DAV I D N . E LI FF, C P A C F F C G M A
262 Bryn Mawr Circle Phone: 713.430.6895
Houston, TX 77024 Email: DAVID.ELIFF@OUTLOOK.COM
CHIE F FINANC IAL OFFIC E R/VP OF FINANC E
Results-focused executive with more than 30 years of experience leading accounting, administrative, financial,
acquisition, consolidation, risk management, and operations for small to medium size companies with $50 million
to $625 million in revenues.
Oil-field service (W-H Energy Services NYSE:WHQ, pipelines (Tennessee Gas Pipeline), Liquefied Natural Gas
(Southern and Gulf LNG) and manufacturing segment CFO (Proserv has 623 employees with 562 billable
technicians), I have positioned myself as a partner with the CEO in producing and delivering primary financial
metrics in KMA (key measurement areas) and KPI’s (key performance indicators) drivers of corporate strategy, to
work as a strategist rather than a tactician to ensure the financial health and sustainability of the organizations
and, most importantly, to ensure that shareholder expectations are met. Recognized for consistently delivering
first-class, real-time accounting data, HR, IT, Payroll and weekly reporting on key metrics which provide the CEO
and senior management the tools to sustain business high end performance results for corporations across oilfield
service, LNG, HVAC, water & air purification, and technology service solutions.
Attained industry-recognized results as a key advisor to the CEO, member of the senior executive team and a chief
financial officer in the global natural resource industry. Accomplished and sophisticated, innovative corporate
restructuring and turnaround of multi-division organizations. Recognized for sound fiscal and operational
management, strategic partnerships and acquisitions resulting in enhanced profitability, reduced costs and
optimized shareholder value. Practical experience with public reporting, investor relations, strategic negotiations
and international business. Strong team-building, leadership, motivation and communication skills coupled with
insights into emerging opportunities, trends, issues and challenges in the global economy.
AREAS OF EXPERTISE
 Daily Treasury & Cash Management
 Daily Financial Planning & Analysis
 Tax & Multi-National Accounting
 PrivateCapital/Debt Markets &
Financing (Large Banks, Sub Debt)
 Strategic Acquisition & Mergers
 Real time Financial Reporting
 PrivateEquity Capital Raise
 Operations Management via KPIs
 Legal/Administration monitoring
 Contract Negotiations (T&C, MSA)
 Internal Auditing (Internal Controls)
 Systems Development ERP,Acct,DB
 Investor Relations (Public,Private)
 Recapitalization(Leveraged, Restart)
 Debt & Equity Negotiation
 ERP
Planning/Implementation
 HR Management
 Team-Development;
(Accounting,HR, IT, Supply)
 ProjectManagement (POC
Accounting)
 Corporate Restructuring
 IT Management
KEY SKILLS ASSESSMENT
ACQUISITIONS MANAGER – Lead the development and execution of strategic acquisition plans that yield
monumental results during short periods of time.
DAVID N. ELIFF, CPA CFF CGMA Resume, Page 2
COMPETITIVE INTELLIGENCE – Exercise industry expertise to develop business strategies based on thorough
evaluation of competitors, including assessment of management teams, business plans, strengths and weaknesses.
SOLUTIONS-DRIVEN – Creative and strategic leader with a talent for influencing board of directors and executive
teams to adopt innovative solutions that increase cash flow and drive shareholder value.
VISIONARY CFO - Team up with Board and Senior Management to define and implement organizational strategies,
identify new opportunities, maximize revenue with existing customers, and implement lean principles.
TEAM BUILDER - Passionate about human resources with a belief in people as a company's greatest asset, and
talented at transforming low-performing teams into best-in-class departments by promoting collaborative
environments.
PROFESSIONAL EXPERIENCE
PRIVATE/CONFIDENTIAL OILFIELD SERVICE COMPANY/PRIVATE CALL-CENTER SOFTWARE, HOUSTON, TX
MORAE LEGAL, HOUSTON, TEXAS
ETHOSIQ, HOUSTON, TEXAS
TEXAS TAXI, INC. HOUSTON, TEXAS
KNOMATICS, INC. HOUSTON, TEXAS
DEMAND FRONTIER, HOUSTON, TEXAS AND COLOMBIA
March 2015-Present
INTERIM/CONTRACT CFO
Responsibilities
As an executive leader and change agent, as the Interim CFO, I have enjoyed shaping the strategic financial
direction and bring alignment across organizations. I curtail financial losses and improve profits by identifying
and improving financial performance issues. With global experience in outsourcing to Asia, Significant Private
Equity experience, managed system conversions, streamlined organizations and executed new processes in
downturns and periods of high growth to improve strategic planning and information gathering and establish
quality improvement processes.
