MICHAEL G. ELEFTHERIOU

**** ******** ****** *****; Edina, Minneapolis; Minnesota 55435; USA.

email: adwfll@r.postjobfree.com; mobile: 612-***-****; Residence: 952-***-****

email: adwfll@r.postjobfree.com Tel: 952-***-****

PRESIDENT, CEO, COO, BOARD DIRECTOR,

EXECUTIVE MANAGEMENT, M&A, TURNAROUND, GLOBAL EXPERIENCE

Senior executive with proven business & financial accomplishments, domestically & internationally, experienced in:

P&L financial management, strategic planning, budgeting, execution, cross-functional organizational effectiveness.

Business turnaround, assessment, change management & reengineering; business transition and refocus.

Business and market Development, Marketing, Sales Management, client relationships in commercial and government space; strategic alliances, distributor networks, and OEM ventures.

Negotiations, implementation, & program management of large complex IT projects, in diverse cultures. Manufacturing, Quality programs, ISO 9000 implementation.

Running profitable operations, sales, professional & engineering services, product & software development, outsourcing.

Global Business with leadership assignments in USA; Europe; Far East (India, China, Singapore/ASEAN, Japan, Taiwan, Korea, Australia); Mexico; Middle East (Iran, Egypt, Libya).

M&A experience, spin-off, going private, sale of assets, restructuring, purchase transactions, due diligence.

Information Technology, hardware, software, applications, large systems, network infrastructures, and integration.

BOD Directorship; Image Sensing Systems (ISNS), Chair Compensation committee, & member Audit Committee.

PROFESSIONAL EXPERIENCE

PRESIDENT

NJK HOLDING CORPORATION

July 2011 – Present

Minneapolis, Minnesota

President of NJK Holding, a Private Investment enterprise focused on High Technology companies in the area of Cyber Security Software; Advanced High Performance Programmable Computational Systems-on-Chip; Mobile Apps for image and video data compression; Mobile Apps for Mobile E-Commerce; Predictive Analytics Software; and Enterprise level Systems Integration for US Government, Allied & Friendly Governments, and Enterprise. Oversight of NJK entities’ Executive Management in the design of Strategy, Strategic Planning, Direction, Budgeting, P&L monitoring, Employee Incentive Programs, including Equity participation Programs, Financial and Business performance, Funding, Strategic and Operational execution, investment relationships. Oversight of JV with the Hinduja Group of UK, on behalf of NJK. Responsibility for the oversight of several portfolio active and passive investments. Participation as Director on BODs.

PRESIDENT OF M&A and BUSINESS OPERATIONS

NJK HOLDING CORPORATION

September 2010 - June 2011

Minneapolis, Minnesota

Responsibility for the Evaluation, Assessment, Due-Diligence and consummation of Investment Transactions,

As well as overview of the acquired or formed entities post acquisition.

EXECUTIVE VICE PRESIDENT

NJK HOLDING CORPORATION

September 2009 – August 2010

Minneapolis, Minnesota

Responsibility for Business Development, Operational Oversight, and Strategic Planning

DIRECTOR ON THE BOARD OF DIRECTORS

IMAGE SENSING SYSTEMS (NASDAQ: ISNS)

April 2002 - April 2012

Minneapolis, Minnesota

Director on the BOD, and member of the Audit Committee, and chair of the Compensation Committee of ISNS, a publically traded (NASDAQ: ISNS) software and engineering technology company that develops and markets intelligent video and radar processing solutions and products, for use in vehicle traffic management applications such as intersection control, highway, bridge and tunnel traffic management, and associated data collection.

PRESIDENT AND COO

ZOMAX INC.

August 2008 - August 2009

Dublin, Ohio

President and COO of this $120 mil per year revenue, digital media replication and logistics fulfillment business. The business is privately held as part of the Comvest portfolio (NJK Holding passive investor). The company is positioned as a critical link in major IT companies’ supply chain; key customers such as Dell, Hewlett Packard, Apple, Computer Associates, Webroot, are serviced by the company. Task at hand to manage the business in an environment extremely challenging given the competition presented by the internet-based download offerings. Major initiatives had to be undertaken in terms of re-engineering and re-structuring the company to respond to the severe business difficulties of the industry, and the tightness of the market as represented by the softness in the business of key accounts.

