D AVID M.

R AINEY
203-273-6405 zepative@aol.com

S ENIOR E XECUTIVE
COO / CFO
Public & Private Companies
Technology, Service and Manufacturing Industries

easoned Business/Financial Executive with solid record of performance in public and private companies. Areas of
expertise include improving operating efficiency and productivity through revenue growth, systems/process
reengineering, cost reductions, and internal controls. Expert in combining strategic business and financial planning
with tactical execution to drive long-term gains in business performance, revenues, and profitability.
Motivational leader with ability to recruit highly talented teams. Experienced manager of multi-site, multifaceted
operations. Full GAAP and SEC reporting at expert level. Authority in finance and treasury, including debt and equity
issuance, mergers and acquisitions, financial statements/analysis, and worldwide cash management. Exceptional
project manager, consistently delivering complex technology and process transformations on time and on/under
budget.

Professional Highlights
Consulting CFO and COO to multiple companies in the $1-$10MM revenue range, restructuring finance operations
and raising significant investment capital.
Generated $60MM investment capital for a development-stage, publicly held technology company.
Completely restructured (above) technology company, increasing revenues by 73% in 2011 over 2009 and reducing
balance sheet liabilities by 80% ($8 million).
Overhauled financial operations of $30MM manufacturing companyintroducing new systems, stronger
processes, and tighter controls to ensure solid foundation for continued growth and profitability.
Revitalized faltering 3-facility manufacturing division and achieved $15MM profit turnaround in 18 months.
Led top-to-bottom performance improvements after rapid 100% growth of 18-state retail distribution organization.
With CEO, led sale of propane business for a record high industry multiple due to high profitability of operations.
Financial lead on multiple large scale capital projects, including a single $530MM project.

Professional Experience
DISCOUNT LAPTOP SHOP LLC
July 2014 - Present
Mid-size computer refurbisher (manufacturer) selling HP, Dell and Lenovo laptops, desktops and servers on the web
and internationally.

CFO, TREASURER AND SECRETARY

Co-lead company restructuring with President. Company had experienced rapid growth but was also producing
significant losses. Brought in to upgrade finance, accounting, policies, procedures and cash management. Worked
with President to secure new funding for Company. Interim funding successfully secured in October 2015.
Key Achievements
Reduced open payables by 50% in six months.
Restated 2013 financials to GAAP and changed all accounting to match manufacturing processes.
Successfully increased margins by 25% working with Chief Marketing Officer to improve costing and
therefore pricing.
Implemented real-time inventory management system that increased turns from 0.5x to 3.0x per year.
Jettisoned unprofitable customers and lines of business to stabilize company losses at lower level.

61 Horseshoe Hill Road, Pound Ridge, NY 10576

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RAINEY & ASSOCIATES, Pound Ridge, NY

Management, financial and legal consulting to start-ups and small to medium size businesses.

July 2012 June 2014

MANAGING DIRECTOR
Lead consulting assignments for legal and financial organization of start-up clients in the alternative energy,
manufacturing and retail spaces. Corporate formation, accounting systems setup, banking relationships, venture
and private equity funding, business development and project management. Turnaround consulting for small and
mid-size companies focusing on strategy and execution.
Key Achievements
Assignment 1 (alternative energy company) - as interim Controller, set up complete multi-company corporate
structure, ledger system and compliance system. Led financial modeling and fundraising for $125MM project.
Assignment 2 (internet software company) - as interim CFO, caught up public reporting that was over one year
behind in four months. Assisted with fundraising. Substantial debt workout and corporate restructuring
completed.
DEBT RESOLVE, INC., Tarrytown, NY
May 2007June 2012
Early-stage public company (OTC: DRSV) with patented technology for online debt collection/resolution.

INTERIM CEO (07/09 TO 06/10), PRESIDENT (02/08), CHIEF FINANCIAL OFFICER AND TREASURER
As senior operating and finance executive and member of the executive leadership team, drive strategic planning
and key business initiatives as well as manage all sales, finance, accounting, public reporting functions, legal and
human resources for growing business.
Key Achievements
Increased revenue by 73%, strengthened financial performance and controls, raised capital, closed a troubled
acquisition, and saved $2.5MM in annual cost (80% reduction); laid strong financial/operational foundation for
successful growth.
Increased revenue by 73% in 2011 over 2009 levels.
Raised $60MM in 2007 to fund an acquisitiona significant achievement in light of 2006 revenue below
$100K.
Slashed expenses by nearly $2.5MM annually through stringent cost controls across the organization.
Reduced legacy liabilities by 80% ($8MM) that facilitated $2.1MM in additional financing.
Closed two unprofitable subsidiaries and re-focused business on core software offerings.
Launched two new upgrades to system to open new markets for software solution.
Direct, hands-on responsibility for all GAAP compliance, SEC reporting and SOX implementation.
Recruited talented finance staff and built a strong team culture in a challenging environment prior to layoffs.
Introduced the first formal policies and procedures in the companys 5-year history.
Clean 2007-2011 audit opinions and no SEC compliance issues in 5 years.
HUDSON SCENIC STUDIO, INC., Yonkers, NY
$30M private manufacturing company with 3 business units and dominant share in its industry

2006

CHIEF FINANCIAL OFFICER AND TREASURER

Brought seasoned financial leadership to manufacturing firm that had increased revenue by 25% per year the last 2
years and needed to enhance systems, processes, and in-house financial acumen. Managed finance, audit,
operations analysis, information systems, human resources, and accounting.

