Management Customer Service

STEVEN M. WHITCOMB, C.P.A.

Senior financial Executive with international, acquisitions, IPO, systems,

manufacturing, turnaround experience

570-***-**** aca5r4@r.postjobfree.com 324 Big Ridge Dr, East Stroudsburg,

PA 18302

CORE COMPETENCIES

. International Business

. Acquisitions

. Organizational Restructuring

. Financing - Debt, Private Equity, IPO

. Turnarounds

. Internal Controls

. Financial Accounting (GAAP and IFRS)

. Cost Accounting (Standard and Activity Based)

. Budgeting and Forecasting Systems

. Integrated Project Management

. ERP/CRM/Accounting Systems

. Cash Management

. Process Reengineering

. Financial and Operational Auditing

. Strategic Planning

PROFESSIONAL CHRONOLOGY AND SELECTED ACCOMPLISHMENTS

DMI Manufacturing, Inc. - CFO 2008 - present

Start-up manufacturer and developer of energy management equipment.

. Set up accounting, manufacturing, purchasing, cash management and human

resources systems;

. Developed manufacturing and QA systems to allow product to be assembled

by handicapped workers;

. Reconstructed accounting records from chaotic start-up. Took accounting

systems from a "box full of receipts" to accurate, timely, meaningful

state;

. Obtained bank, state and private equity financing;

. Developed and maintained relationships with customers, distributors,

suppliers, bankers and outside advisors;

. Obtained support of the state agency Ben Franklin Technology Partners;

. Developed business plans and investor materials.

The VMC Group - CFO 2006 - 2008

$30M manufacturer of vibration isolation and control products for the HVAC,

construction, and military aerospace markets.

. Led restructuring of accounting department after sudden, unannounced

departure of predecessor;

. Led analysis and due diligence for acquisition of largest competitor;

. Developed systems to monitor daily line of credit availability and assure

compliance with loan covenants;

. Implemented controls to eliminate the causes of a $250,000 inventory

shortage;

. Implemented new ERP system (Epicor Vantage);

. Implemented annual budgeting and planning process.

Plant Health Care, PLC - CFO 2001 - 2005

Manufacturer of natural plant care products for the agriculture,

horticulture, arbor, land reclamation and turf care markets. Operations in

five countries.

. Led financial turnaround of company from bankruptcy to an IPO. Prepared

offering memo, negotiated with bankers and attorneys, made investor

presentations, developed legal restructuring plan and share exchange;

. Set up cash management system and short-term financing to address the

inherent seasonality of the business;

. Led acquisition of Myconate product line;

. Implemented new accounting, CRM and ERP systems (SAP Business One) in an

environment where no advanced manufacturing or inventory systems had

existed before.

Knowledgeplanet.com - Vice President and Controller

2000 - 2001

Leading developer of web-based competency and learning management software

and services.

. Prepared financial analysis and private placement memo for $47M private

placement with institutional investors such as GE, Merrill Lynch,

Wachovia and AIG;

. Developed cash management and forecasting systems.

STEVEN M. WHITCOMB, C.P.A. Page 2

Keystone Industries - Vice President and Controller 1993 -

2000

World's leading manufacturer of highly engineered railroad products,

including cushioning, buffers, draft gears, locomotive HVAC systems, and

dynamic braking systems. Seven companies with sales of $175M.

. Led negotiations, due diligence and integration of French, Czech, German

and US acquisitions that enabled the company to go from a standing start

to a dominant market share. Set up reporting and control systems and

organizations in newly acquired companies to meet both U.S. management

and local fiscal and legal requirements;

. Restructured systems to address key business issues and strengthen

inventory and cost controls; eliminated the causes of a $1.2M inventory

shortage. Reduced month end closing time from 8 days to 3 days. Reduced

financial transaction processing costs by a third through process re-

engineering and outsourcing;

. Project champion for implementation of integrated ERP system that was

completed on budget within 10 months and resulted in a $1.5M reduction in

inventory, 95 per cent customer service levels and record sales volumes.

Wimpey Minerals, USA - Corporate Controller 1991 - 1993

US quarrying, metallurgical and road building operations of a $3B UK

company. Six operating companies, $100M sales.

. Led multi-functional team in the selection and implementation of new

accounting systems the integrated project accounting and financial

reporting, including Percentage of Completion accounting;

. Reduced month-end closing time from four weeks to four days while

improving overall accuracy of reported information;

. Reduced line of credit borrowing by $1M and bank transactions costs by

$100K by negotiating a new line of credit and creating a cash management

system.

AMP Incorporated 1978 - 1991

Fortune 200 world leader in electrical connectors; operations in 30

countries.

Controller, Matrix Science Corporation

- Restructured reporting systems and procedures to address critical

business issues and bring integrity to the reporting process after an SEC

action had led to the dismissal of three officers. Improved monthly

closing time from 21 to 3 days;

- Developed standard cost system of 75,000 part numbers to ensure

compliance with FAR and CAS regulations, as well as an activity based

costing system after prior management had failed to maintain the system

for 3 years and had dismissed all Cost Accounting and Industrial

Engineering personnel;

- Established a data center (largest AS/400 installation in LA County) and

installed new ERP system, providing timely, reliable information for the

first time, reducing inventory by $7M and past due orders by 60%;

- Supervised the company's defense with outside counsel in eight lawsuits,

actions, or examinations inherited from previous management. These

included the DCAA, IRS, EEOC, OSHA, and the SEC. Developed analysis of

customer orders, shipments and payments that was the centerpiece of the

successful defense of a $10M civil suit.

Corporate Director of Internal Audit

- Rebuilt Internal Audit department. Recruited and trained 40

professionals, half of whom became managers;

- Developed audit risk analysis to guide allocation of resources. Set up

new Audit bases in Japan, Germany, Italy, the UK and the U.S. to improve

audit coverage and address areas of the highest control risk;

- Set up the first formal EDP audit function in the company, including a

Manager and three staff. Performed first EDP audits in the UK, France,

Italy, Germany, the Netherlands, Japan, and Singapore;

- Developed cooperative audit approach with operating management, resulting

in a record number of audit reports and more than $4M in annual savings.

Manager, Internal Audit - Europe (Slough, England)

Staff Internal Auditor

Stockton Bates, & Co., CPA's 1975 - 1978

education

The Wharton School, University of Pennsylvania - MBA, Finance and

Information Systems

Cornell University - BA, Psychology and Economics

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