AccomplishmentsandLeadershipInitiatives asInterimCFO
- Saved 15%; centralized accounting operation from 3 officesto 1
- Improved 2015 Budgeted EBITDAby 26% through analytical review of Gross Margin/SG&A
- Set-up GAAP reporting where only regulatory reporting existed previously
- Obtained $13MM costimprovement including Tax Efficiencies(GM/SG&A)/(2015 Revised Budget); evaluated
and eliminated non-essential processes and improved staff utilization
- Coordinated and developed accounting & financial reporting system where none previously existed. -
Preparation of 2X revenue growth in 2 -3 years adopted and completed bottoms-up 3 year plan by senior and
mid management
- Developed strategic and cash / sales reporting and budgeting process focusedon key business issues and
development of finance department to a strategic business partner
- Expect liquidity event in 3 year; equity component provided and thoroughly explained to top 15 personnel.
SkillsUsed
Financial Reporting. Private Equity • Operations • Budgeting • Treasury • Mergers, Acquisitions and Divestitures
• Risk Management • Internal & External Audits/GAAP • ERP Systems (Dynamics AX12) • Policy & Procedure
Systematization (FERC,DOE and GAAP) • Reporting Processes • Strategic Planning & Execution • Roadshow
Experience • Financial Contacts
DAVID N. ELIFF, CPA CFF CGMA Resume, Page 3
PROSERV – TOTAL INSTRUMENTATION & CONTROLS, HOUSTON, TX 2011 – March 2015
CFO AND VICE PRESIDENT OF FINANCE & ADMINISTRATION
Seamlessly integrated and direct all business operations including finance, accounting, IT, tax, treasury, payroll,
HR, benefits, 401(k) plan, billing, and office management functions into new businesses post-acquisition. Partnered
with executives to develop and implement business plans and strategies to achieve growth.
 Steered system development and process control for financial operations including policies, budgets, sales, and
profit planning, costs, capital investments, and financing
 Ensure thorough contract reviews and due diligence on acquisition targets
 Instrumental in doubling TIC's revenue and tripling earnings
 Launched streamlined accounting, IT, and HR, and FERC policies and procedures as well as internal controls
 Key in achieving 78% growth in revenues and 149% growth in EBITDA from 2011 to 2012
 Increased the company’s EBITDA margin by 600 basis points
 Maintain detailed project accounting including budget to actual statements by project. Appropriately
record revenue based on percentage of completion or completed contract as appropriate.
ACCUMYN, LCC, HOUSTON, TX 2008 – 2011
MANAGING DIRECTOR
Operated as the head CFO, CRO, and financial advisor charged with leading corporate turnaround and
restructuring initiatives as well as bankruptcy proceedings and out-of-court agreements.
 Applied expertise in liquidity monitoring, turnaround, and refinancing to advise major lenders, bondholders,
trade creditors, and shareholders on how to maximize company recovery value
 Advised companies of business acquisitions, exit strategies, factory closures, business planning, crisis
stabilization, cash flow management, operational and financial restructuring, and re-financings
 Facilitated creditor support as well as financial and operational restructuring by developing tactful plans
 Achieved 112% return to private equity group in one year by increasing private equity capital
Select Example Contract CFO:
Led the financial and acquisition efforts of a public to private turnaround company, improved its financial condition and positioned it
for sale, which was the critical objective of this interim CFO/CRO position. Responsible for the treasury, public reporting,
acquisitions and investor relations activities of the organization.
 Directed the accounting and administration staff.
 Achieved significant cost savings by driving all financing, investor relations, treasury and acquisition
efforts and eliminating redundant positions.
 Attained the critical mass needed to effect the revitalization strategy by acquiring one public and one
private company.
 Completed a multi-million dollar equity financing.
 Placed an under-performing subsidiary into Chapter 11.
Select Valuation Fairness Opinion:
Challenge:
The major shareholder of a company was going to be funding a proposed credit facility. The board of directors
needed to know whether the transaction wouldbe fair, froma financial perspective, to the holders of existing
senior notes on the company.
Solution:
We were engaged to provide an opinion as to the fairness of the transaction. Our analysis included an assessment
of the negotiation process, identification of comparable publicly traded debt facilities, a comparison of proposed
debt terms with public, private, and existing debt facilities. We also determined the appropriate credit rating and
evaluated market reaction to the proposed transaction. We concludedthat the proposed transaction was fair,from
DAVID N. ELIFF, CPA CFF CGMA Resume, Page 4
a financial perspective, to the holders of existing senior notes on the company.We also concluded that the terms of
the proposed transaction were no less favorablethan would have been obtained in the public market.
