Human Resources Management

Stephen M. Ambler

**** ******* *****, *** ****** CA 950**-***-*** 2429 (cell) ● abnk5e@r.postjobfree.com

BACKGROUND SUMMARY

Senior financial executive with demonstrated record of achievement in senior financial and

operational management with both public and private companies, high tech and manufacturing.

Has over 10+ years experience as a CFO ● performed an IPO ● strong investor relations skills ●

proven interface with Corporate Boards and Executive Teams ● significant international

experience ● significant fund raising experience within entrepreneurial companies ● experience

in obtaining grants and tax credits ● US GAAP and IFRS experience ● strategic planning skills ●

merger and acquisition proficiency ● proactive on organizational structure and personnel

development ● expert in revenue recognition, (product, software, IP and e-commerce) ● strong

interpersonal and communication skills ● hands-on ● ex big four audit manager.

PROFESSIONAL EXPERIENCE

Immersion Corporation – San Jose, California Feb 2005 – Aug 2009

CFO & VP Finance

Oversaw financial management, developed and implemented business and financial strategies of

this growing $50m revenue and 150 employee Nasdaq listed haptic technology company.

Company operates in two segments – licensed IP and software for mobile communications and

console gaming (30% revenue), and manufactured actuators and manufactured medical

simulators (70% revenue). Ensured proper external reporting under US GAAP (IFRS where

appropriate) and compliance with SEC, Nasdaq regulations and SOX. Managed investor relations,

tax planning and compliance, finance, treasury and currency control, MIS, manufacturing and

quality, insurance and human resources. Key member of M&A team. Worked with the Board and

CEO on strategic planning. Managed 5 direct employees. Company has offices in US, Canada,

and Korea. Company has over 700 patents.

Obtained analyst coverage and banking relationships with 3 investment banks. Performed

extensive investor relations activities. Raised equity and debt financing. Had relationships

with many other investment banks.

Managed commercial banking arrangements, arranging lines of credit and funding as

necessary. Skilled at efficient working capital management.

Introduced quality program.

Introduced SOX program.

Obtained government grants and tax credits for research and development projects.

Managed Government sales contracts (Medical and 3D)

Structured international transfer pricing agreements for tax planning. Managed tax strategies.

Led Oracle upgrade and integration of accounting systems of major business units.

Managed internal (San Jose and Maryland), as well as outsourced offshore (China)

manufacturing groups. Introduced offshore manufacturing in Suzhou, China. Cost

management, and profit assessment.

Worked with both domestic and international sales teams (Asia, Middle East and Europe) to

structure sales contracts, license agreements and further business development with such

companies as Nokia, Samsung, Microsoft, Sony, Medtronic, Volkswagen and LG.

Set up Korean operation from scratch. Responsible for introducing and maintaining internal

controls at that site.

Responsible for acquisition integration for finance, administrative and operations related

activities.

Bam Entertainment – San Jose, California Mar 2001 – Jan 2005

CFO & VP Finance

Financial management, development and implementation of business and financial strategies of a

$60m revenue 120 employee Nasdaq listed console gaming products company. Ensured proper

external reporting under US GAAP and compliance with SEC, and Nasdaq regulations. Managed

investor relations, legal relations, tax planning and compliance, finance, treasury and currency

control, MIS, human resources, and manufacturing. Managed 8 employees worldwide. Company

had offices in US and UK, reporting locally under US GAAP and IFRS respectively.

Took Company public as CFO, raising $46m in IPO in November 2001.

Raised capital and debt instruments prior and post IPO, as well as credit lines with banks.

Managed financial and integration aspects of merge and acquisition activities, including

acquisition of European company reporting under UK GAAP, and IFRS reporting

requirements.

Introduced policies and procedures, financial process and controls, financial management and

reporting processes appropriate for a public company.

Oversaw annual revenue growth from $10m to $50m over 2 years.

