fiber
networks. MSTAR provided broadband Internet, voice
and IPTV services to its subscribers. In February of
2007 I was hired as the CFO and tasked to decrease
costs. In short, I was tasked to stop the bleeding. When
I was hired the company was burning over $250,000 per
530 South 330 West Orem Utah 840**-***-*** 509*-***-*** 3027 *****.*****@*********.***
Leadership Experience Continued Page 3
month in cash. In less than 18 months I was able to get
the company to a positive cash flow position. At that
time the shareholders removed the then current CEO and
ask me to take over as the company’s chief executive. I
was then tasked to position the company for sale and
find a buyer. The acquisition of MSTAR closed in July
of 2009.
Renegotiated several legacy contracts
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decreasing cost of goods by 35%.
Decreased days in receivables from over
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75 days to 32.
Developed and implemented new
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installation processes and training decreasing
installation expenses by 51%.
Developed strategic relationships with
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outsource partners that decreased overhead
expenses by 38%.
2005 2007
Chief Financial Officer and VP of Operations
SweetLiving, LLC
SweetLiving manufactured, through contract
manufacturers, and sold 21 health products based on the
benefits of Xylitol. The company’s products focused on
oral health, general health and weight loss. As the CFO/
VP of Operations of a start up I was tasked with setting
up the operational and financial systems of the company.
After launching the company we sold the company’s
intellectual property (formulas and service marks) to
Natures Sunshine and the rest of the company to an
Arizona company.
530 South 330 West Orem Utah 840**-***-*** 509*-***-*** 3027 *****.*****@*********.***
Leadership Experience Continued Page 4
Negotiated agreements with contract
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manufacturers keeping cost of goods below 13%.
Raised $2,000,000 in capital to launch the
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company.
Developed pricing strategies to insure
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proper margins.
Set up warehouse & fulfillment
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operations.
Developed financial systems and internal
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control systems.
2000 2005
Chief Financial Officer, VP of Operations and
Corporate Secretary
Arkona Inc.
Arkona Inc. developed Dealer Management Systems
(DMS) for automobile, boat, RV and machinery
dealerships. DMS systems contain software that handles
all the system needs of a dealership such as finance,
sales, parts, inventory and administration. In the
beginning the company was called Sundog Technologies
and had developed a technology that allowed desperate
data bases to easily communicate with each other.
Within 6 months we discovered that the technology was
worthless. Sundog was a publically traded company and
rather than leave the shareholders with nothing we as a
management team decided to see if we couldn’t make the
company work in some way. We sold off some
technology with a business unit and acquired a small
company with great DMS technology.
Grew revenue from $360,000 to over
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$10,000,000 per year.
Recipient of the Ernst & Young
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Entrepreneur of the year award for technology
companies in 2004.
530 South 330 West Orem Utah 840**-***-*** 509*-***-*** 3027 *****.*****@*********.***
Leadership Experience Continued Page 5
Prepared and filed all SEC filings.
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Raised $3,000,000 in capital for the
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company
Managed investor relations.
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Negotiated the sale of a business unit for
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$9,000,000.
Prepared all Board documents,
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maintained all corporate records, took and kept
minutes of Board and shareholder meetings.
Negotiated and managed the due
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diligence to acquire Ensign Information Systems.
Positioned and negotiated the sale of the
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Company for $75,000,000.
Chief Financial Officer, VP of Operations and 1992 – 2000
Corporate Secretary
Vinca Corporation
Vinca Corporation was a market leader in server and
storage failover in a two server environment as well as in
a multi server environment or cluster of servers. When I
started with the Company I was the 5th employee.
Vinca’s products were developed on several operating
systems and were sold throughout the world. When the
company was acquired there were sales offices in
England, Brazil, Dubai, Malaysia and several offices in
the US and Canada.
Raised and managed over $10,000,000 in
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capital investment.
Grew the company from five employees
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to over 200.
Grew sales of the company from $0 to
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over $20,000,000 per year.
Negotiated strategic alliances with major
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corporations like Dell, IBM and Microsoft.
Recipient of the Ernst & Young
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530 South 330 West Orem Utah 840**-***-*** 509*-***-*** 3027 *****.*****@*********.***
Leadership Experience Continued Page 6
Entrepreneur of the Year award for technology
companies in 1999.
Managed due diligence process and the
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acquisition of two small technologies companies.
Negotiated and managed the acquisition
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of the company to Legato Systems in July of
1999 for $110,000,000.
1987 1992
Controller
Sage Analytics Inc.
Sage Analytics Inc was a consulting firm which used
it proprietary technology called failure avoidance
technology. Sage would take information acquired
from client employees and analyze the data using its
software and implement the recommendations after
analysis. The results were astonishing and while
there we worked with large corporations like
American Airlines, IBM and the Department of
Defense. Just after starting with Sage the company
completed an initial public offering.
Coordinated the company’s initial public
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offering.
Grew the company from one office to three
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with one in Canada and one in Holland.
Grew revenue from $1,500,000 to over
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10,000,000 in four years.
Managed all financial and operational
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function of the company.
Prepared and filed all SEC reports and
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filings.
530 South 330 West Orem Utah 840**-***-*** 509*-***-*** 3027 *****.*****@*********.***
Leadership Experience Continued Page 7
Education & Affiliations
B.S. Accounting, Brigham Young University
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Certified Public Accountant 1990
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Member American Institute of Certified Public Accountants 1990
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Member Utah Association of Certified Public Accountants 1990
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530 South 330 West Orem Utah 840**-***-*** 509*-***-*** 3027 *****.*****@*********.***
530 South 330 West Orem Utah 840**-***-*** 509*-***-*** 3027 *****.*****@*********.***
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