Summary
Overview
Work History
Education
Skills
Certification
Residencephone
Timeline
Generic

Mark H. Karsch

Lansdale

Summary

High impact, team oriented, experienced operational and financial executive with significant experience in financial management, operational management, business planning and measurements, mergers and acquisitions, developing and evaluating financing alternatives and developing strategic business partners in rapidly changing, highly competitive markets

Overview

46
46
years of professional experience
1
1
Certification

Work History

Chief Financial Officer

Nexxt, Inc
03.2007 - Current
  • Engaged to work with the Company's CEO, Senior Management and Venture Investors to develop a profitable growth-oriented business strategy
  • Worked directly with CEO and COO to transition the Company from a revenue sharing service model to direct full service integrated HCM software and services provider
  • Developed metrics-based model for planning, budgeting, reporting and driving operational efficiencies directly contributing to average annual revenue growth in excess of 20% and EBITDA margins in excess of 20%
  • Negotiated key aspects of 3 strategic acquisitions, resulting in expansions in both product offering and geographic reach Coordinated all aspects of due diligence and post-acquisition integration
  • Worked directly with the VP of Sales to identify and develop a strategic partnership with a Partner with a proprietary technology platform to add a texting component to Nexxt’s HCM platform
  • The strategic partnership provided the Company with a competitive advantage over larger competitors in the HCM software market
  • Since the successful launch withing the HCNM platform, texting has added nearly $30mm to the Company’s overall revenues while expanding opportunities to introduce other products within its Platform
  • Handled all aspects of sourcing and refinancing $10mm is debt, saving the Company approximately $1.6mmin interest over a 5-year period
  • Negotiated modifications to the refinance debt covenants, allowing the Company to distribute approximately $7.5mm in dividends to shareholders
  • At the outset of Covid, secured a $1.3mm PPP loan to allow the Company additional flexibility to respond to the challenges Covid placed on the economy and Nexxt
  • Handled all aspects of securing the Loan and having the $1.3mm loan and related interest forgiven by the SBA

Chief Financial Officer

Escalon Medical Corp
07.2005 - 03.2006
  • Engaged to work with the Company's CEO and Senior Management team to improve the management and external reporting functions and develop a profitable business model
  • Implemented reporting tools and processes to automate the monthly closing process, reducing the closing cycle by 8 business days while adding full budget to actual reporting and operational variation analysis
  • Negotiated key aspects of a strategic acquisition
  • Coordinated all aspects of due diligence
  • Worked directly with the President of the Company's diagnostic subsidiary to in-license two products and negotiate private label manufacturing agreements to broaden the subsidiary's product offering
  • Managed all aspects of the Company's external reporting including preparation of the Form 10-k's and Form 10-Q's
  • Assisted the Company's Corporate Secretary with the preparation of the annual proxy
  • Implemented tracking of key operating metrics and operating initiatives
  • Implemented monthly meetings with operating personnel to review actual operating results, metrics and operating initiatives vs
  • Established goals, timeframes and plan
  • Implemented process and control improvements necessary to position the Company to achieve Sarbanes-Oxley compliance
  • Coordinated ongoing compliance efforts
  • Upgraded and relocated the Company's financial servers from a remote subsidiary to a Sarbanes' compliant location at Corporate
  • Expanded daily backup procedures

Chief Financial Officer

Multimedia Marketing Training Solutions
08.2003 - 07.2005
  • Engaged to work with the Company's President to evaluate the Company's business model and operating practices to return the Company to profitability and position the Company for profitable growth
  • Reviewed operating results, type of projects being performed, staffing levels and skill sets
  • Developed a staffing plan which resulted in an overall 17% reduction in staff within 30 days
  • Worked with the Company's Chief Creative Officer to install best practices for handling all aspects of the consulting engagement from planning and communicating through execution and billing, resulting in efficiencies in project performance, improved client satisfaction, higher billing and recovery on change order requests and timelier project billing
  • Helped return Company to profitability in the 4th quarter of 2003
  • Implemented tracking of key operating metrics
  • Assisted Company President in structuring and performing the due diligence on personal minority investments in two businesses outside the Company
  • Overhauled the Company's benefit plans, increasing both the breadth and quality of the plans, without increasing the cost to either the Company or its employees
  • Identified and negotiated all aspects of lease for new Pennsylvania office location

Senior Vice President, Chief Financial Officer

Integrated Marketing Communications LLC
08.2002 - 08.2003
  • Engaged to work with the Company's President to develop a new business model to leverage the core talent of a creative agency with a very seasonal business and clientele
  • Worked with the existing President to launch two additional complementary vertical businesses to leverage the existing resources of the creative agency
  • The new businesses were cash flow positive in their first quarter of operations
  • Overhauled the existing legal structure utilizing tax efficient LLCs
  • Created incentive-based equity and compensation plans to align the President's of the new verticals equity and compensation packages with the growth business plan of the restructured entity
  • Worked directly with the Company's attorneys to develop a tax deferred structure for the restructuring and the equity grants to senior management of the restructured entity
  • Developed base level job cost reporting and job profitability measurements for all the entities
  • Working directly with a newly hired director of operations to identify and implement a new integrated operational and financial planning system to coordinate and streamline estimating, project management, job costing, scope change tracking, billing and accounting
  • Developed a detailed financial plan and operating metrics for each vertical business for 2003
  • Assisted the President of each business unit in presenting the 2003 plan to a newly formed Board of Directors
  • Identified and negotiated lease terms for an affiliated entity
  • Consolidated 3 operations in one facility resulting in increased operating efficiencies while reducing rental payments

