Carl E. Widell, Jr.
Summary
Financial professional experienced in asset backed lease financing, credit restructuring, risk assessment and risk sharing with knowledge of the international business environment. Software developer. Developed reservation, accounting and project management software for the aviation industry. Veteran with combat experience.
Overview
2016
2016
years of professional experience
1
1
Certification
Work History
<ul><li>Comptroller</li><li>Equity partner, no salary., although expenses covered</li><li>2012 to 2016</li><li>Raised $1 million for a project to create a liquefaction facility so that Ghana could utilize LNG to fuel its power plants in Tema</li><li>Negotiated financing for a barge containing liquefaction equipment worth $500 million on a lease purchase basis</li><li>Underbid by the Chinese government</li></ul>
Development Equity Associates LLC
01.2012 - 01.2016
- Comptroller
- Equity partner, no salary., although expenses covered
- 2012 to 2016
- Raised $1 million for a project to create a liquefaction facility so that Ghana could utilize LNG to fuel its power plants in Tema
- Negotiated financing for a barge containing liquefaction equipment worth $500 million on a lease purchase basis
- Underbid by the Chinese government
<ul><li>Moved phone traffic from North America to West Africa using TCP/IP protocol</li><li>Chief Financial Officer from 2004 to 2007</li><li>The technology proved successful and the company proved profitable</li><li>Landing rights were terminated when NTI refused to pay illegal compensation to the new CEO</li></ul>
Network Technologiers International, Inc.
01.2004 - 01.2007
- Moved phone traffic from North America to West Africa using TCP/IP protocol
- Chief Financial Officer from 2004 to 2007
- The technology proved successful and the company proved profitable
- Landing rights were terminated when NTI refused to pay illegal compensation to the new CEO
CEO
ulliRaised funds from investors for telecommunications company to run telephone traffic from North America to Africa/liliAttempted to obtain downlinks in Djibouti and Ghana/liliActive fro 2000 to 2004/liliCompany refused to pay personal compensation to government employees in both Djibouti and in Ghana and was unable to secure contracts/li/ul
Wahington, DC
01.2000 - 01.2004
- Raised funds from investors for telecommunications company to run telephone traffic from North America to Africa
- Attempted to obtain downlinks in Djibouti and Ghana
- Active from 2000 to 2004.
- Company refused to pay personal compensation to government employees in both Djibouti and in Ghana and was unable to secure contracts
<ul><li>Chief financial officer from 1999 to 2000</li><li>Part time salary: $110,000</li><li>Prepared financial reports to government standards.</li><li>Supervised the travel and training of 20 scientists from third world countries to be trained in interpretation of satellite imagery at NASA's Ames facility in San Francisco</li></ul>
NASA Subcontractor
01.1999 - 01.2000
- Chief financial officer from 1999 to 2000
- Part time salary: $110,000
- Prepared financial reports to government standards.
- Supervised the travel and training of 20 scientists from third world countries to be trained in interpretation of satellite imagery at NASA's Ames facility in San Francisco
<ul><li>Created and owned computer software company active from 1986 to 1998</li><li>Developed litigation support software for court reporters which became standard in the industry</li><li>Developed airline reservation software for America West Vacations</li><li>Purchased accreditation software company and sold combined companies to medical conglomerate that went public</li><li>Compensation averaged $200,000 per year</li></ul>
01.1986 - 01.1998
- Created and owned computer software company active from 1986 to 1998
- Developed litigation support software for court reporters which became standard in the industry
- Developed airline reservation software for America West Vacations
- Purchased accreditation software company and sold combined companies to medical conglomerate that went public
- Compensation averaged $200,000 per year
<ul><li>Department Head of insurance software which modeled property portfolios against a computer model of California earthquake potential to determine portfolio probable maximum loss</li><li>Salary $160,000</li><li>Experience in risk assessment modeling</li></ul>
JH Wiggins Company
01.1977 - 01.1978
- Department Head of insurance software which modeled property portfolios against a computer model of California earthquake potential to determine portfolio probable maximum loss
- Salary $160,000
- Experience in risk assessment modeling
<ul><li>Comptroller of $100 million</li><li>Conglomerate Including 2000 apartment units, 8 medical offices, marina and equipment leasing company</li><li>Prepared corporate financial statements and tax returns for all entities</li><li>Salary $150,000</li><li>General manager of equipment leasing company</li><li>Managed asset based lease financing</li><li>Managed relations between bankers and board of directors</li></ul>
Beauchamp Enterprises
01.1975 - 01.1977
- Comptroller of $100 million
- Conglomerate Including 2000 apartment units, 8 medical offices, marina and equipment leasing company
- Prepared corporate financial statements and tax returns for all entities
- Salary $150,000
- General manager of equipment leasing company
- Managed asset based lease financing
- Managed relations between bankers and board of directors
<ul><li>Controller of California surety bond insurance company</li><li>Experience in risk assessment and credit restructuring</li><li>Prepared financial statements and IRS returns</li><li>Salary $140,000.</li><li>Handled audit by CA Insurance Department</li></ul>
Insco Insurance Services, Inc.
