Ironwood Advisory provides transition management services to both distressed and healthy companies. They have over 500 years of combined experience in senior leadership roles. Their services include turnaround and crisis management, strategic planning, operations and financial restructuring, and interim management. They help companies address underperformance, financial difficulties, and other issues to preserve options and create positive outcomes during times of transition and change.

1. www. ironwood advisory .com TRANSITION MANAGEMENT Change is the only constant

2. Who & How We Serve DISTRESSED COMPANIES Turnaround, Restructuring & Crisis Management Debt or Equity Financing, Sales & Acquisitions Corporate Finance HEALTHY COMPANIES Interim-Supplemental, Early or Later Stage & Growth Management

3. Our World Law Firms Referral Network CPA Firms Business Owners Buyers / Sellers Investor s Private Equity Venture Capital Lenders Asset Based Lenders Factors Banks Principals Management Boards of Directors Corporate Bankruptcy Auditors Tax Specialists

4. How We’re Qualified EXPERIENCE : Multiple Companies 500 Years of Experience CEOs, COOs, CFOs Been There, Done That 25 Senior Business & Functional Experts IN : Restructurings, Turnarounds & Successes Growth Management: start-ups & start-overs, Sales Increase & Market Expansion FOR : Extensive Variety of Industries Fortune 1000 Companies Small Companies

5. Industry Experience Finance Institutional Investing Mortgage Lending Equity, Options & Futures Markets Commodities Markets Power Gen & Marketing Electronic Trading Insurance Health Care HMO Medical Devices Health Care Disposables Contracting Municipal Governments Defense Technology Software Internet Commerce Telecom Distribution Automotive Aviation Hardware Import-Export Retail & Consumer Products Media & Entertainment Films Internet Audio-Video Repro Manufacturing Aerospace Apparel Computer Peripherals Contract Manufacturing Furniture Metal Fabricating and Assembly Concrete and Construction Diamond Tooling Electronics Manufacture Plastics Telecom Food Processing Custom Manufacturing Real Estate Development Construction

6. Options Often Narrow… Flat Lining or Underperforming ~ Many Options Early Crisis Fewer Options Late Crisis (Bankruptcy) Liquidation Flat-Lining or Underperforming Customers Defect to Competitors Cash Running Short Concrete Actions & Results Controlled Transition Early Intervention  Options   Time  Symptoms: Actions:

7. Flat Lining/Underperforming Flat Lining or Underperforming ~ Many Options  Options   Time  Market Share Diminishing Complaints Increasing A/R A/P Slowing Financial Ratios Deteriorating Listen to Customers Revamp Strategic and Operating Plans Cut Variable Costs + Fixed Overhead Modify Reporting and Accounting Systems Confront Situation Symptoms: Actions: Reduce Cycle Time

8. The Fate of the Flat-Liner Stuck in Neutral - Eventually Will Die No forward motion Starving in the doldrums Management incapable of acting creatively Imperative: Recognize Fact & Act The company needs help! (But the issues may be hidden)

9. What We Do – Specifically Confront Situation Listen to Customers Revamp Strategic & Operating Plans Modify Reporting & Accounting Systems Cut Variable and Fixed Overhead Reduce Cycle Time

10. Early Crisis – Fewer Options Early Crisis Fewer Options Notable Revenue and Earnings Decline Ratios Off & Bank Covenant Violations Quality Problems and Returns Credit Line Maxed Out Assert Control Create a Plan Restructure Debt Change Management Sell Fixed Assets Sell Company  Options   Time  Significant Liquidity Problems Acute Production Problems Symptoms: Actions:

11. What We Do - Specifically Advise or Take Control (Ironwood: Advisors or Executives) Review Operations & Restructure Refinance and/or Liquefy Assets Long term or short term Deal with Banks Monitor Mgmt ~ Recommendations Review Sale of Assets or Company Conduct sale of Assets/Company

12. Late Crisis (Bankruptcy) Late Crisis (Bankruptcy) No Cash/Loans in Default All Financial Ratios Negative Customers Defecting to Competitors No Raw Materials Employees Rushing for Door Lawyers Taking Over Chapter 11: Some Flexibility Rehab Business with New Financing Reorganize without Court Protection Sell Company  Options   Time  Symptoms: Actions:

13. What We Do - Specifically Often Take Control (C-Level Position) New or DIP Financing (if still possible) Out-of-Court Restructuring In-Court Restructuring Renegotiations of Leases, Contracts Creditors Committees Chapter 11: Pre-Pack / Filing

14. Liquidation & Wind Down Liquidation  Options   Time 

15. What We Do - Specifically Provide “Soft Landing” Orderly Liquidation Wind-Down of all Operations Assets Liabilities Employees Taxes & Filings Disbursements & Much More

16. Actions to Conserve Options Flat Lining or Underperforming ~ Many Options Early Crisis Fewer Options Late Crisis (Bankruptcy) Liquidation Flat-Lining or Underperforming Customers Defect to Competitors Cash Running Short Concrete Actions & Results Controlled Transition Early Intervention  Options   Time  Symptoms: Actions:

17. How Change Happens The People & Process : Business Transition & Renewal Specialists : ‘ Been there done that ’! Track record Broad range of experiences Individual & Team Approaches Provide the Means : Roadmap to Meet the Objectives Missing Pieces to Fill the Holes Breakthroughs to Get Past Logjams Implementation to Get Results

18. What Capabilities ~ In Sum General Management Strategic Planning (inc: Model Building & Testing) Leadership Coaching and Assistance Finance / Accounting Restructuring Debt & Equity Analysis & Restructuring of Financial Systems Marketing & Sales Research through to a Plan Sales Management Operations Management Information Technology Systems Analysis Services to Business Sellers, Business Buyers Acquisitions Divestitures

19. Transition Management DISTRESSED COMPANIES Turnaround, Restructuring & Crisis Management Debt or Equity Financing, Sales & Acquisitions Corporate Finance HEALTHY COMPANIES Interim-Supplemental Early or Late Stage & Growth Management

20. www.ironwoodadvisory.com Help at the Helm with 500 Years of Experience

21. www. ironwood advisory .com MANAGEMENT FOR TRANSITIONS Los Angeles, Orange County, San Francisco, Chicago, Boston, New York, Honolulu, Durango Moving forward ~ with all deliberate speed!