Vice president/chief financial officer/member of the board of directors

Joel Mandelbaum

CFO, CONTROLLER, ACCOUNTANT, AUDITOR

Chatsworth, CA

Work Experience

VICE PRESIDENT/CHIEF FINANCIAL OFFICER/MEMBER OF THE BOARD OF DIRECTORS

TRIGG LABORATORIES, INC

2005 to 2012

Lubricant & Massage Oil Manufacturer & Distribution Company
Reports directly to the Chief Operating Officer. Previously reported to the President and Founder
Tightened up systems and controls Set up extensive financial tracking system to monitor key areas of the company
Handled all bank relations Handled creditor relations Managed corporations cash Liaison to external CPA firm
Handled owners personal finances and oversaw his investments.

RESULTS:
⋄ Increased cash collections while reducing cash outflow.
⋄ Successfully negotiated doubling line of credit and equipment line with companys financial institution.
⋄ Cleaned up the company books and records which brought to light areas of overspending.
⋄ Reduced costs resulting in contributing to increasing EBITDA from 4% to 15%.
⋄ Developed management reports containing key financial and operational information in a timelier manner.

CONTROLLER

Lambs & Ivy, Inc

2001 to 2005

Consumer Products Distribution Company
Reports directly to the CEO/President
Tightened up systems and controls Set up extensive financial tracking system to monitor key areas of the company
Handled all bank relations Handled creditor relations Managed corporations cash Liaison to external CPA firm.

RESULTS:
⋄ Increased cash collections while reducing cash outflow.
⋄ Reduced inventory by pinpointing overstocked, slow and non-moving items.
⋄ Initiated inventory mini - max system.
⋄ Developed management reports containing key financial and operational information in a more timely manner.

CHIEF FINANCIAL OFFICER

Hayashi For Hair, Inc

1994 to 2001

Reports directly to the CEO and Executive Vice President
Tightened up systems and controls for multi-company environment Set up extensive financial tracking system
Handle all bank relations Handle creditor relations Manage corporations cash Liaison to external CPA firm.

RESULTS:
⋄ Increased cash collections while reducing cash outflow.
⋄ Reduced inventory by pinpointing slow and non-moving items.
⋄ Developed management reports containing key financial and operational information in a more timely manner.
⋄ Successfully negotiated reduction of bank covenants while doubling line of credit.

VICE PRESIDENT/CHIEF FINANCIAL OFFICER/CORPORATE SECRETARY

Ambulatory Medical Management

1989 to 1994

Management Service Company for Industrial Health Care Network and Related Entities
Reported directly to the CEO
Responsible for six corporations Given the responsibility to increase collections, cut/maintained costs and made consolidated parent profitable Set up extensive financial tracking system to monitor key areas of the company . Handled bank relations Handled creditor relations Managed consolidated corporations cash . Intermediary between outside law firms and company officials Liaison to external CPA firm.

RESULTS:
Turned around consolidated negative net worth to positive one by implementing the following:
⋄ Streamlined and centralized accounting department.
⋄ Increased cash collections by 20% while reducing costs company wide.
⋄ Reduced corporate staff while increasing morale and productivity.
⋄ Negotiated sub-lease of corporate headquarters resulting in over 50% decrease of monthly rental expense.
⋄ Co-supervised corporate move resulting in "ZERO" loss of work time.
⋄ Designed and implemented system to maximize corporations cash.

CORPORATE CONTROLLER/CORPORATE SECRETARY

Mary Jane Company

1986 to 1989

Apparel manufacturer
Reported to the CEO, CFO and the President.
Acted as CFO while CFO on disability.
Responsible for three corporations Managed two controllers Handled bank relations Handled creditor relations Intermediary between outside law firm and company officials Liaison to external big eight CPA firm.

RESULTS:
⋄ Streamlined and merged two accounting departments.
⋄ Reduced personnel in accounting as well as other departments.
⋄ Designed and implemented system to maximize corporations cash.
⋄ Streamlined computer and manual reports by more than 50%.
⋄ Analyzed and recommended closing of unprofitable corporations and product lines.
⋄ Performed internal audits and enacted cost cutting/saving measures.

CORPORATE CONTROLLER

NU-MED Hospitals, Inc

1984 to 1986

L.A. - Health Care Company - excess of $200 million sales.
Reported to corporate Senior V.P. Finance
Responsible for accounting staff of ten Controlled ten in house corporation ledgers Handled bank relations
Corporate liaison to external big eight CPA firm.

RESULTS:
⋄ Designed system to integrate seventy-five bank account balances to maximize investment in excess funds.
⋄ Designed and controlled system for tracking 401K funds from twenty company payrolls to Bank and Actuary.
⋄ Designed and controlled system to reconcile monthly balancing of fifty intercompany accounts.
⋄ Improved timeliness of ten separate financial statements from thirty to fifteen days after month end.
⋄ Raised morale and productivity of accounting department.

CONTROLLER/CORPORATE CONTROLLER

Quantech Electronic Service, Inc

1977 to 1984

L.A (formerly Universal Television and Teledyne Service)
- Both Consumer Electronics Service Organizations.

Universal as Corporate Controller

Quantech Electronic Service, Inc

1977 to 1983

Reported to President of Universal as Acting Chief Financial Officer during 1983.
Reported to California VP Finance of Quantech as Controller during 1984.
Responsible for automating manual books and records Supervised accounting staff of twelve prior to take-over,
twenty after take-over Managed consolidated corporations cash Handled bank relations Handled creditor relations
Liaison to external CPA firm Facilitated merger and acquisition of Universal Television by Quantech.

RESULTS:
⋄ Streamlined and merged two accounting departments.
⋄ Converted Universal/Teledyne computerized accounting systems to Quantechs.
⋄ Reduced inventory costs by implementing computerized tracking system.
⋄ Negotiated better price breaks for supplies, inventory and truck rentals.
⋄ Performed internal audits and enacted cost cutting/cost saving measures.

Liaison between client and partners

NEW YORK CITY CPA FIRMS -

New York, NY

1971 to 1977

Responsible for supervising audit staffs in the presentation of certified audits, set up systems and controls at clients, and recommended areas for potential cost cutting / savings to clients. Liaison between client and partners.

Education

B.B.A. in ACCOUNTING

Pace College -

New York, NY

1971

Skills

Setting up and monitoring systems and controls; Cost cutting; Monitoring and improving corporations cash; Dealing directly with bankers; Liaison to external CPA firm; Save big dollars at year end by supplying information to accountants in detail and timely manner.

Additional Information

QUALIFICATIONS
⋄ Combined accounting experience in both public and private as

• Chief Financial Officer
• Corporate Controller
• Accountant
• Auditor
⋄ Expert in turnaround situations

• Set up financial tracking system
• Tracked major revenue and expense categories
• Obtained bank financing
• Improved financial condition

⋄ Management qualifications

• Entrepreneurial
• Innovator
• Cash manager
• Team player