EXECUTIVE CONSULTANT

COMVEST INVESTMENT PARTNERS

November 2007 - July 2008

Palm Beach, Florida

Executive Consultant in a post-investment or in the pre-investment and review stage of potential investments and acquisitions. Additionally, act as Comvest’s representative on post-closing activities for the concluded sale of Catalyst International. Act as an operations and business voice with respect to companies that Comvest desires to invest in, or has already invested in; services including research and analysis, due diligence and business viability review, covering technology uniqueness, positioning, market analysis, management skills analysis; additionally provide M&A advisory services, business assessment, strategic alternatives, turnaround strategies, mentor CEO and/or management, and selectively serve on BOD of post investment business concerns. (NJK Holding is a Comvest investor).

PRESIDENT AND CEO

CATALYST INTERNATIONAL, Inc.

July 2005 - October 2007

Milwaukee, Wisconsin

Chief Executive managing this $ 40 MM annual revenue, Supply Chain Software company, (an NJK Holding passive investment) focused on the development of supply chain execution software, associated services and professional services practice implementing its proprietary software, and the SAP WM/EWM suite. The business was acquired by a private investment fund, and the accomplishment was to turn around the business from a loss position of about $1MM per month to a profit position of a $1MM per quarter in the span of eighteen months. Rightsized the business and ensured the completion of the state-of-the-art supply chain software in Java, OAG standard, including multi-byte enablement and the Chinese language implementation. Additionally, developed an advanced SAP implementation practice and ensured the broadening of the business footprint beyond North America, to Mexico/LA, Europe with HQ in London, China with nucleus in Shanghai. The company has been making solid progress in acquiring quality business, and in capturing and developing large accounts such as GM, Home Depot, Sony, Smith and Nephews, Johnson and Johnson, LeGrand, Shanghai GM, Solectron, Boeing, etc..and in restructuring the operating capital, and it was sold as a solid going concern to ChinaDotCom/CDC-software Sept15,07 satisfying the exit strategy of the private investment fund.

EXECUTIVE VICE PRESIDENT

NJK HOLDING CORPORATION

January 2005 - June 2005

Minneapolis, Minnesota

Responsibility for Business Development and Strategic Planning.

PRESIDENT & MEMBER OF THE BOARD

IMAGING ACCEPTANCE CORPORATION

August 2004 - December 2004

Warrenton, Virginia

Responsible for the strategic planning and operations of this specialty company (NJK Holding property) focused on the conversion of information from hard media to digital data bases. Ensure that the business growth is attained while enhancing the profitability and cash flow of the company. Particular attention paid in the project management & implementation process, and in the business development acceleration as well as in the forging of partnerships. Assessment of relocating the company to a larger center in Virginia for access to talent pool, and for proximity to the government clients and prime contractors.

PRESIDENT & CEO & MEMBER OF THE BOD

CREATIVE PUBLISHING INTERNATIONAL

January 2001 - July 2004

Minneapolis, Minnesota

Chief Executive managing this $30 mil annual revenue, high end publishing private company, (NJK Holding property) specializing in development, production, and distribution of titles in the space of Home Improvement, Arts & Crafts, Nature and Outdoors, Juvenile and Adult. Turned around the company to profitability and positive cash flow, while designing and executing strategies strengthening it organically and via acquisition; and finally selling it to British publisher Quarto per exit strategy.

PRESIDENT, SYSTEMS INTEGRATION SERVICES

CONTROL DATA SYSTEMS

January 1998 – December 2000

Arden Hills, Minnesota

Executive heading Syntegra’s $90MM Systems Integration business group (Syntegra, British Telecoms-NYSE:BT) that provides architecture, implementation, and support of systems integration solutions in the space of client-server, storage, and network integration; and operates a manufacturing facility for pc board manufacturing and repair. Responsible for strategy, operations, sales, quality, and communications. Reports to the CEO, managing a 400 persons organization.