TRIPOINT CAPITAL PARTNERS, HOUSTON, TX 2003 – 2008
MANAGING DIRECTOR
Served as the CFO for multiple consolidation companies pursuing "rollups" or “bolt-ons.”
 Supported private equity firms in the funding of acquisitions within growth industries
 Ensured establishment of a sound management team and a concrete plan for future growth
 Expanded operations by internal or acquisition means with multiple exit strategies
 Steered consolidation companies that produced returns of 46 to 184%
 Examples of successful investments include Dupure International and PerfectStop, Inc.
CROSSROADS, LLC, HOUSTON, TX 2001 – 2003
MANAGING DIRECTOR, CFO SERVICES & CORPORATE RESTRUCTURING
Chief Restructuring Officer and Financial Advisor charged with representing multiple large and medium-sized
companies and senior debt groups, including major banks or syndicates, on corporate restructurings.
 Clients included: Enron (LJM2 partnership), Seitel, U.S. Liquids, Blackstone Group, Forssmann Little and major
banks including Citibank, Wells Fargo, Bank of America, DLJ and J.P. Morgan Chase & Company
 Consolidated employee benefits and commercial insurance carriers from 12 legacy companies into one
platform
 Overhauled financial reporting process including financial model, management, Board reporting, and KPIs
CAREER NOTES:
SAGENT TECHNOLOGY, LLC, MOUNTAINVIEW, CA, EXECUTIVE VICE PRESIDENT AND CFO (NASDAQ:SGNT) 2000-2001
W-H ENERGY SERVICES, INC., HOUSTON, TX, EXECUTIVE VICE PRESIDENT AND CFO (NYSE: WHQ) 1995-2000
PRICEWATERHOUSE, HOUSTON, TX, SENIOR MANAGER CORPORATE RESTRUCTURING & BUSINESS TURNAROUND1989-1995
ARTHUR ANDERSEN, HOUSTON, TX, SENIOR MANAGER – FINANCIAL ADVISORY SERVICES 1984-1989
EDUCATION & TRAINING, PROFESSIONAL AFFILIATIONS AND SOFTWARE EXPERTISE
Bachelor of Business Administration, Accounting, Texas Tech University, Lubbock, TX
Dale Carnegie – Leadership Training
Certified Public Accountant (40 hours per year Continuing Professional Education focus on Enterprise Performance, KPI
Measurement, Corporate Taxation and Leadership)
Certified in Financial Forensics, AICPA
Chartered Global Management Accountant, AICPA
AICPA & TSCPA Member
Financial Executive Institute Member
MS Navision | MS Dynamics GP | MS Dynamic AX09/AX12 | Oracle JD Edwards World Time Accounting | Oracle Hyperion| JD
Edwards EnterpriseOne Advanced Cost Accounting | Oracle Hyperion Financial Management | Peachtree/Sage 50 |
QuickBooks | SAP ERP Core Finance Software | Microsoft Office 2013 (Advanced Excel/PowerPoint/Access)
CFO EXPERTISE
EXECUTIVE EXPERIENCEAS CFO:
David Eliff has accumulated more than 31 years in corporate financial management:
 Responsible forover 25+ Annual consolidated financial statements audited without any outside auditor
Adjusting Journal Entries.
 Having a budgeting and strategic process impeccably integrated to the information systems.
 Preparing monthly executivereports limited to 10 pages that speak loud and clear, with insights.
 Managing international treasury (financing and hedging) programs, over and through financial crises.
 Meticulous planning of M&A activities, with emphasis on integrating and capturing synergies.
DAVID N. ELIFF, CPA CFF CGMA Resume, Page 5
 Executing several corporate programs on Operational Excellence.
MULTINATIONALEXPERIENCE
From April 2011 to December 2012 was part of twopart management team that oversaw the doubling of
Revenues and Quadrupling of EBITDA. TIC LLC sold in December at 6.2 times EBITDA.
 Raised the necessary capital to take NASDAQ listed Particle Drilling private through a Pre-packaged
insolvency(a"pre-pack")is a kind of bankruptcy procedure, where the restructure plan was agreed in
advance of a company declaring its insolvency
 CrossRoads LLC: Contract CFO. Managed multiple financial crises (NYSE:Seitel, NYSE: US Liquids to name
a few.
 Dupure International, Perfectstop,Cornerstone Valve- CFO: Restructuring forgrowth
 W-H Energy Services (NYSE listed – CFO: Turnaround and best merger operation acknowledged within
the large private equity participants.
 AA&Co/PwC – Contract CFO, CRO or Senior Financial Advisor: Divestiture, Merger, Restructuring for
growth, strategy for many companies forlocal economic crisis, M&A activities
FINANCE FOR SME:
Worked in a variety of industrial and technology sectors, from start-ups to mid-size companies.
