Accounting Financial

David A. Robinson

Senior Financial Executive

Industrial Experience

Astute Consultant and Senior Executive providing 39 years of in-depth accounting and leadership knowledge seeking opportunities where I can continue to provide my proven successful leadership traits.

Hands-on learning experiences have deepened my ability to increase production reliability while avoiding preventable expenditures, and thus increasing profitability.

Financial Acumen

Executive leader of strategic and financial initiatives of multiple business venues. Financial liaison between business owners, investors, and banks. Works closely with all constituents to achieve profitable goals.

Merges operational knowledge with financial knowledge to present viable intel to stakeholders involving accounting, due diligence, mineral lease audits, and best business management.

Accounting

Broad experience base in production/manufacturing, construction and retail accounting with expert background in designing, implementing and controlling entire accounting systems.

Skilled in revamping/building user friendly, accurate, and timely accounting systems. Implements and controls systems for strong internal controls authenticating the accuracy of all financial data while providing safe-keeping of the company’s assets and supporting top tier confidentiality. Strong accounting background, coupled with knowledge of production and marketing needs. Expert user of Excel, Word, QuickBooks, Oracle, J. D. Edwards, MIMS, Sage MAS90 and multiple other accounting programs/software packages.

Develops skills of accounting team and instills confidence needed to professionally present findings/recommendations to any level of management or ownership.

Regularly travels to operational sites for first-hand view of challenges, and to develop an economically feasible operating plan in improving profitability of operation. Quickly gains respect via communicating in same language of engineers, operations management, hourly workers, and all levels up through CEO, lenders and outside investors.

KEY STRENGTHS

Due Diligence

Joint Ventures

Banking Relationships

Investor Presentations

True In-Depth Operating Lease Audit

Financing-Start-Ups & Capital Expense

Preparing Realistic Pro-Forma Models

Cost Tracking & Maximizing Profitability

Hands-On Operational Knowledge

MOST IMPRESSIVE ACHIEVEMENTS

Performed operating lease audit on jointly owned property and uncovered ~$5M of additional mineral royalty payments due to miscalculations of lessee and overlooked by previous accounting firm audits. Most recent mineral royalty audit uncovered payment errors that have existed for at least 35 years and had been overlooked by multiple audits performed by CPA firms for over 3 decades. This case is currently still in process but the anticipated lost revenue claim could reach into the millions of dollars.

Modernized accounting department via multi-programs. Developed education reimbursement program to substantially advance employees’ accounting knowledge. Traded expertise with software company to provide large cost reduction in accounting module. Within 3 years financial statements were reviewed by external CPA firm and given glowing reviews for accuracy and professional presentation.

Guided bankrupt business to financial stability that subsequently sold for $30M. Restructured debt and re-financed all loans to acceptable payments. Set up payment agreements with vendors. In 2 years, all debt payments were current and all vendors were willing to extend credit based on company’s new track record of honesty and integrity. Ultimate sale of company within 4 years of my hire date yielded $15 million in profit to the owner.

Designed/implemented entire finance department for start-up of joint venture company, including development of accounting system with detailed individual operations pro forma (with job costing system), and budgets/forecasts. Secured financing for development and start-up of 7 different operations under the parent’s umbrella.

CAREER HISTORY OF DRIVING PROFITABILITY THROUGH FINANCIAL EXCELLENCE

Chief Financial Officer EXPENSE ASSIST, LLC 2017-present

I was recruited thru my Linkedin Profile and joined this WV Start-Up financial tech software and services company in April 2017. Since that time, I have been responsible for business development thru networking and marketing, in addition to writing content articles for training and general informational articles and assisting in the development of legal agreements utilized with our business partners and associations. My broad based accounting and leadership experience is one of the reasons the Founder/CEO of Expense Assist reached out and recruited me for this position. My financial acumen is very beneficial to the guidance of our company’s business decisions and allows me to converse on a CFO’s level for the benefits offered by our software and services. We are a cost reduction and revenue retention business and have been stirring a lot of attention among business accelerators and business leaders in our area. My impeccable record of honesty and integrity has been well-received by clients and the leadership of Expense Assist, LLC.

SENIOR BUSINESS ANALYST GLOBAL RESOURCES, LLC 2016

I performed business analytical surveys for small to mid-sized privately held businesses to address the issues that the business owner/client was experiencing. Recommended plan of action for the client and implementation of the solutions that Global Resources provided. I utilized my 38 years of accounting and business experience to educate the business owner of the various options that he/she could employ to help them meet and exceed their personal & business goals.

