Accomplishments

• Cleaned up financials
• Restructured debts
• Implemented mainland distribution model for wholesale of windows imported from China
• Developed owner-builder financing model and prepared for sale to Honsadore.

• In-sourced accounting records and Implemented new software system for GL and job costing
• Restructured debts and trained staff to handle certified payroll and new software system.

• Completed implementation of Financial Edge fund accounting system for 550 funds
• Prepared for 2 audits
• Prepared budgets and monthly variance reports
• Managed $240M investment portfolio and increased yield by over 500 bpts
• Increased fee revenue by $300k/yr.

• Replaced Controller and reconciled all accounts for 2 years and prepared companies for audit. 
• Corrected Job Costing system in Timberline and implemented procedures to maintain back office functions.

• Completed implementation of Deltek job costing system
• Opened offices in Costa Rica, Thailand and Korea
• Performed numerous efficiency calculations
• Prepared detailed budgets
• Negotiated 8X offer from public company.

• Corrected numerous inventory tracking issues to reduce write-offs by nearly $2M
• Increased working capital by about $1M
• Created separate Business Units (SBU) and restructured organization
• Upgraded technology infrastructure to nearly eliminate downtime, increased Gross profit margin by 500 bpts.

• Corrected financials
• Implemented GPS and web tracking of drivers
• Designed and implemented sales incentive and training program. 
• Increased sales over 30%.

• Corrected financial reports and associated problems with internal controls, operating procedures and staffing. 
• Assisted with franchising effort, refinancing debts, store expansion, evaluation of food products business with sales to nearly 200 stores throughout mainland and corporate restructuring.

• Cleaned up financials
• Restructured debts
• Obtained lending source
• Assisted with multistate service expansion
• Developed budgets and various business models
• Assisted with successful $700k grant application, and Federal DOE administration and compliance over a 3-year period.  The grant also included a Native Hawaiian cultural component which taught Hawaiian cultural values to 5 of the state's lowest performing elementary schools and working with the staff of YMCA and Kamaaina Kids.

• Evaluated various applications for the use of hydrogen gas in vehicles, stationary power, mopeds, residential applications, fueling stations and more. 
• Prepared financial models incorporating all CAPEX and OPEX budgets, which supported the use of an authorized $40M, State backed revenue bond. 
• Owner passed away and business ceased operations

• Joined senior management team of a struggling Big Island brewery selling throughout the state. 
• Revised the reporting structure, strategic plan, and business plan. 
• Negotiated vendor agreements and staved off bankruptcy for over a year. 
• Assisted with restructuring the management team and pursued private equity investors.
• Deal fell through with primary investor and company was sold through bankruptcy.

• Part of new management team to restructure Company in preparation of expansion and potential divestiture. 
• Performed comprehensive analysis on internal controls, billing procedures, collection activities, historical financials, IT infrastructure, HR policies and documents, budgets and "what if" analysis based on changes in Medicare rates. 
• After comprehensive analysis, Physicians decided against a divestiture.

• Performed an overall assessment of the company's internal operating procedures, financial reporting, and profitability by product category and sales and marketing strategies. 
• Identified various issues with financial reporting, inventory management, medical claims denials and reimbursements.  Analysis resulted in rightsizing of organization, facility and staff reduction and focus on most profitable segments of business.

• Prepared financial model to assess economics of constructing and operating Fisherman's Warf as a street eatery and pop-up venue. 
• Evaluated ROI, payback and provided the model which led to the securing of debt and the awarding of flexible lease contract with OHA.  
• Reviewed accounting policies and procedures for recording of various revenue streams and associated costs. 
• Restructured the chart of accounts to provide the proper analysis to monitor performance on various popular events.

• Work with licensed Ophthalmologist and inventor of medical device for the treatment of Dry Eye Disease and other small dermatological cleaning treatments.
• Assisted with utility patent filing process, product engineering, prototyping, commercial packaging, manufacturer selection, and distributor selection, developing sales strategies.
• Also work with SEC attorney to prepare financing package for angel investors and developed detailed models to track monthly performance metrics. 
• Continuing to assist with investor presentation, negotiating terms and continuing to expand the business model.   

• Oversaw CAPEX and OPEX budget for $20M farm construction project on Kauai.  This included detailed review and compliance with construction and operating contracts. 
• Prepared detailed Standard Operating Procedures (SOPs), detailed budgets, complete revision of Chart of Accounts, and implemented tax strategies estimated to yield nearly $2M in tax benefits.