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Key Achievements
Created a value-added finance function and drove process, personnel, and business model changes to prepare
organization for significant further growth. Maximized process efficiency to streamline overhead and
manufacturing throughput.
Quickly completed initial charge of implementing GAAP accounting and solid compliance and tax controls.
Led key initiative to upgrade and enhance IT systems to eliminate duplicate data input and manipulation and
automate key strategic information for senior management.
Identified inaccuracies in costing process and defined new system and controls for consistent profitability.
Led facility expansion to accommodate rapid growth and maximize efficiency of operations, including finance
and accounting.
STAR GAS PROPANE, LP, Stamford, CT
$300M retail energy division of $1B+ enterprise (Star Gas Partners, LP, NYSE: SGU)

20022005

VICE PRESIDENT OF FINANCE/CHIEF FINANCIAL OFFICER

Senior finance and operating executive for an 18-state division (1300 employees, 120 operating facilities) that
doubled in size from 2002 to 2005. Diverse scope of responsibilities quickly expanded beyond finance and audit to
include operations analysis, information systems, human resources, daily accounting oversight, and supervision of
50 employees. Worked closely with Executive Vice President and performed due diligence and analysis for mergers
and acquisitions. Led Sarbanes-Oxley project team.
Key Achievements
Provided vision and leadership to evaluate division-wide operations and initiate multiple business process
reengineering efforts. Streamlined operations, improved efficiencies, established internal controls, and
standardized business practices.
Finance lead on over 80 acquisitions during three year period.
Drove key initiative to upgrade and enhance information technology systems, directing new IT Director who
brought global perspective to the organization. Delivered all system projects on time, on budget.
Led team to develop and implement divisions first marketing database and new inventory management
system to cut cycle time 50% and improve real-time pricing capabilities, resulting in improved margins.
Directed efforts to create a centralized database to replace multiple databases at 120 operating locations.
Implemented Business Performance Measurement (BPM) system, strengthening forecasting and budgeting
capability and providing critical data consolidation for business analysis and executive decision-making.
Direct responsibility for SEC reporting, writing the MD&A and supporting analysis for each period.
Developed and implemented policies and procedures for internal audit and accounting programs, including
Sarbanes-Oxley documentation, for field roll-out and training.
Partnered with Operations to cut $250K annually through fleet rationalization and lower maintenance
expenses; reduced annual capital costs $500K through better utilization of tank inventory.
Partnered with Human Resources to create formal position descriptions and compensation structures that
previously did not exist in the company.
WESTVACO CORPORATION, Stamford, CT
$4B multinational paper, packaging and chemical manufacturer

19882002

Continually promoted through progressive senior-level assignments that expanded beyond finance/treasury to
include operations reorganization and business reengineering.

TREASURY GENERALISTCORPORATE HEADQUARTERS, 19972002

Following dramatic turnaround of Western Region division, was selected for a high-profile, senior-level treasury
generalist role. Accountable for $25MM global risk management budget for the companys operations in 20
countries; active role as worldwide cash management and consolidation backup; provided analysis and support to
investment committee. Performed ad hoc analyses for Chairman and CEO on business issues.

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Led preparation of 5-year financial plans, financial models/forecasts, acquisition analyses, and other financial
documents for monthly Board meetings. Collaborated with Treasurer and Assistant Treasurer on debt and equity
issuances, including development of financials for rating agencies, documentation for Law Department, and
investment banking relationships. Administered stock option program and share repurchases.
Key Achievements
Key role on acquisition team for 30 deals valued from a few million to $500MM. Performed due diligence,
internal consulting, and detailed risk management of new acquisitions and integration.
Achieved $3MM in annual savings on risk management budget (from $28MM down to $25MM).
Headed $5MM corporate offices relocation project from Manhattan to Connecticutcompleted on time and
under budget to senior managements unanimous satisfaction.
Managed and rationalized $700MM real estate portfolio in collaboration with Assistant Treasurer.

WESTERN REGION CONTROLLER, ENVELOPE DIVISIONWestvaco Corporation, Los Angeles, CA, 19911997
FINANCIAL ANALYSIS MANAGER, ENVELOPE HQWestvaco Corporation, Springfield, MA, 19901991
FINANCIAL ANALYST, FINE PAPERS DIVISIONWestvaco Corporation, Luke, MD, 19881990

Education
VANDERBILT UNIVERSITY, Nashville, TN, 1988 (Dual Degrees)
Master of Business Administration; concentration in Finance/Strategic Planning
Juris Doctorate; emphasis in corporate, securities, tax, and contract law. Admitted to BarTennessee
UNIVERSITY OF CALIFORNIA, Santa Barbara, CA, 1982
Bachelor of Arts in Political Science/International Relations; Minor in Economics with Accounting emphasis