Chief Financial Officer

Terrence H Tessmer, CPA

623-***-****, ***************@*****.***, Phoenix AZ

FINANCIAL EXECUTIVE/CFO

An experienced Chief Financial Officer with accomplishments in building and automating core financial functions. Guided a large technology company through a period of hyper-growth as the Company increased revenues from $70mm to $700mm in a four-year span on its path toward a successful merger. Accounting, auditing, and financial expertise with a national big four audit firm, second tier public accounting audit firm, consulting firm, and a regional CPA firm. Areas of expertise include:

• Financial and Strategic Planning

• Complex Business and Tax Issues

• SEC Annual, Quarterly, S-1 Reporting

• Government and Construction

Contracting

• Budgeting and Forecasting Development

• Technical Accounting and Financial Operations

• Revenue Recognition and SOX

• Equity Funding and M&A Transactions

PROFESSIONAL EXPERIENCE

CFO Advisory

Fractional CFO and Independent Contractor May 2021 to Present

• Providing executive level finance and accounting services including CFO Advisory Services, Outsourced Accounting, Audit Preparation, System Implementations and Integrations, Business Applications Advisory, Construction Contracting Consulting, Financial Consulting, Due Diligence, and M&A and Transaction Advisory.

• Performed due diligence procedures and reporting on a sell-side merger and acquisition transaction for a labor provider involving Quality of Earnings reporting to independent CPA firm, investment bankers and potential buyers. Consolidation reporting including intercompany eliminations for in-scope entities, due diligence adjustments, proforma adjustments, and management add-backs. Oversaw annual audit compliance and requirements, tax planning strategies, and bank debt compliance.

• Interim financial consultant for mid-size general construction contractor leading staff through initial assurance engagement for two independent entities. Oversaw financial results in job cost accounting, work-in-process accuracy, and profit margin analysis. Consolidation reporting and tax compliance for several construction companies, several real estate companies, and several restaurants.

• Performed accounting outsourcing services including SOX compliance and financial reporting for a Fortune 500 company.

• Interim CFO of commercial and industrial equipment rental business. Implemented software to enhance all facets of financial reporting and coordinated efforts with MSSQL programming developer to establish dozens of new financial reports and layouts. Corrected and restated an accounting error previous undetected and unreported for more than two decades relating to revenue recognition.

• Interim CFO of manufacture and fabrication company. Created efficiencies utilizing many new inventory and accounting processes, including assembly and sub-assembly reporting. Implemented operational policies and internal controls to streamline timely financial results.

• Successfully assisted client through an IRS examination and re-aligned their corporate tax structure. BC Freightways

Chief Financial Officer Aug 2018 to May 2021

• CFO for a PE-backed and asset-based LTL freight services company, hired by PE firm to streamline the business and perform acquisition integration for the two combined companies. Terrence H Tessmer, CPA

• Led the company through three sell-side processes, including QoE and due diligence activities. Sold the assets of the company to Magnum Ltl in April 2021.

• Executed right-sizing strategies to eliminate inefficient rural routes, repositioning equipment, eliminating costly equipment leases, and assessed owner-operator vs. employee-based solutions. Managed companies’ finance initiatives with PE groups, ABL lenders, investors, factors, and bankers. Coordinated conversion of debt-to-equity and refinanced debt with a new capital group & senior lender. Built strong accounting team with some legacy employees and other employees from multiple former employers.

• Successfully procured funding of $4.2mm under the SBA Paycheck Protection Program forgivable loans. Received first funding within a week of the application submittal Daniel’s Atlas Moving & Storage, Inc.

Chief Financial Officer April 2015 to Aug 2018

• CFO of a privately held asset-based full-service top 10 Atlas Van Lines agency. Built financial dashboard utilizing MSSQL and led automation, thus improving efficiencies in accounting, financing, operations, human resources, information technology, financial reporting, banking, taxation, and consolidation.

• Turnaround management. Provided executives and divisional general managers effective and efficient tools and knowledge to improve their top and bottom lines. Efforts resulted in significant EBITDA gains in 2016/2017 after Company suffered losses in 3 previous years.

• Cost savings across all corporate platforms. Refinanced mortgages on corporate facilities and renegotiating all insurances by switching from traditional vehicles to join a group captive. Procured vehicles and equipment through leasing and financing strategies.

GlobalTranz Enterprises, Inc.