 Fund raising forprivate technology companies
 Restructuring of financedepartments for higher productivity
 M&A activities for SMEs
CFO PROCESS EXPERTISE
Strategy, PlanningandManagement
 A solid Chief Financial Officerand strategic business partner to CEO and senior executive leadership team.
 Assess and evaluate financial performance of organization with regard to long term operational goals,
budgets and forecasts.
 Provideinsight and recommendations to both short term and long term growth plan of organization.
 Identify,acquire and implement systems and software to provide criticalfinancial and operational
information (Key PerformanceIndicators) on a real-time basis.
 Evaluate departments and make suggestion for automating processes and increasing workingefficiency.
 Communicate, engage and interact with Board of Directors, CEO,COO and ExecutiveLeadership Team.
 Create and establish yearly financial objectives that align with the company’s plan for growth and
expansion.
 Select and engage consultants, auditors and investors.
 Recruit, interview and hire finance, accounting and payroll staff as required.
 Serve as a key member of executive leadership team and round table discussion panel.
 Participate in pivotal decisions as they relate to strategic initiatives and operational models.
 Interact with and bring department into line withBoard of Directors plans initiatives and
recommendations.
 Implement policies, procedures and processes as deemed appropriate by senior leadership team.
 Financial Analysis, Budgeting and Forecasting
 Prepare and present monthly financial budgeting reports; monthly profit and loss by division, forecast vs.
budget by division and weekly cash flow by division.
 Review and analyze monthly financial results and provide recommendations.
 Identify,develop and execute analysis of business initiatives, product launches and/or new service
offerings.
 Develop and maintain monthly operating budget and annual company operating budget.
 Manage financial planning and analysis department. Supervise creation of reports, software
implementation and tools for budgeting and forecasting.
DAVID N. ELIFF, CPA CFF CGMA Resume, Page 6
 Participate in weekly conference calls with Lenders, Vendors and ExecutiveLeadership Team.
 Accounting, General Ledger, Administration and Operations
 Supervise the accounting department to ensure the proper functioning of all systems, databases and
financial software. Provideregular maintenance and backup of all accountingsystems; supervise company
financial staff.
 Review and ensure application of appropriate internal controls,SOX compliance and financial procedures.
 Ensure timeliness and accuracy of financial and management reporting data for federal funders,
foundations, investors and company’s board of directors.
 Oversee the preparation and communication of weekly,monthly and annual financial statements.
 Oversee the preparation and timely filing of all local,state and federal tax returns.
 Ensure SOX compliance regarding all financial functions.
 Workwith Human Resources to ensure appropriate legal compliance.
 Oversee the month end close process, constantly reviewing procedures while eliminating inefficiencies.
 Oversee preparation of monthly, quarterly and annual financialstatements.
 Review all month-end closing activities including general ledger accounts,balance sheet accountsand
overhead cost allocation.
 Enhance and implement financial and accounting systems, processes, tools and control systems
 Hire, develop and manage accounting directors, managers and staff
 Serve as a key point of contactfor external auditors; Manage preparation and support of all external audits.
 Coordinate and strategize methods used to attain team goals withChief AccountingOfficerand Regional
Controllers.
Financial Management
 Manage cash flow planning process and ensure funds availability.
 Oversee cash, investments and asset management area.
 Explore new investment opportunities and provide recommendations on potential returns and risks.
 Maintain outstanding banking relationships and strategic alliances with vendors and business partners.
 Utilize forward-lookingmodels and activity-based analyses to provide financial insight into the
organization’s plans and operating budgets.
Financial RelationsandPolicies
 Engage finance committee and/or board of directors to develop short term and long term plans,
projections and budgets.
 Represent company to banks, financial partners, institutions, investors, public auditors and officials.
 Remain current on audit best practices; and state, federal and locallaw regarding company operations.
Financeand AccountingTeamManagement
 Mentor and develop a team of as many as 10 direct reports, managing work allocation,systems training,
performance evaluations, and the building of an effectiveand efficientteam dynamic.
 Guide larger, cross-divisional teams outside of direct span of controlwithin main company divisions.
CashManagement
 Oversee weekly cash management.
 Oversee AP Department, approve large payables, sign checks, and authorize large wires and ACHs.
 Supervise Accounts Receivable management and provide guidance relating to the collection process.
Other
 Outstanding Knowledge and Understanding of GAAP, IFRS, SOX compliance and SEC Reporting.
 Background coordinating with I.T. staff to manage and/or upgrade accounting system. Systems
implementation.
DAVID N. ELIFF, CPA CFF CGMA Resume, Page 7
 "Hands On" ERP Systems Experience – MicrosoftDynamics AX12, Great Plains, Navision, Oracle, SAP, JD
Edwards or PeopleSoft.
