ROBERT SHATANOFF, CPA

*** ****** ********** ***** * acxjvz@r.postjobfree.com

Palm Harbor, FL 34683 727-***-****

CHIEF FINANCIAL OFFICER- CHIEF OPERATING OFFICER

Experienced CFO-COO and CPA Acquisitions Corporate Restructuring Tax

Results-driven CFO-COO with proficiencies in corporate reorganization and strengthening financial and organizational

operations to maximize profitability and streamline services. Proven success in orchestrating financial operations in order to meet

corporate objectives. Outstanding strategic and tactical financial expertise planning in cost controls, financial reporting and

enhancing productivity with expertise in cost containment, candidate evaluations, and post-acquisition integration. Completed

training in the Kaizen approach for financial management and operations. Excellent interpersonal communication skills with the

ability to consistently drive revenues above targets and complete projects on-time and under budget. Areas of strength and expertise

include:

Mergers & Acquisitions Financial Turnarounds

Federal & State Compliance Business Process Improvements

Operational & Capital Budgets Operations Management

PROFESSIONAL EXECUTIVE EXPERIENCE

NATIONAL LABORATORIES LLC (TREATMENT MANAGEMENT LLC), Stuart, FL 6/2015-

present

National Labs is a toxicology laboratory designed for specific needs facing the treatment and addiction field and those in the recovery

community. In addition, introducing the testing of patient blood chemistry

Chief Financial Officer- Chief Operating Officer

Built a new lab and made it operational within 69 days. This included validation of two Shimadzu 8050 LCMS and AU 400. In addition,

workings with an outside consulting group to design four customize LCMS panels which addressed the new synthetic drugs. First year

EBITDA is estimated to be about 70 million. Rebuilt the current non- efficient lab into an operating lab in 30 days with the LCMS operating at

max capacity prior to opening the new location.

Introduced 24 hour turnaround time on LCMS confirmations and processing 300 samples per day

Reduced the use of the an outside confirmation lab within 45 days of taking control of the existing lab

Reduced reagent costs by 35% and supply costs by 40%

Addressed the changing insurance company reimbursement environment with the G codes and medical necessity

Opened 3 satellite labs within 30 days ( COLA compliant)

Optimized the use of the LIS system to apply controls to avoid excessive testing

Improved financial and operational controls with the changes taking place in reimbursement area with CMS and the various

third party payers.

Started the process of moving into the blood chemistry, hematology and Gnome testing and Immunology.

Introduced analytics which target the optimal source of revenue.

Introduced providing lab services to other detox facilities and the rollout of a sales program as additional sources of revenue.

ROBERT SHATANOFF, CPA

2 P a g e acxjvz@r.postjobfree.com

727-***-****

NEW ADVANTAGE CORPORATION (NAC SEMI), St Petersburg, FL 7/2014 7/2015

NAC Semi is a global franchise and independent stocking distributor for both military and commercial semi-conductor components operating

in the US and Asia.

Chief Financial Officer

Improved financial and operational workflow whereby EBITDA has improved significantly over prior years. Restored profitability

within 7 months by implementing new operational policies.

Reorganized purchasing and reviewed all operational costs to reduce from 42% of gross revenue to 32%.

Reduced accounts payable by 50% within 5 months.

Partnered with vendors to restore terms.

Negotiated settlements with major supplier in order to return to profitability.

Collaborated with the outside lender to provide bridge financing.

Introduced the use of analytics to determine which customers created the most profit and which vendors provided

the best pricing.

Created additional silos of gross revenue as a result of changing market conditions.

FINANCIAL PERFORMANCE MANAGEMENT CONSULTING, Clearwater FL 9/2013 Present

Consultant

Providing financial and operational consulting for an emergency room management company with 5700 employees.

Addressed operational and system inefficiencies and ways to improve efficient and optimal use of resources.

Financial and tax restructuring of 30 LLCs in order to maximize tax write offs and reduce future tax liabilities.

Facilitated turnaround and corporate restructuring in order to manage corporate liquidity, restructuring to balance

competing management priorities, and anticipating unforeseen risk and opportunities, while communicating with

senior management and staff.

THE EDWARDS GROUP, LLC, St Petersburg, FL 2/2013 8/2013

The Edwards Group provides operational support including restructured accounting reporting, tax compliance and risk management.

Director of Finance

Evaluated various entities to determine the accuracy of the financial information being reported.

Hired qualified personnel to conduct in-depth reviews of various entities and identified and resolved issues. Created

monthly variance reports and reviewed with senior management.

Reviewed Risk Management practices, consolidated carriers and policies, and reduced insurance costs while providing

greater coverage. Reviewed the idea of creating a captive insurance company.

Improved accounting information flow processes.

Turned around a wholesale operation, preparing it to be sold.

Structured transactions and agreements, maximizing the tax deductions.

Evaluated software products for consolidated financial reporting and lease management.

Performed federal and state tax compliance and audit issues services.

MANAGEMENT CONSULTING, Clearwater, FL 9/2012 1/2013

Consultant

Provided financial consulting for medical group, reducing monthly costs by $25K- 35K and improving the staff time with patients,

reducing chart errors and increased physician revenue.

Reduced staffing without sacrificing the quality of medical care to the patient. Outsourced billing, improving overall

revenue collections.