• Oversee all financial aspects of multi-entity tour operator
• Review bank reconciliations, manage chart of accounts
• Review financial results
• Participate in business and tax strategies and change management.
• Tightened internal controls on cash collections, reduced GET, increased compliance with harbor rules and overall profitability.

• Prepared Business Plan and supporting financial model for the brand new construction of a brew house and restaurant in the Kakaako area of Oahu.  
• This includes detailed involvement with brew master, sales director, architect and President in vetting and selection of contractor, design of brewery, product labeling, package sizes, distribution agreements, sales tracking and tax strategies. 
• Selecting and implementing GL software, Point of Sale and Beer manufacturing and distribution software for Brew house, restaurant, tasting room and merchandise sales.

• Prepared financials and completed two years of audits
• Handle all bookkeeping and reconciliations of bank accounts and ledger accounts
• Expanding business model to include the creation of a certified kitchen, prepackaging of herbal meals and various ancient products for the treatment of high cholesterol, blood pressure and sugar conditions.

• Reviewed all operating procedures and systems related to accounting functions for orchard grower, harvester and producer of value added products being sold through thousands of stores in the country. 
• Evaluated staffing and system needs, documented key procedures, assisted with the year-end closing and audit, and transitioned key staff to assume critical functions.

Part of a team of mentors and technical assistants to help leadership teams of 15 cohorts in intensive off-site training and mentoring sessions for selected social impact enterprises throughout the State.  This includes investor pitch coaching, strategic development, corporate formation/structuring, governance, human resource and organizational development, capacity building in accounting infrastructure and various other mentoring roles.  Cohorts provide service to the community while building their sustainable economic model.

• Corrected financial statements which erroneously reported results for nine months into the year.
• Identified numerous internal control issues affecting the reporting of production costs, inventory values and standard costing.
• Identified pricing errors and opportunities which allowed us to increase margins by 300 basis points within three months.
• Reduced AR and inventory levels approximately $3M providing much needed cash.
• Implemented weekly dashboard reporting to timely track results.

• Completed implementation of Micro Edge software system for six offices throughout the US and abroad. The software was used to track over 100 projects per year for approximately 70 project management professionals.
• Researched all foreign and domestic tax laws and assisted in the establishment of offices in Thailand, Costa Rica and Korea.
• Reduced AR by over $2M to provide additional cash to the business.
• Obtained and negotiated a sale agreement with a publicly traded strategic investor.
• Revised monthly reporting package to track operating metrics, key balance sheet items, employee productivity, efficiency and utilization.

• Increased borrowing capacity by $10M.
• Decreased borrowing costs by 75 basis points.

• Accelerated the closing of financial statements for three companies (general contractor, solid surface fabricator and property management) which were over 9 months in arrears.
• Documented Controller’s daily activities and trained his replacement to assume all Controller responsibilities.
• Reconciled sub-ledgers (cash, AR, AP, WIP and payroll, suspense) of the Timberline software to the general ledger accounts. Worked directly with Timberline consultant to understand existing reports and develop custom reports to reconcile all accounts. Contractor utilized numerous contra accounts.
• Revised internal procedures to ensure efficient closing process and balancing of all accounts and subsidiary ledgers (with emphasis on the Job Costing module).
• Prepared all schedules for “review” by independent CPA firm for all three companies.
• Prepared financials for January and established routine procedures to simplify monthly closing process.

• Implemented fully integrated software system (Financial Edge) for tracking of over 530 component funds with asset values of over $265M. This conversion resulted in shortening the closing cycle from what was delayed as far back as nine months to now current (within 30 days). The new system allowed us to produce donor statements and fund budgets within minutes versus the 3 hours it previously took per statement. With over 150 statements required per quarter, this was a significant time savings.
• Identified asset base which had not been assessed fees and implemented a fee sweep policy which added over $500,000 of fee income to the foundation per year.
• Identified other fee and yield opportunities which would increase the net earnings by approximately $1,000,000 per year. This would be accomplished by aggregating funds and laddering investment options to earn higher yields then the current money market rates.
• Participated on team to replace investment manager for $42M Tobacco fund and selected managers who produced yields which were 520 basis points better then the benchmark. This contributed more then $2M in surplus earnings for the 12 months to date ended 7/31/05.
• Designed and implemented the accounting infrastructure for approximately $7M increase in Federal (DOL, DOH & DOJ) spending. This included the compliance with federal policies, preparation of flowcharts, procedures, budgets, sub-grantee tracking, cash advances, form FS-269, and reconciliations to the general ledger.
• Participated on team to design the specification for a custom website for sub-grantee reporting of qualified expenditures. Assisted in design of procedures for reviewing reimbursement requests and automatic reporting in the form FS-269.
• Directed the independent annual audit and A-133 federal audit and preparation of related schedules. The audit resulted in unqualified opinion and no material non-compliance exceptions were noted.
• Created customized budget variance reports for operating and component funds, prepared $4M annual operating budget for 13 cost centers, activity-based budgets for various components of revenue.