 Outstanding presentation skill.
 Demonstrated leadership ability, confidenceand executive presence - ability to motivatestaff.
 Excellent analytical, reasoning and problem solving skills.
 Significant experience workingwith external auditors, internal controls and compliance related issues.

Eliff 5.2016

  • 1.
    DAV I DN . E LI FF, C P A C F F C G M A 262 Bryn Mawr Circle Phone: 713.430.6895 Houston, TX 77024 Email: DAVID.ELIFF@OUTLOOK.COM CHIE F FINANC IAL OFFIC E R/VP OF FINANC E Results-focused executive with more than 30 years of experience leading accounting, administrative, financial, acquisition, consolidation, risk management, and operations for small to medium size companies with $50 million to $625 million in revenues. Oil-field service (W-H Energy Services NYSE:WHQ, pipelines (Tennessee Gas Pipeline), Liquefied Natural Gas (Southern and Gulf LNG) and manufacturing segment CFO (Proserv has 623 employees with 562 billable technicians), I have positioned myself as a partner with the CEO in producing and delivering primary financial metrics in KMA (key measurement areas) and KPI’s (key performance indicators) drivers of corporate strategy, to work as a strategist rather than a tactician to ensure the financial health and sustainability of the organizations and, most importantly, to ensure that shareholder expectations are met. Recognized for consistently delivering first-class, real-time accounting data, HR, IT, Payroll and weekly reporting on key metrics which provide the CEO and senior management the tools to sustain business high end performance results for corporations across oilfield service, LNG, HVAC, water & air purification, and technology service solutions. Attained industry-recognized results as a key advisor to the CEO, member of the senior executive team and a chief financial officer in the global natural resource industry. Accomplished and sophisticated, innovative corporate restructuring and turnaround of multi-division organizations. Recognized for sound fiscal and operational management, strategic partnerships and acquisitions resulting in enhanced profitability, reduced costs and optimized shareholder value. Practical experience with public reporting, investor relations, strategic negotiations and international business. Strong team-building, leadership, motivation and communication skills coupled with insights into emerging opportunities, trends, issues and challenges in the global economy. AREAS OF EXPERTISE  Daily Treasury & Cash Management  Daily Financial Planning & Analysis  Tax & Multi-National Accounting  PrivateCapital/Debt Markets & Financing (Large Banks, Sub Debt)  Strategic Acquisition & Mergers  Real time Financial Reporting  PrivateEquity Capital Raise  Operations Management via KPIs  Legal/Administration monitoring  Contract Negotiations (T&C, MSA)  Internal Auditing (Internal Controls)  Systems Development ERP,Acct,DB  Investor Relations (Public,Private)  Recapitalization(Leveraged, Restart)  Debt & Equity Negotiation  ERP Planning/Implementation  HR Management  Team-Development; (Accounting,HR, IT, Supply)  ProjectManagement (POC Accounting)  Corporate Restructuring  IT Management KEY SKILLS ASSESSMENT ACQUISITIONS MANAGER – Lead the development and execution of strategic acquisition plans that yield monumental results during short periods of time.
  • 2.
    DAVID N. ELIFF,CPA CFF CGMA Resume, Page 2 COMPETITIVE INTELLIGENCE – Exercise industry expertise to develop business strategies based on thorough evaluation of competitors, including assessment of management teams, business plans, strengths and weaknesses. SOLUTIONS-DRIVEN – Creative and strategic leader with a talent for influencing board of directors and executive teams to adopt innovative solutions that increase cash flow and drive shareholder value. VISIONARY CFO - Team up with Board and Senior Management to define and implement organizational strategies, identify new opportunities, maximize revenue with existing customers, and implement lean principles. TEAM BUILDER - Passionate about human resources with a belief in people as a company's greatest asset, and talented at transforming low-performing teams into best-in-class departments by promoting collaborative environments. PROFESSIONAL EXPERIENCE PRIVATE/CONFIDENTIAL OILFIELD SERVICE COMPANY/PRIVATE CALL-CENTER SOFTWARE, HOUSTON, TX MORAE LEGAL, HOUSTON, TEXAS ETHOSIQ, HOUSTON, TEXAS TEXAS TAXI, INC. HOUSTON, TEXAS KNOMATICS, INC. HOUSTON, TEXAS DEMAND FRONTIER, HOUSTON, TEXAS AND COLOMBIA March 2015-Present INTERIM/CONTRACT CFO Responsibilities As an executive leader and change agent, as the Interim CFO, I have enjoyed shaping the strategic financial direction and bring alignment across organizations. I curtail financial losses and improve profits by identifying and improving financial performance issues. With global experience in outsourcing to Asia, Significant Private Equity experience, managed system conversions, streamlined organizations and executed new processes in downturns and periods of high growth to improve strategic planning and information gathering and establish quality improvement processes. AccomplishmentsandLeadershipInitiatives asInterimCFO - Saved 15%; centralized accounting operation from 3 officesto 1 - Improved 2015 Budgeted EBITDAby 26% through analytical review of Gross Margin/SG&A - Set-up GAAP reporting where only regulatory reporting existed previously - Obtained $13MM costimprovement including Tax Efficiencies(GM/SG&A)/(2015 Revised Budget); evaluated and eliminated non-essential processes and improved staff utilization - Coordinated and developed accounting & financial reporting system where none previously existed. - Preparation of 2X revenue growth in 2 -3 years adopted and completed bottoms-up 3 year plan by senior and mid management - Developed strategic and cash / sales reporting and budgeting process focusedon key business issues and development of finance department to a strategic business partner - Expect liquidity event in 3 year; equity component provided and thoroughly explained to top 15 personnel. SkillsUsed Financial Reporting. Private Equity • Operations • Budgeting • Treasury • Mergers, Acquisitions and Divestitures • Risk Management • Internal & External Audits/GAAP • ERP Systems (Dynamics AX12) • Policy & Procedure Systematization (FERC,DOE and GAAP) • Reporting Processes • Strategic Planning & Execution • Roadshow Experience • Financial Contacts
  • 3.