Provided direction & vision, and designed & implemented strategies to guide and foster the growth of the systems

and network integration business, while meeting infrastructure requirements in the E-commerce arena.

Successfully transitioned business, from proprietary systems with declining revenues, to growing systems

integration new business, while maintaining significant profitability.

Achieved revenues of $90MM at a net operating profit in excess of 20%. This achievement generated large cash

infusions supporting the investments needed for the new E-commerce business.

Saved millions of dollars in restructuring charges by successfully implementing a transition plan that retrained

professionals in new technologies and project management, thus building significant business value.

Played a key role in preparing and packaging the company as an attractive business entity going private, in the

successful acquisition by the investment firm Welsh, Carson, Anderson and Stowe, and the subsequent sale to the integration unit Syntegra of the international conglomerate British Telecoms.

revamped the previous manufacturing facility to a modern state of the art outsourcing manufacturing and repair factory, iso 9000 certified, and producing advanced pc board work, and solid financial performance.

VICE PRESIDENT, WORLDWIDE TECHNICAL SERVICES

CONTROL DATA SYSTEMS, INC. (NASDAQ: CDAT)

January 1996 - December 1997

Minneapolis, Minnesota

Executive responsible for leading the organization providing technical and professional services in support of the proprietary and UNIX systems and associated networks with $85MM in U.S. revenues, and supporting $35MM in European and Asian technical services revenue.

Achieved gross margins over 50% with an average net profit of 23%. Leveraged organization to generate

incremental services revenues inside and outside the customer base.

Vigorously drove cost reduction efforts by reducing management structure, flattening the organization, and implementing creative initiatives in asset management.

Provided vision and direction to institute continuous training and upgrading of technical skillset of the talent pool that greatly enhanced transition from declining legacy business to the new systems integration model.

Built effective and strong strategic partnerships with Silicon Graphics, Sun Microsystems, 3-Com and Oracle that leveraged their technologies and platforms for use in the emerging systems integration business.

VICE PRESIDENT, WORLDWIDE OPS ASSESSMENT & PLANNING

CONTROL DATA SYSTEMS, INC. (NASDAQ: CDAT)

January 1995 to December 1995

Minneapolis, Minnesota

Responsible for conducting business performance assessments of all operating business units, and subsidiaries, in US, Europe, Asia, Mexico. Accomplished the objective by developing a very systematic and unique methodology for business assessment, and presented consolidated results to BOD, based on which company reengineering took place

Conducted assessment process to ensure corporate governance, to provide insight into strengths and weaknesses of

field operations and subsidiaries, ensure profitability, develop plans for growing strategic business and divesting of non-strategic business activities.

Developed and implemented business plans to correct underperforming operations and followed-up progress systematically with the country and regional executives to evaluate implementation success. This assessment process provided a complete picture with detailed data of worldwide operations that helped align the sale of businesses to Ameridata/GE Capital and later to Welsh, Carson, Anderson and Stowe.

VICE PRESIDENT, U.S. FIELD OPS & PROFESSIONAL SERVICES

CONTROL DATA SYSTEMS, INC. (NASDAQ: CDAT)

July 1994 - December 1994

Minneapolis, Minnesota

As Vice President, U.S. Field Operations, restructured the organization to respond to the decline of the legacy

business and built and launched a business management methodology in synch with the requirements of the new systems integration model.

Established discipline and process to pursue and fulfill business in a timely and profitable manner and leveraged the

skill-set capable of conducting the electronic commerce business.

MANAGING DIRECTOR, CONTROL DATA MEXICO, MEXICO CITY

CONTROL DATA SYSTEMS, INC. (NASDAQ: CDAT)

July 1992 - June 1994

Minneapolis, Minnesota

Lead the third largest Control Data subsidiary and accomplished the mission; established growth strategies, corrected balance sheet issues, applied a disciplined process to cost control, improveed the overall financial performance, and repatriated cash to corporate. A successful turnaround. Was promoted to Vice President following this success in Mexico.

Reorganized the subsidiary and positioned the business to execute the corporate strategy for the new systems

integration model. Interacted directly with large commercial clients and government entities, to reestablish the confidence of the marketplace in Control Data.