• Converted financial records from outside third party bookkeeping firm (who used Quick books) to internal accounting staff using American Contractor software. Conversion required coordination with outside firm in completing the recording of all transactions (which were routinely delayed 2 to3 months), reconciliation of accounts (which were not regularly reconciled), and transferring of ending balances. It also required establishment of new procedures, training of internal staff and establishment of internal controls.
• The new system included a revised chart of accounts which included the use of activity codes. The codes included the tracking of all expenses related to different phases of construction for over 20 different projects.
• The new system also included the integration of the payroll module and tracked payroll hours and expenses for unionized and administrative employees.
• Restructured reporting format to trended financials, created detailed budgets and cash flow projections.
• Worked closely with competing bankers to evaluate various lending packages. Restructured debt and converted from receivables based lending to three year term loan. Increased borrowing capacity by approximately $800,000.

• Completed implementation of software system for inventory tracking, purchase orders and general ledger. The new system was being implemented for over 8 months and accounts were not being reconciled. Cleared over $3M in input discrepancies and posted adjusting entries within 2 months. Identified changes to accounting procedures and reconciliations to properly record transactions on a going forward basis.
• Completed independent CPA “Review” using the financial statements produced from the new system.
• Restructured debt to include an additional $1M in term loan funds and reduced over $3M in collateral securing the existing debt.
• Restructured staff to replace Controller and other support staff in the accounting department.
• Assisted with expansion of business services to include owner/builder financing options for niche market. Worked with attorneys, lenders, senior management and staff to develop service offering. This included creation of supporting documentation, selection and implementation of software and finalizing legal and reporting compliance.
• Assisted with negotiation with DHHL on long term lease agreement for 16 acre property. Worked with consultants to evaluate highest and best use and proposal for lease to DHHL.
• Assisted with the establishment of a separate subsidiary for the purpose of importing and distributing building materials from China to retailers in Hawaii and the Mainland. Worked with attorney to develop LLC operating agreements and distributor agreements.

• Converted financial records from outside third party bookkeeping firm (who used tax preparer’s software) to internal accounting staff who had been using Quick Books Pro software for payroll and accounts payable. Conversion required coordination with outside firm in completing the recording of all transactions (which were recorded on a cash basis for tax purposes), reconciliation of accounts, and integration with un-reconciled balances already in Quick Books. It also required the establishment of new procedures, training of internal staff and establishment of internal controls.
• Converted financial statements from cash basis to accrual basis financial statements. Established various procedures to record other accrual entries and prepared trended financial statements showing gross profit by service line and net profitability.
• Prepared audit schedules for company’s first full independent CPA audit and A-133 audit. Completed the unqualified audit using the new system records and with no material audit adjustments.
• Evaluated economics of owning a care home owned and operated by the client. The home was to provide short and long term care services for patients but the final decision was to not pursue this new service offering.

• Completed the conversion from Peachtree to MAS90 software, reconciled all balances and prepared financial schedules for independent CPA “Review” of financial statements and related footnotes.
• Prepared trended accrual based financial statements and prepared company for outside investment or acquisition. Assisted in preparation of investor package (term sheet, subscription agreement, registration agreements), met with venture capitalists from Hawaii, New York, and Japan, private investors and strategic investors.
• With significant loss of customers and revenue, implemented a strict cash management practice. Negotiated the forgiveness of over $1M in liabilities, restructured over $1M in debt and increased cash by over $1M.
• Developed a restructuring plan which entailed elimination of over 50% of staff, consolidation of departments, increase in billable hours and introduction of new service offerings.

t 808.292.3410

f 808.261.2419

dlaeha@cfohawaii.com

1164 Bishop Street

Suite 124 #323

Honolulu, HI 96813