    DAVID N. ELIFF,CPA CFF CGMA Resume, Page 3 PROSERV – TOTAL INSTRUMENTATION & CONTROLS, HOUSTON, TX 2011 – March 2015 CFO AND VICE PRESIDENT OF FINANCE & ADMINISTRATION Seamlessly integrated and direct all business operations including finance, accounting, IT, tax, treasury, payroll, HR, benefits, 401(k) plan, billing, and office management functions into new businesses post-acquisition. Partnered with executives to develop and implement business plans and strategies to achieve growth.  Steered system development and process control for financial operations including policies, budgets, sales, and profit planning, costs, capital investments, and financing  Ensure thorough contract reviews and due diligence on acquisition targets  Instrumental in doubling TIC's revenue and tripling earnings  Launched streamlined accounting, IT, and HR, and FERC policies and procedures as well as internal controls  Key in achieving 78% growth in revenues and 149% growth in EBITDA from 2011 to 2012  Increased the company’s EBITDA margin by 600 basis points  Maintain detailed project accounting including budget to actual statements by project. Appropriately record revenue based on percentage of completion or completed contract as appropriate. ACCUMYN, LCC, HOUSTON, TX 2008 – 2011 MANAGING DIRECTOR Operated as the head CFO, CRO, and financial advisor charged with leading corporate turnaround and restructuring initiatives as well as bankruptcy proceedings and out-of-court agreements.  Applied expertise in liquidity monitoring, turnaround, and refinancing to advise major lenders, bondholders, trade creditors, and shareholders on how to maximize company recovery value  Advised companies of business acquisitions, exit strategies, factory closures, business planning, crisis stabilization, cash flow management, operational and financial restructuring, and re-financings  Facilitated creditor support as well as financial and operational restructuring by developing tactful plans  Achieved 112% return to private equity group in one year by increasing private equity capital Select Example Contract CFO: Led the financial and acquisition efforts of a public to private turnaround company, improved its financial condition and positioned it for sale, which was the critical objective of this interim CFO/CRO position. Responsible for the treasury, public reporting, acquisitions and investor relations activities of the organization.  Directed the accounting and administration staff.  Achieved significant cost savings by driving all financing, investor relations, treasury and acquisition efforts and eliminating redundant positions.  Attained the critical mass needed to effect the revitalization strategy by acquiring one public and one private company.  Completed a multi-million dollar equity financing.  Placed an under-performing subsidiary into Chapter 11. Select Valuation Fairness Opinion: Challenge: The major shareholder of a company was going to be funding a proposed credit facility. The board of directors needed to know whether the transaction wouldbe fair, froma financial perspective, to the holders of existing senior notes on the company. Solution: We were engaged to provide an opinion as to the fairness of the transaction. Our analysis included an assessment of the negotiation process, identification of comparable publicly traded debt facilities, a comparison of proposed debt terms with public, private, and existing debt facilities. We also determined the appropriate credit rating and evaluated market reaction to the proposed transaction. We concludedthat the proposed transaction was fair,from
  • 4.