CO-FOUNDER–CHIEF EXECUTIVE OFFICER Lease Royalty Consultants, LLC (90% owner/100% control) 2013-2014

FOUNDER–CHIEF EXECUTIVE OFFICER Robinson Consulting Group, LLC 2013-present

Founded/Co-founded 2 highly successful consulting companies working in tandem with each other. With Lease Royalty Consultants, LLC, personally perform valuable service to land/mineral owners in audit of mineral royalty leases for compliance with lease language and accuracy of royalty calculations/payments. Robinson Consulting Group, is vehicle for performing all types of consulting services dedicated to cost reduction, profit maximization, business turnaround activities, due diligence, accounting systems design/implementation and full detailed operating lease audits.

Achievements:

Performed audit of lease owned by 3 different major land owners. Audit yielded huge financial corrections (~$5M) that will continue to produce positive effects throughout lease.

Uncovered maneuver by operator that had gone undetected by multiple prior audits over the past 3 decades, which unfairly compensated the lessors for their mineral leases. Repercussions of this audit will have a very large positive impact from recovered lost revenues (anticipated damages due to landowners are in the millions), due to unethical business practices that were contrary to the lease language being discovered under my performance of the audit.

CHIEF FINANCIAL OFFICER Pallas Holdings, LLC 2010-2012

Full charge of all accounting/financial matters for 14 various companies (WV, KY and VA), utilizing various production methods to deliver their customers’ product. Combined annual sales of ~$100M.

Supervised 4 employees and reported directly to owners (2 owners). Created monthly P&L’s/financial statements for each production site that rolled up into Holdings Company. Frequently called upon to secure financing for capital projects.

Implemented tax law that allows operator to exclude a specific segment of their sales resulting in a $1.3M/annual saving, as well as recovered tax previously paid on export and domestic sales from Federal Government.

In 2012, assisted owners in splitting ownership of operations.

CHIEF ACCOUNTING & FINANCIAL CONSULTANT WWMV, LLC 2009-2010

Functioned as CFO on ground floor of joint venture start-up for 11 different operating sites. Reported directly to 4 partners that owned 51% of the joint venture. $250M budget with annual revenues of >$500M.

Designed/implemented accounting structure i.e. chart of accounts structure, purchase order system, budget models, cost tracking models, etc. Ran day-to-day accounting functions for each operation. Prepared budgets for all active operations plus future 6 operations to be developed. Utilized budget preparations as marketing tool for investors. Original plan for JV was to get 3 sites in operation, continue to work on obtaining permits for remaining properties, and sell total package to another group of investors.

Set up complete finance department including setting up accounting software to designing chart of accounts, to setting up purchasing department and securing credit from vendors and lending institutions.

Created budget models and financial system to study individual contributions to P&L (per location) to control costs and maximize profitability of each operation.

Provided all financial data, financial analysis and presentations to attract potential investors/buyers of JV.

Implemented upgraded accounting software system with vast flexibility;

–valuable tool to analyze financial condition of each operation and to secure capital dollars for expansion.

–eliminated external CPA firm accounting costs of $77K/annually to prepare quarterly consolidated financials.

–brought in-house fixed asset/depreciation program immediately saving $5K/year.

Installed remote access capabilities to mine sites and hired purchasing agent to achieve real-time access of liabilities.

CONTROLLER AMG Inc. 2004-2008

CHIEF FINANCIAL OFFICER Parkstone Energy, LLC 2008-2009

CHIEF FINANCIAL OFFICER Eagle Energy, LLC 2009-2009

During tenure business changed ownership 3 times.

Hired as Operations Controller, reporting directly to owner. Solely accountable for all accounting functions covering 8 different operating sites in addition to several other companies that handle engineering services, administrative services, land companies, etc. of $50M+. Directly supervised 1 person.

Designed/implemented cost-tracking models/budgets for premier custom house construction business that accurately allowed profitable bids for 1st time in company’s history.

Above system worked so well, owner requested similar model to be created for other operating sites. Created daily cost programs for each operating site allowing management to keep better handle on cost management of operations.

Eliminated external CPA firm’s services for all but preparing annual tax returns, saving >$300K/year.

Automated month-end/year-end closing activities for General Ledger for all of companies managed, reducing time required to close monthly company financials from 10+ days to 3 days.

AMG sold to Parkstone Energy in 2008. Promoted to Controller/CFO.

