Vice Chairman of this startup - beginning with one plastics injection machine, one patent, one CMOS chip and a handful of people. Helped grow, diversify and finance it over 9 years from zero sales to float on the USM (AIM precursor) at £12m market cap, followed by a full London quote.
Company grew at 40% p.a. (compound) for many years, putting a premium on responsive product positioning, flexible financing and management training. Directed these key areas and large project sales, all acquisitions, divestitures, and funding both pre and post float.
Helped to found and grow this neural computing startup business; including recruitment of key R&D head, raising initial and ongoing funds, sale of projects, and generation of new applications and sales leads. Provided non executive director position for 8 years.
Closely involved in successful sale of founders' stakes to US VC group.
Technical: Planned physical move of several real-time financial trading websites; Defined architecture, communications and security aspects for new operations centre and new Business Continuity DR site.
Turnround: Business was losing £30k a month. Helped construct viable business plan and to fundraise for key rights issues. Business made over £160k profit in the subsequent year and is now achieving £200k+. Non executive director for last 9 years.
Evaluated Software AG for N.M.Rothschild, 3G aerial projects for an Icelandic investor group, N Sea Ferry data transmission project, several IT acquisition targets for Alphameric plc and several investment targets for an overseas investor group.
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Assisted founders of start up internet retailer with initial and subsequent fundraising. £350,000 was raised from 3i plc with subsequent equity rounds raising a total of £4.2m, plus bank loans, leasing and overdraft facilities.
Having secured funds, developed sound accounting systems, procedures and detailed business planning commensurate with the rapid growth of the business, acting as Non-Executive Finance Director for 4 years. The business was sold to a competitor which has recently floated on AIM.
Performed due diligence on behalf of investors in a poorly-performing software development house. Following initial investment, assisted in further fundraising totalling £2.25m from angels, bank and leasing facilities.
Acting as Non Executive Finance Director, introduced detailed financial systems for cash management, management information and business planning, playing a key role in restoring the business to profitable growth, and a planned exit route. In addition, secured significant R&D tax credits and introduced an EMI share option scheme.
Having assisted in raising initial equity investment, acted as Non Executive Finance Director, securing £300k of bank, leasing and factoring facilities and providing the Board with advice and financial consultancy assistance.
Subsequently provided due diligence services in connection with two substantial successful acquisitions. The company floated on AIM in July 2000 and now has a market capitalisation of £10.4m.
Assisted founder/CEO with development and implementation of turnaround strategy, raising additional funds from banks, trade financiers and business angels.
Having incurred losses of £236,000 in 2004, the Company is now trading profitably and is on track to achieve a £250k profit in 2007.
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