Interim Chief Financial Officer April 2014 to April 2015

• Interim CFO for a $700M VC-backed global supply chain & logistics management company. Led all QoE and due diligence activities, raising $40M with Providence Equity Partners through a Series C round. Responsible for writing the legal documents, including investment agreements, schedule of exceptions, Board of Director consents, and flow of funds. Those QoE activities included accounting, audit, tax, stock ownership, legal, and insurance inquiries from investors’ representatives.

• Calculated the price of the preferred and common stock for the transaction, diluted and non-diluted working with law firms and investment partners. Company increased market cap from $100 million to $210 million during Interim CFO tenure. Coordination of stock redemption and issuance to the new shareholders.

• Represented company at several board meetings as acting Secretary and Treasurer for both GTZ and 10-4 Systems

(subsidiary) during critical period. This included preparing and presenting financial results, budgets, working capital issues, system implementation projects, 409(a) valuations for both companies, subsidiary stock redemption, purchase rights and warrant issues, formation of audit committee, and formation of separate 10-4 System’s Board of Directors.

• Approved annual financial statements and management representation letter as lone finance representative in coordination with E&Y audit procedures. Approved and signed Company federal and state tax returns. Controller (VP Level) July 2011 to April 2014

• Directed accounting personnel through five annual Big-4 audits without one significant issue resulting in an audit adjustment or proposed audit adjustment. The Company’s growth during this period started at annual revenue of

$70 million in 2011 up to $700 million in 2014. Prepared Monthly Financial Reporting Package for presentation to the BoD, which include budgets, forecasts, metrics and key performance indicators.

• Coordinated Research and Development analysis with external tax consultants and Company personnel resulting cost savings in federal and state tax credits of approximately $625 thousand. Initiated P card program which gained a revenue share of $400k annually.

Terrence H Tessmer, CPA

• Technical accounting issues including revenue recognition, stock compensation expense, internal software capitalization accounting, tax benefit and net operating loss analysis, consolidation and non-controlling interest calculations, restructuring, and spin-off accounting.

• Oversight of approximately 50 employees in the General Ledger, Treasury, Accounts Payable, Accounts Receivable, Credit and Collection departments. Set approval threshold and day-to-day duties include customer credit decisions, collection and write-off decisions, cash and vendor payment decisions, agent acquisition approvals, personnel decisions, legal proceedings, insurance renewals, banking line of credit negotiations, and filing of tax returns.

• Implemented policies and procedures as well as software automation enhancements to keep ahead of the growth without increasing finance staffing in relative proportions. Identify control weakness and enhanced controls in preparation for SoX compliance in anticipation of an IPO. BDO Seidman, Phoenix, AZ

Assurance Senior Manager Feb 2010 to July 2011

• Led audit and assurance procedures for two 10-K public company filings and related interim 10-Q filings for a Phoenix based client concurrently in bankruptcy proceedings. Opined on client’s internal control assessment through Sox based procedures. Technical accounting areas included revenue recognition, stock compensation expense and fair value accounting on warrants and financial derivatives.

• Presented control findings, significant deficiencies, material weaknesses and audit adjustments to the CFO and Board of Directors.

MorganFranklin Corporation, Washington, DC and Phoenix, AZ Consulting Senior Manager Oct 2006 to Feb 2010

Held Senior management position with national accounting consulting firm, areas of expertise included:

• Outsourcing technical accounting expertise for multi-national Telecommunications Company including software capitalization, foreign currency accounting, impairment analysis, consolidation, and spin-off accounting.

• Preparing several 10-K and 10-Q SEC filings for a Southern California real estate developer.

• Preparing an S-1 for an Initial Public Offering for a Phoenix based Bio-tech Company and represented management in the related audits and review procedures of previous 5 years.

• Executing due diligence procedures for buy-side merger and acquisition activities including system integration and identifying synergies of target.

• Outsourcing technical accounting expertise for MCI Worldwide’s emergence out of bankruptcy. PricewaterhouseCoopers, Phoenix AZ

Assurance Manager Jan 2004 to Oct 2006

• Led audit and assurance procedures for two 10-K public company filings and related interim 10-Q filings for a Honeywell Aerospace. The audit team consisted of approximately 20 employees and these were coincidently the first two years where public companies were required to assess their own internal controls and auditors needed to opine on those controls and management’s assessment.

• Technical accounting issues included revenue recognition, restructuring accounting, consolidation and patent infringement legal review and related accounting recognition. EDUCATION AND CERTIFICATION

Clarkson University, Potsdam, NY, Bachelor of Science, Accounting and Tax CPA Certificate – AZ Current #13348

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