Enhanced the balance sheet, paid off company debt, and generated profitable business that allowed the

subsidiary to meet its financial performance goals, as well as building substantial business backlog. Bid and won significant government projects in imaging and data management and returned $13MM in cash to the parent company in just one year.

GENERAL MANAGER, CYBER SYSTEMS WORLD-WIDE MKTNG & OPS

CONTROL DATA CORPORATION, (NYSE: CDC)

January 1990 - June 1992

Minneapolis, Minnesota

Based at corporate headquarters in Minneapolis, assumed the executive function for the worldwide marketing and operations activities of the Cyber proprietary line of computer systems which constituted approximately 70% of the Computer Products Group revenues, including marketing, hw/sw development, sales, user groups interface.

Developed positioning, marketing, pricing strategies, and special programs for the Cyber line. Also developed a long-term strategy addressing the synergy with and the transition to open systems architectures from the proprietary base thus extending its life and revenues.

PRESIDENT

CONTROL DATA INDO-ASIA, CONTROL DATA CORPORATION, (NYSE: CDC)

January 1985 - December 1989

Singapore

Executive Regional Management of Operations and Sales for the territories of India, South East Asia Countries (Singapore, Malaysia, Thailand, Indonesia, Philippines), Japan, Australia, based in Singapore

VICE PRESIDENT

CONTROL DATA INDO-ASIA, CONTROL DATA CORPORATION, (NYSE: CDC)

January 1981-December 1984)

Minneapolis, Minnesota

OPERATIONS MANAGER

CONTROL DATA CORPORATION (NYSE: CDC)

Territory of Iran, India, China

January 1979 – December 1980

Brussels, Belgium

In this series of assignments, responsibilities encompassed developing and managing business in India and Asia with noted successes in winning large-scale systems business in India, the PRC, Thailand, Malaysia, and Indonesia. Concluded a technology transfer program for the manufacturing of mainframes in India with the support from the governments of the two countries and with AID financing that resulted in over $100 MM in revenues to Control Data, also allowing the pioneering of outsourced to India of Control Data’s operating systems support. Developed significant Disk Drive OEM business in the entire territory and assisted in the establishment of two Imprimis factories in Singapore under government preferential pioneer status in record time.

EDUCATION

INSEAD, FRANCE

Institut Européen d’Administration des Affaires, France

Executive Management Development Program Diploma ; (mini-MBA).

1986 – 1986

Fontainebleau, Paris, France

As a Control Data Executive, obtained this INSEAD accelerated Mini-MBA degree primarily offered to high potential executives with Global & International responsibilities.

NATIONAL TECHNICAL UNIVERSITY OF ATHENS

College of Electrical and Mechanical Engineering,

Integrated Master’s Degree Diploma

1969 – 1971

Athens, Greece

CAIRO UNIVERSITY

College of Electrical Engineering – Electronics and Telecommunications

Bachelor’s Degree (BSc)

1962 - 1967

Cairo, Egypt

AWARDS

At Control Data,

I was selected to the annual Chairman’s 100% Club, seventeen times, in recognition of exceeding business and sales goals, and

I was selected twice in the Chairman’s Club.

Was awarded the Smithsonian award for the creation of the largest Civilian Data Base Management application in the world, for the Government of Thailand.

Professional Associations: A keynote speaker at the Indo/US Business Council, Singapore/American Association, American High-Technology Council in Mexico, and worldwide Control Data customer & user forum corporate interface.

Business Quality: Executive responsible for obtaining ISO 9000 certification for Control Data’s operations.

LANGUAGES

English, Greek, Arabic, French, Spanish

GLOBAL EXPOSURE & EXPERIENCE

Experienced in Managing business and organizations Globally, comfortable and effective with diverse cultures having covered, lived and worked in numerous Territories, including USA, Middle East (Iran, Egypt, Libya), Europe (Germany, Belgium, France, Portugal, UK, Austria, Italy, Greece), ASEAN (Singapore, Thailand, Malaysia, Indonesia), Australia, India, China, Japan, Korea, Taiwan, Mexico.

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