01.1972 - 01.1976
- Controller of California surety bond insurance company
- Experience in risk assessment and credit restructuring
- Prepared financial statements and IRS returns
- Salary $140,000.
- Handled audit by CA Insurance Department
<ul><li>Created company in 2017 to create solar energy facilities in West Africa</li><li>Entered into agreement with XU industries of Accra in 2020 to build $5 million solar facility for manufacturing plants</li><li>Operations were stopped with the advent of COVID and the cessation of train shipments from Ukraine causing interest rates to rise to 35% in Ghana</li></ul>
01.2017
- Created company in 2017 to create solar energy facilities in West Africa
- Entered into agreement with XU industries of Accra in 2020 to build $5 million solar facility for manufacturing plants
- Operations were stopped with the advent of COVID and the cessation of train shipments from Ukraine causing interest rates to rise to 35% in Ghana
<ul><li>As a founding partner, structured limited partnerships investment and raised $40 million to explore for geothermal resource in 1983</li><li>Modeled geothermal power plant production</li><li>Succeeded in proving the resource</li><li>Participated in profits of $60,000 per partner from</li><li>1989 to 2003, then sold my partnership interest</li></ul>
01.1983
- As a founding partner, structured limited partnerships investment and raised $40 million to explore for geothermal resource in 1983
- Modeled geothermal power plant production
- Succeeded in proving the resource
- Participated in profits of $60,000 per partner from
- 1989 to 2003, then sold my partnership interest
<ul><li>Avionics officer overseeing 180 marines</li><li>Trained in computer basics; boolean algebra, machine language, early programming languages</li><li>Supervised maintenance and repair of radar, electrical countermeasure and internal navigation equipment</li><li>Retired as Captain</li><li>Air medal with numeral 9</li></ul>
US Marine Corps
- Avionics officer overseeing 180 marines
- Trained in computer basics; boolean algebra, machine language, early programming languages
- Supervised maintenance and repair of radar, electrical countermeasure and internal navigation equipment
- Retired as Captain
- Air medal with numeral 9
<ul>
<li>Raised $2.4 million</li>
<li>To explore hot dry rock geothermal, a technique for superheating water through fracking to run an electrical generating facility.</li>
<li>Partnered with scientists from Los Alamos to create engineering plan for a test facility in the Juarez mountains in New Mexico</li>
<li>This type of geothermal, now known as 'enhanced geothermal,' is currently supported by the Department of Energy</li>
</ul>
- Raised $2.4 million
- To explore hot dry rock geothermal, a technique for superheating water through fracking to run an electrical generating facility.
- Partnered with scientists from Los Alamos to create engineering plan for a test facility in the Juarez mountains in New Mexico
- This type of geothermal, now known as 'enhanced geothermal,' is currently supported by the Department of Energy
Education
A.B. - History
Thesis on economic development of Japan.
accounting
GPA: 36 units
MBA -
GPA: 24 units
Skills
- Expense Tracking
- Financial Forecasting
- Tax Compliance
- Auditing procedures
- Investment Analysis
- Cash Flow Management
Certification
- Licensed as an Enrolled Agent with the IRS.