    DAVID N. ELIFF,CPA CFF CGMA Resume, Page 4 a financial perspective, to the holders of existing senior notes on the company.We also concluded that the terms of the proposed transaction were no less favorablethan would have been obtained in the public market. TRIPOINT CAPITAL PARTNERS, HOUSTON, TX 2003 – 2008 MANAGING DIRECTOR Served as the CFO for multiple consolidation companies pursuing "rollups" or “bolt-ons.”  Supported private equity firms in the funding of acquisitions within growth industries  Ensured establishment of a sound management team and a concrete plan for future growth  Expanded operations by internal or acquisition means with multiple exit strategies  Steered consolidation companies that produced returns of 46 to 184%  Examples of successful investments include Dupure International and PerfectStop, Inc. CROSSROADS, LLC, HOUSTON, TX 2001 – 2003 MANAGING DIRECTOR, CFO SERVICES & CORPORATE RESTRUCTURING Chief Restructuring Officer and Financial Advisor charged with representing multiple large and medium-sized companies and senior debt groups, including major banks or syndicates, on corporate restructurings.  Clients included: Enron (LJM2 partnership), Seitel, U.S. Liquids, Blackstone Group, Forssmann Little and major banks including Citibank, Wells Fargo, Bank of America, DLJ and J.P. Morgan Chase & Company  Consolidated employee benefits and commercial insurance carriers from 12 legacy companies into one platform  Overhauled financial reporting process including financial model, management, Board reporting, and KPIs CAREER NOTES: SAGENT TECHNOLOGY, LLC, MOUNTAINVIEW, CA, EXECUTIVE VICE PRESIDENT AND CFO (NASDAQ:SGNT) 2000-2001 W-H ENERGY SERVICES, INC., HOUSTON, TX, EXECUTIVE VICE PRESIDENT AND CFO (NYSE: WHQ) 1995-2000 PRICEWATERHOUSE, HOUSTON, TX, SENIOR MANAGER CORPORATE RESTRUCTURING & BUSINESS TURNAROUND1989-1995 ARTHUR ANDERSEN, HOUSTON, TX, SENIOR MANAGER – FINANCIAL ADVISORY SERVICES 1984-1989 EDUCATION & TRAINING, PROFESSIONAL AFFILIATIONS AND SOFTWARE EXPERTISE Bachelor of Business Administration, Accounting, Texas Tech University, Lubbock, TX Dale Carnegie – Leadership Training Certified Public Accountant (40 hours per year Continuing Professional Education focus on Enterprise Performance, KPI Measurement, Corporate Taxation and Leadership) Certified in Financial Forensics, AICPA Chartered Global Management Accountant, AICPA AICPA & TSCPA Member Financial Executive Institute Member MS Navision | MS Dynamics GP | MS Dynamic AX09/AX12 | Oracle JD Edwards World Time Accounting | Oracle Hyperion| JD Edwards EnterpriseOne Advanced Cost Accounting | Oracle Hyperion Financial Management | Peachtree/Sage 50 | QuickBooks | SAP ERP Core Finance Software | Microsoft Office 2013 (Advanced Excel/PowerPoint/Access) CFO EXPERTISE EXECUTIVE EXPERIENCEAS CFO: David Eliff has accumulated more than 31 years in corporate financial management:  Responsible forover 25+ Annual consolidated financial statements audited without any outside auditor Adjusting Journal Entries.  Having a budgeting and strategic process impeccably integrated to the information systems.  Preparing monthly executivereports limited to 10 pages that speak loud and clear, with insights.  Managing international treasury (financing and hedging) programs, over and through financial crises.  Meticulous planning of M&A activities, with emphasis on integrating and capturing synergies.
  • 5.