Senior Vice President, Chief Financial Officer

eonDigital, Inc.
11.2001 - 04.2002
  • Engaged to evaluate Company's strategic plan, business model, and all options with respect to financing and developing partnership opportunities for an early stage technology Company
  • Developed and implemented all aspects of a corporate restructuring, resulting in a reduction in the monthly cash bum rate in excess of 50% within 45 days of employment
  • Negotiated key aspects of a Bridge Loan with existing venture partners to allow the Company additional time to gain traction with customer acquisition and financing efforts
  • Negotiated key terms of a Forbearance Agreement with an existing secured creditor
  • Negotiated standstill agreements with vendors representing 92% of total delinquent payables, substantially all of which were more than 90 days delinquent
  • Developed financial plan, key operating metrics and a financial planning and reporting function for the restructured entity
  • Initiated and participated in numerous meetings with potential financing and strategic partners, and potential suitors
  • Negotiated terms of D&O insurance policy for the restructured entity
  • Overhauled the company's medical insurance and benefit programs, resulting in a 22% reduction in expense while increasing total employer participation in the plans

Vice President, Chief Financial Officer

4anything.com, Inc
02.1999 - 08.2000
  • Responsible for developing and implementing a financial model, including reporting metrics for presentation to investment bankers and venture capitalists
  • Developed financial plan, key operating metrics and a business planning function
  • Established quantitative and qualitative metrics for financial and operational reporting
  • Presented operational and financial overviews monthly to Senior Management and bi- monthly to the Board of Directors
  • Developed relationships and interviewed numerous investment bankers for a final round of private financing and IPO filing
  • Made presentations and recommendations to Board of Directors
  • Negotiated and restructured key aspects of valuation preferences and terms in a total of $21.2 MM of venture financing, including $11.0MM in June 2000
  • Coordinated operational/financial due diligence
  • Leverage equity financing with $1.2 MM of secured bank debt
  • Negotiated key aspects of partnership, distribution and technology licenses, reducing up- front cash requirements, service fees and network real estate requirements by 20-50%
  • Coordinated negotiations and due diligence on numerous content, distribution and e- commerce partnerships
  • Implemented in-house financial, human resources, technical recruiting and legal functions
  • Recruited key team members and managed the respective functions
  • Overhauled the Company's incentive compensation programs, 401(k) and insurance plans
  • Provided operational and financial support for all operating functions
  • Grew Company to a top 90 Media Metrics property with less than $20MM investment

Senior Vice President, Chief Financial Officer and Director

Tseng Labs, Inc.
09.1997 - 12.1998
  • Responsible for developing and implementing a strategic re-focus of operations
  • Eliminated monthly operating losses of $1mm and designed a last time buy program which generated in excess of $1mm of incremental cash
  • Negotiated key aspects of the sale of graphics development assets
  • Restructured nontransferable software licenses which increased sales proceeds by $1.6mm
  • Turned $10mm of non-cash assets into cash
  • Coordinated due diligence on numerous potential acquisition/investment transactions
  • Worked directly with the CEO to identify a merger partner, eliminating $1.?mm of investment banking fees
  • Negotiated key aspects of $175mm merger
  • Successfully completed strategic merger, increasing shareholder value over 350% during 1998
  • Supervised all aspects of Joint Proxy/S-4 Registration Statement filing

Senior Audit Manager - Enterprise Group

Arthur Andersen LLP
07.1978 - 05.1991
  • Provided business, financing, accounting and acquisition consulting and support services to a number of diverse, growth oriented companies
  • Provided financial and business support for a $50mm acquisition including deal structure, financing, due diligence, consolidated business plan development and integration planning
  • Managed 3 separate S-1 filings, raising in excess of $100mm
  • Provided M&A due diligence and deal structuring consulting for LBOs in diverse industries
  • Directed all aspects of 2 'turnaround' projects including debt restructuring, business refocusing and overhead reduction identification and implementation
  • Provided broad range of business advisory services to emerging growth companies in diverse industries including technology, telecommunications, service and manufacturing

Education

BS - Accounting

St. Joseph University
01.1978

Skills

  • Strategic financial planning

  • Financial management

  • Financial policy creation

  • Performance metrics analysis

  • Mergers and acquisitions experience

  • Financial strategy development

    • Financing Strategies

    Operational Efficiency

Certification

CPA, Pennsylvania, 1978

Residencephone

610-584-5392

Timeline

Chief Financial Officer

Nexxt, Inc
03.2007 - Current

Chief Financial Officer

Escalon Medical Corp
07.2005 - 03.2006

Chief Financial Officer

Multimedia Marketing Training Solutions
08.2003 - 07.2005

Senior Vice President, Chief Financial Officer

Integrated Marketing Communications LLC
08.2002 - 08.2003

Senior Vice President, Chief Financial Officer

eonDigital, Inc.
11.2001 - 04.2002

Vice President, Chief Financial Officer

4anything.com, Inc
02.1999 - 08.2000

Senior Vice President, Chief Financial Officer and Director

Tseng Labs, Inc.
09.1997 - 12.1998

Senior Audit Manager - Enterprise Group

Arthur Andersen LLP
07.1978 - 05.1991

BS - Accounting

St. Joseph University

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Mark H. Karsch