Converted manual purchasing procedures to automated, remote access Quick Books program that permitted operating sites to be online with corporate office to input all purchasing related data.

Parkstone then sold to Eagle Energy, LLC in 2009.

Transitioned sale of Parkstone Energy to Eagle Energy. Accounting procedures that I had previously installed performed flawlessly during transition, allowing for accurate and timely Balance Sheet beginning balances for new company. Personal position was then outsourced.

CONTROLLER Kempco Company Inc. 1999-2004

Chief Financial Officer of $50M business for 17 privately owned companies which spanned 3 states, consisting of energy companies, construction businesses, equipment sales/rental business, strip mall development/construction, and accounting-management services. Supervised 5 employees, and accountable for budgeting, P&L, forecasting and cash management functions for each company.

Upon hire, immediately reduced debt >$3M from balance sheet that had been inaccurate by hundreds of thousands of dollars.

–refinanced debts to reduce monthly payments by 1/3 of original amount and allow better cash flow.

–set up payment plans with vendors.

–engineered equipment auction to sell off any unused/unneeded equipment.

Implemented entire computerized accounting system for all 17 companies (previously done manually by tax consultant). Designed cost, budgeting and cash forecasting, GL and other major components of software package.

Created education benefit that would reimburse employees for education expenses.

Turned companies around within 4.5 years - from bankrupt state to being sold for $30M.

Post sale, retained by owner to turnaround Mall Development Company’s financial statements that were rejected 3 times by lender for renewal of loan and line of credit. Reviewed/made corrections of financial data and created corrected Income Statement and Balance Sheet.

Presented revised financials/documentation to bank and received all requested renewals.

–Re-classed all development expenses from Income Statement to Balance Sheet (classified as asset under WIP).

–Discovered/corrected $18K overpaid to lumber company.

Subsequently owner of Kempco Company, Inc. sold all operations and shut down remaining businesses.

Achieved excellent ratings on reviews and audits by external CPA auditors and Financial Institutions.

Allowed owner to realize a $15 million profit on the sale of his businesses that were in bankruptcy prior to my start date 4.5 years earlier

Prior Positions included:

ACCOUNTING MANAGER Cannelton Industries/Cyprus Amax 1990-1999

Automated month-end closing process thereby increasing accuracy and reduced closing time from 2 weeks to 3 days.

ASSISTANT CONTROLLER Arch Mineral Corp. 1989-1990

Developed daily cost model that tracked production cost within a 99%+ accuracy rate. Developed model to track the efficiency of the major equipment operators and the maintenance availability of all large pieces of production equipment.

CONTROLLER Island Creek Corp. 1986-1989

Developed daily cost model that tracked production cost within a 99%+ accuracy rate. Automated budget process thereby increasing both accuracy and efficiency in completion of the annual budgets and quarterly re-forecasts.

ACCOUNTING MANAGER American Electric Power 1980-1986

Implemented Fixed Asset Tracking System which ultimately resulted in thwarting a $10 million law suit arguing the accused disappearance of multiple assets purchased by the new owner in 1984.

After the three local operating divisions were buttoned up in late 1984, I transferred to the Power Company Division and subsequently completed their management training course. After completion of my training, I took control of one of the Division offices whose Accounts Receivable collections were the worst in the entire multi-state AEP companies. Within two months of my leadership, I had restored this Division to the top of the list of best credit collections within the entire AEP system.

COST ACCOUNTANT O. Ames Manufacturing Company 1979-1980

Increased efficiency and accuracy of Standard Cost Accounting System by remaining a hands-on Accountant who learned by observing the production personnel in their piece rate working environment. Improved communication between my cost accounting department and the operational personnel and supplies personnel resulted in improved accuracy of inventory counts and improved accuracy for the standards set for each phase of the finished product.

INTERNAL AUDITOR Charleston National Bank 1978-1979

Improved relationships between various departments of the bank with the Internal Audit Department by remaining personable while maintaining professionalism during each phase of every audit.

AUDITOR Suttle and Stalnaker CPA’s 1978-1978 Summer Internship

Performed audits for firm’s clients

CAREER SUCCESS ACHIEVED THROUGH FOUNDATION OF STRONG PROFESSIONAL DEVELOPMENT

Masters of Business Administration West Virginia College of Graduate Studies Marshall University

Bachelor of Science – Accounting Morris Harvey College University of Charleston

Received tuition scholarship for scholastic achievements - graduated Magna Cum Laude

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