- Captain US Marines - Combat Veteran - Honorable Discharge
Timeline
<ul><li>Created company in 2017 to create solar energy facilities in West Africa</li><li>Entered into agreement with XU industries of Accra in 2020 to build $5 million solar facility for manufacturing plants</li><li>Operations were stopped with the advent of COVID and the cessation of train shipments from Ukraine causing interest rates to rise to 35% in Ghana</li></ul>
01.2017
<ul><li>Comptroller</li><li>Equity partner, no salary., although expenses covered</li><li>2012 to 2016</li><li>Raised $1 million for a project to create a liquefaction facility so that Ghana could utilize LNG to fuel its power plants in Tema</li><li>Negotiated financing for a barge containing liquefaction equipment worth $500 million on a lease purchase basis</li><li>Underbid by the Chinese government</li></ul>
Development Equity Associates LLC
01.2012 - 01.2016
<ul><li>Moved phone traffic from North America to West Africa using TCP/IP protocol</li><li>Chief Financial Officer from 2004 to 2007</li><li>The technology proved successful and the company proved profitable</li><li>Landing rights were terminated when NTI refused to pay illegal compensation to the new CEO</li></ul>
Network Technologiers International, Inc.
01.2004 - 01.2007
CEO
ulliRaised funds from investors for telecommunications company to run telephone traffic from North America to Africa/liliAttempted to obtain downlinks in Djibouti and Ghana/liliActive fro 2000 to 2004/liliCompany refused to pay personal compensation to government employees in both Djibouti and in Ghana and was unable to secure contracts/li/ul
01.2000 - 01.2004
<ul><li>Chief financial officer from 1999 to 2000</li><li>Part time salary: $110,000</li><li>Prepared financial reports to government standards.</li><li>Supervised the travel and training of 20 scientists from third world countries to be trained in interpretation of satellite imagery at NASA's Ames facility in San Francisco</li></ul>
NASA Subcontractor
01.1999 - 01.2000
<ul><li>Created and owned computer software company active from 1986 to 1998</li><li>Developed litigation support software for court reporters which became standard in the industry</li><li>Developed airline reservation software for America West Vacations</li><li>Purchased accreditation software company and sold combined companies to medical conglomerate that went public</li><li>Compensation averaged $200,000 per year</li></ul>
01.1986 - 01.1998
<ul><li>As a founding partner, structured limited partnerships investment and raised $40 million to explore for geothermal resource in 1983</li><li>Modeled geothermal power plant production</li><li>Succeeded in proving the resource</li><li>Participated in profits of $60,000 per partner from</li><li>1989 to 2003, then sold my partnership interest</li></ul>
01.1983
<ul><li>Department Head of insurance software which modeled property portfolios against a computer model of California earthquake potential to determine portfolio probable maximum loss</li><li>Salary $160,000</li><li>Experience in risk assessment modeling</li></ul>
JH Wiggins Company
01.1977 - 01.1978
<ul><li>Comptroller of $100 million</li><li>Conglomerate Including 2000 apartment units, 8 medical offices, marina and equipment leasing company</li><li>Prepared corporate financial statements and tax returns for all entities</li><li>Salary $150,000</li><li>General manager of equipment leasing company</li><li>Managed asset based lease financing</li><li>Managed relations between bankers and board of directors</li></ul>
Beauchamp Enterprises
01.1975 - 01.1977
<ul><li>Controller of California surety bond insurance company</li><li>Experience in risk assessment and credit restructuring</li><li>Prepared financial statements and IRS returns</li><li>Salary $140,000.</li><li>Handled audit by CA Insurance Department</li></ul>
Insco Insurance Services, Inc.
01.1972 - 01.1976
- Licensed as an Enrolled Agent with the IRS.
- Captain US Marines - Combat Veteran - Honorable Discharge
<ul><li>Avionics officer overseeing 180 marines</li><li>Trained in computer basics; boolean algebra, machine language, early programming languages</li><li>Supervised maintenance and repair of radar, electrical countermeasure and internal navigation equipment</li><li>Retired as Captain</li><li>Air medal with numeral 9</li></ul>
US Marine Corps
<ul>
<li>Raised $2.4 million</li>
<li>To explore hot dry rock geothermal, a technique for superheating water through fracking to run an electrical generating facility.</li>
<li>Partnered with scientists from Los Alamos to create engineering plan for a test facility in the Juarez mountains in New Mexico</li>
<li>This type of geothermal, now known as 'enhanced geothermal,' is currently supported by the Department of Energy</li>
</ul>
A.B. - History
Thesis on economic development of Japan.
accounting
GPA: 36 units
MBA -
GPA: 24 units
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