Trained staff to optimize patient scheduling for surgeries and office visits. Reduced patient wait time and optimized the

flow of patients.

Formulated new policies and procedures in order to optimize revenue which including patient tracking and

follow up care.

AVEE LABORATORIES, INC ( Alere Inc), Clearwater, FL

2/2010 8/2012

ROBERT SHATANOFF, CPA

3 P a g e acxjvz@r.postjobfree.com

727-***-****

A screening laboratory for urine toxicology and drug confirmation. Company sold to Alere, Inc. in October, 2011.

Chief Financial Officer

Recruited by the owner of Avee Laboratories, Inc. to position the laboratory as a major competitor in the drug screening industry.

Created systems and developed the financial infrastructure needed to support rapid growth. Advised and educated management

team on all financial matters that impacted the daily operations of the laboratory. Handled all federal and state tax compliance (40

states) including sales tax.

Coordinated monthly closing including accruals for entities (136 subsidiaries overall) and ensured all balance sheet

and profit and loss accounts were reconciled. Prepared and analyzed trend reports for variances. Addressed ERM issues

and manufacturing issues using just-in-time process to reduce waste and the cost of carrying inventory. The testing

material had a 21 day shelf life thus the need to set up a just-in-time system. Integrated system into the Hyperion

system and still met the 10 day month close requirement.

Reviewed and negotiated managed care contracts and proposals, understanding the specific benefits and risks of each

contractual arrangement.

Negotiated laboratory service contracts with various clinics and hospitals to provide urine testing services (LC/MS).

Collaborated with company leaders to grow gross revenues from $3M in 2009 to $120M in 2011. Expanded staff

from 25 employees to 216 employees in 3-year period.

Achieved 65% EBITA in 2011 with an 85% gross profit margin versus the industry average of 45% EBITA and 70%

gross margin respectively. EBITA for 2011 was $69M (cash basis).

Secured over $10M of equipment without incurring any additional debt.

Developed and monitored productivity matrixes for various departments with the lab operation to gain significant

efficiencies.

Developed KPIs and logistics VSMs for operations management.

Implemented new cost containment programs that included logistics and supply procurement to support more than

2,500-3000 samples per day from 500+ clinics.

INDEPENDENT AGENCY SERVICES, INC., Clearwater, FL 2007 2010 & 2001 2005

Administrative support company for 110 insurance companies, 1 real estate development company and 1 marina.

Tax Director (2007 to 2010)

Recruited back to help retiring owner structure the buyout of the company. Addressed various federal and state tax issues related to

the buyout and to minimize any future tax burden.

Provided financial and tax advice for the new owners regarding the development of new insurance products to be marketed

through major insurance companies under their respective names that generated $15M in royalty revenue. Boosted bottom

line gross revenue to $150M in 2009 and EBITA to $29M.

Chief Financial Officer (2001 to 2005)

Managed monthly reporting for 100 insurance companies. Accountable for banking operations, financial reporting, resolving

internal inconsistencies and incomplete data, and report deadlines.

Identified operational deficiencies and developed corrective action plans.

Improved net revenues in first 6 months through staff accountability, process improvement, and adherence to report

generation timeline.

Negotiated with IRS to negate $300K in penalties and implemented systems to avoid future occurrences.

Implemented direct deposit and positive pay system within all managed companies. Substantially eliminated internal and

external fraud while reducing errors to less than 1%.

Decreased tax preparation time from 3 months to 1 week by effectively training company insurance staff.

Met with state tax officials to ensure compliance. Negotiated settlements when necessary.

Built an effective accounting and tax function to reduce federal and state tax burdens.

AVEE, INC., Clearwater, FL 2005 2007

Compounding and mail order pharmacy with special licensing for compounded injectables. Revenues exceed $15M per year.

ROBERT SHATANOFF, CPA

4 P a g e acxjvz@r.postjobfree.com

727-***-****

Chief Financial Officer

Directed financial and operational activities of full-service pharmacy. Analyzed and monitored sales projections monthly and

established methods to ensure goal attainment. Accountable for tax operations and DEA compliance in 50 states. Implemented

Capital Performance Management strategies. Achieved 70-75% gross profit margin.

Analyzed operations and staff productivity. Automated production process resulting in 50% staff reduction while

increasing productivity by 200%. Reduced per capsule costs from .30 to .09 and increased production from $3K to 22K

capsules per hour through workflow efficiencies.

Spearheaded inbound money order process to effectively streamline deposits.

Obtained production materials through competitive pricing, reducing product costs by 20%.

Developed just-in-time method of purchasing inventory that increased working capital.

Monitored product demand and scheduled resources and inventory based on projections.

OTHER PROFESSIONAL EXPERIENCE

W.H. SIMON & COMPANY, Clearwater, FL 1992 2001

Senior Tax Manager

MOORE, STEPHENS, LOVELACE, ROBY, Clearwater, FL 1988 1992

Tax Manager

ARTHUR YOUNG & COMPANY 1986 1988

EDUCATION LICENSE

Master of Science in Taxation, DePaul University, Chicago, IL

Bachelor of Science in Financial Accounting, University of Michigan, Dearborn, MI

CPA License Florida and Michigan

PROFESSIONAL ASSOCIATIONS

Member, American Institute of CPAs Tax Division Member

Member, Financial Executives International Tampa Bay Chapter

Member, Financial Executives Networking Group Tampa Chapter

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