    DAVID N. ELIFF,CPA CFF CGMA Resume, Page 5  Executing several corporate programs on Operational Excellence. MULTINATIONALEXPERIENCE From April 2011 to December 2012 was part of twopart management team that oversaw the doubling of Revenues and Quadrupling of EBITDA. TIC LLC sold in December at 6.2 times EBITDA.  Raised the necessary capital to take NASDAQ listed Particle Drilling private through a Pre-packaged insolvency(a"pre-pack")is a kind of bankruptcy procedure, where the restructure plan was agreed in advance of a company declaring its insolvency  CrossRoads LLC: Contract CFO. Managed multiple financial crises (NYSE:Seitel, NYSE: US Liquids to name a few.  Dupure International, Perfectstop,Cornerstone Valve- CFO: Restructuring forgrowth  W-H Energy Services (NYSE listed – CFO: Turnaround and best merger operation acknowledged within the large private equity participants.  AA&Co/PwC – Contract CFO, CRO or Senior Financial Advisor: Divestiture, Merger, Restructuring for growth, strategy for many companies forlocal economic crisis, M&A activities FINANCE FOR SME: Worked in a variety of industrial and technology sectors, from start-ups to mid-size companies.  Fund raising forprivate technology companies  Restructuring of financedepartments for higher productivity  M&A activities for SMEs CFO PROCESS EXPERTISE Strategy, PlanningandManagement  A solid Chief Financial Officerand strategic business partner to CEO and senior executive leadership team.  Assess and evaluate financial performance of organization with regard to long term operational goals, budgets and forecasts.  Provideinsight and recommendations to both short term and long term growth plan of organization.  Identify,acquire and implement systems and software to provide criticalfinancial and operational information (Key PerformanceIndicators) on a real-time basis.  Evaluate departments and make suggestion for automating processes and increasing workingefficiency.  Communicate, engage and interact with Board of Directors, CEO,COO and ExecutiveLeadership Team.  Create and establish yearly financial objectives that align with the company’s plan for growth and expansion.  Select and engage consultants, auditors and investors.  Recruit, interview and hire finance, accounting and payroll staff as required.  Serve as a key member of executive leadership team and round table discussion panel.  Participate in pivotal decisions as they relate to strategic initiatives and operational models.  Interact with and bring department into line withBoard of Directors plans initiatives and recommendations.  Implement policies, procedures and processes as deemed appropriate by senior leadership team.  Financial Analysis, Budgeting and Forecasting  Prepare and present monthly financial budgeting reports; monthly profit and loss by division, forecast vs. budget by division and weekly cash flow by division.  Review and analyze monthly financial results and provide recommendations.  Identify,develop and execute analysis of business initiatives, product launches and/or new service offerings.  Develop and maintain monthly operating budget and annual company operating budget.  Manage financial planning and analysis department. Supervise creation of reports, software implementation and tools for budgeting and forecasting.
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    DAVID N. ELIFF,CPA CFF CGMA Resume, Page 6  Participate in weekly conference calls with Lenders, Vendors and ExecutiveLeadership Team.  Accounting, General Ledger, Administration and Operations  Supervise the accounting department to ensure the proper functioning of all systems, databases and financial software. Provideregular maintenance and backup of all accountingsystems; supervise company financial staff.  Review and ensure application of appropriate internal controls,SOX compliance and financial procedures.  Ensure timeliness and accuracy of financial and management reporting data for federal funders, foundations, investors and company’s board of directors.  Oversee the preparation and communication of weekly,monthly and annual financial statements.  Oversee the preparation and timely filing of all local,state and federal tax returns.  Ensure SOX compliance regarding all financial functions.  Workwith Human Resources to ensure appropriate legal compliance.  Oversee the month end close process, constantly reviewing procedures while eliminating inefficiencies.  Oversee preparation of monthly, quarterly and annual financialstatements.  Review all month-end closing activities including general ledger accounts,balance sheet accountsand overhead cost allocation.  Enhance and implement financial and accounting systems, processes, tools and control systems  Hire, develop and manage accounting directors, managers and staff  Serve as a key point of contactfor external auditors; Manage preparation and support of all external audits.  Coordinate and strategize methods used to attain team goals withChief AccountingOfficerand Regional Controllers. Financial Management  Manage cash flow planning process and ensure funds availability.  Oversee cash, investments and asset management area.  Explore new investment opportunities and provide recommendations on potential returns and risks.  Maintain outstanding banking relationships and strategic alliances with vendors and business partners.  Utilize forward-lookingmodels and activity-based analyses to provide financial insight into the organization’s plans and operating budgets. Financial RelationsandPolicies  Engage finance committee and/or board of directors to develop short term and long term plans, projections and budgets.  Represent company to banks, financial partners, institutions, investors, public auditors and officials.  Remain current on audit best practices; and state, federal and locallaw regarding company operations. Financeand AccountingTeamManagement  Mentor and develop a team of as many as 10 direct reports, managing work allocation,systems training, performance evaluations, and the building of an effectiveand efficientteam dynamic.  Guide larger, cross-divisional teams outside of direct span of controlwithin main company divisions. CashManagement  Oversee weekly cash management.  Oversee AP Department, approve large payables, sign checks, and authorize large wires and ACHs.  Supervise Accounts Receivable management and provide guidance relating to the collection process. Other  Outstanding Knowledge and Understanding of GAAP, IFRS, SOX compliance and SEC Reporting.  Background coordinating with I.T. staff to manage and/or upgrade accounting system. Systems implementation.
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    DAVID N. ELIFF,CPA CFF CGMA Resume, Page 7  "Hands On" ERP Systems Experience – MicrosoftDynamics AX12, Great Plains, Navision, Oracle, SAP, JD Edwards or PeopleSoft.  Outstanding presentation skill.  Demonstrated leadership ability, confidenceand executive presence - ability to motivatestaff.  Excellent analytical, reasoning and problem solving skills.  Significant experience workingwith external auditors, internal controls and compliance related issues.