Responsible for outsourced manufacturing (manufacturing was domestic US) and inventory

control of video games

Insignia Solutions – Fremont, California Apr 1994 – Feb 2001

CFO, Secretary, SVP Finance (based in California) July 1997 – Feb 2001

Director of European Finance and Admin (based in UK) Apr 1994 – Jun 1997

Oversaw financial management, developed and implemented business and financial strategies of

this packaged and licensed software company. Ensured proper external reporting in both US &

UK (IFRS), compliance with SEC & Nasdaq regulations and GAAP. Managed investor relations,

legal relations, tax planning and compliance, currency control, MIS, human resources, and

manufacturing. Company had annual revenues of $70m and 200 employees. Managed 12

employees worldwide. Company had offices in US, UK, and France.

Raised $28m in various PIPES, and also raised venture equity.

Obtained analyst coverage for Company. Managed investor relations.

Participated in negotiation and sale of significant business units.

Oversaw change in business from packaged product company to OEM licensed software

company. Oversaw e-commerce initiative and introduction.

Introduced policies and procedures and improved financial controls within the Company.

Streamlined financial and administration departments, reducing headcount and costs,

improving efficiency and financial management.

Implemented cash management processes.

Improved tax planning.

Set up outsourced manufacturing in Scotland (packaged software manufacturing), and

outsourced support in Singapore, Scotland and Colorado (24 hr support). Manufacturing

subsequently moved to Asia.

Set up branch in Paris, France to help facilitate international sales in continental Europe.

Participated significantly in IPO process.

Responsible for meeting UK statutory accounting requirements (IFRS), as well as meeting

local taxation regulations (VAT, UK income Taxes, etc)

Bristol Technology – Danbury, Connecticut Jan 1998 – Dec 2000

Independent Board Member

Represented Insignia Solutions on Bristol Technology’s Board. Insignia Solutions owned 30% of

this private company that developed and sold graphical user interface development tools.

Ampex Great Britain – Reading, England Dec 1992 – Mar 1994

Financial Controller and Company Secretary

Financial management of a British subsidiary of a NYSE listed company. Ensured proper external

reporting in both US & UK GAAP (IFRS) etc. Managed legal relations, tax planning and

compliance, currency control, budgeting, MIS, human resources, and manufacturing. Subsidiary

had annual revenue of $40m and 75 employees. Managed 25 employees initially – 8 after

consolidation of operations.

Improved quality of internal reporting, particularly in the area of forecasting.

Controlled cash flows tightly during a period of severe financial pressure.

Provided financial input into commercial negotiations.

Consolidated operations of three subsidiaries into one in an efficient and effective manner.

Obtained considerable international tax planning experience.

Was responsible for all European accounting groups at Ampex – with focus on French,

German, Swiss and Italian branches. Responsible for consolidation accounting of these

operations

Carlton Cabletime – Newbury, England May 1988 – Dec 1992

Finance Director

Development and implementation of business and financial strategies of this start up. Full

financial management of company. Managed legal relations, tax planning and compliance,

budgeting, cost accounting, human resources, and manufacturing. Hands-on role. Managed 4 staff.

Oversaw expansion of business from $5m Revenue to $25m Revenue in 4 years, whilst

maintaining cost controls. As such, Company became profitable.

Implemented an appropriate accounting system to handle this change.

Introduced financial controls, policies and procedures and reporting processes within

Company.

Harris Graphics – Slough, England Jun 1986 – May 1988

Finance Accounting Manager

Full responsibility for financial accounting group, statutory reporting, management reporting,

liaising with auditors and tax advisors, cash and currency management and accounting system

development. Managed 10 staff.

Introduced new payroll system.

Ensured compliance with controls and procedures and timely reporting.

Ensured tight cash management.

Price Waterhouse Sep 1983 – May 1986

Audit Manager

Professional Qualifications: Chartered Accountant (England & Wales)

Education: Diploma in Accounting Studies (With Distinction) – Oxford Polytechnic

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