Jim Lucas Email & Phone Number

Chief Financial Officer specializing in short-notice interim financial leadership for middle-market investor-backed companies nationwide. Industry agnostic having worked over 25 years in a variety of industries both directly for companies and on behalf of private equity investors.

Mountain View, Wy, Us

San Diego, California, Us

♦ Provided critical financial leadership to 𝟮𝟬𝟬+ employee company during $5.3 million Seed round and $18 million Series A round. Headlight Health was formerly SokyaHealth during its Seed stage.♦ Developed comprehensive, custom model to combine actual data from three distinct systems: billing and collections (Medisoft), payroll (ADP) and other expenses (QuickBooks then NetSuite) retroactively for 18 months for a detailed view of historical financial performance and new KPIs♦ Used historical KPI results to create P&L projections by state based on actual performance down to the individual therapist level including therapist type and utilization♦ Worked with 𝗣𝗔𝗖𝗘 𝗛𝗲𝗮𝗹𝘁𝗵𝗖𝗮𝗿𝗲 𝗖𝗮𝗽𝗶𝘁𝗮𝗹 (first institutional investor - Seed Stage) to pursue growth/mezzanine debt opportunities♦ Made decision and led♦ Led company implementation of NetSuite♦ Developed and delivered finance portion of Board presentations♦ Worked with legal, tax and insurance providers

Norwood, Ma, Us

American Holt is a Boston-based manufacturer of aftermarket parts for high-volume food packaging machinery ♦ Provided reinforcement and guidance regarding directives from new PE owner’s team (𝗔𝗿𝗰𝗹𝗶𝗻𝗲 𝗜𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁 𝗠𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁)♦ Coached senior management team and company founder on interaction with PE ownership♦ Participated with company management and PE value creation team in strategic planning sessions♦ Calculated opening / closing balance sheet adjustments and goodwill♦ Developed and implemented company’s first budgeting financial model♦ Allocated responsibility and trained company staff in forecasting and reporting responsibilities using new tools going forward♦ Managed development, and coached delivery of, the company’s first budget presentation for Board approval

Sunnyvale, California, Us

ClearLight is a 𝗪𝗶𝗲𝗴𝗲𝗿𝘀 𝗖𝗮𝗽𝗶𝘁𝗮𝗹 𝗣𝗮𝗿𝘁𝗻𝗲𝗿𝘀 backed biotechnology company developing artificial intelligence, automated instrumentation and associated reagents for non-destructive 3D spatial tissue analysis to facilitate preclinical and clinical research.♦ Conducted capital raising including new and existing equity investors, equipment leasing, government sponsored loans (SBA) and grants (NIH).♦ Managed option plan and oversight of 409A valuations.♦ Managed pricing and discounting strategy of new and existing service and product offerings.♦ Managed outside accounting, tax, legal, human resources, and IT service providers.Activities with other companies during this period included:♦ Pursuit of a Management Buy-Out opportunity of a middle-market consumer electronics company in partnership with the Target’s former CEO and a private equity group (𝗧𝗵𝗲 𝗥𝗶𝘃𝗲𝗿𝘀𝗶𝗱𝗲 𝗖𝗼𝗺𝗽𝗮𝗻𝘆).♦ Provided CFO Advisory (Office of the CFO) services to Martinez Steel, a private equity-backed (𝗡𝗲𝘄 𝗦𝘁𝗮𝘁𝗲 𝗖𝗮𝗽𝗶𝘁𝗮𝗹 𝗣𝗮𝗿𝘁𝗻𝗲𝗿𝘀), regional commercial construction company focused on large rebar placement projects including California's High Speed Rail initiative and SoFi Stadium.♦ Advised the private owners of the largest supplier of fresh herbs to food service distributors in the United States. Established monitoring and reporting of financial performance. Developed KPI reporting on a weekly basis, and oversaw the conversion to an ERP system (FreshByte – produce industry specific).

Comhear is an audio technology company focused on commercializing patented algorithms combined with specialized hardware to manage sound in exciting ways for consumer and commercial market applications.Below is a partial list of my responsibilities and accomplishments at Comhear:♦ Conducted $12 million capital raise and note conversion into Series A convertible preferred stock with warrants.♦ Communicated and managed complex financing terms, capitalization table management, incentive stock option plan management, corporate governance and investor relations.♦ Responsible for maintaining financial records in accordance with GAAP, financial reporting to management, the Board and external stakeholders, maintaining and presenting near-term (13-week) and long-term (five-year) projections of P&Ls, Balance Sheets, and Statements of Cash Flow, and financial planning and analysis.♦ Managed treasury activities including forecasting working capital requirements based on business forecasts and projected balance sheet metrics (DSO, DPO), projecting payroll and other non-working capital cash requirements, reporting cash position and forecast, ensuring adequate cash-on-hand, and managing banking relationship.♦ Oversaw risk management and insurance policy portfolio including working with business broker to communicate changes in business operations with implications for insurance coverages and making changes where necessary.♦ Supervised facilities and information technology including corporate headquarters relocation, IT equipment acquisition, electronic file storage and access, internet access and cybersecurity.

PrimaPharma was a Contract Development and Manufacturing Organization ("CDMO"​) manufacturing prescription and over-the-counter drugs, medical devices, and clinical trial materials. Among other products, the company manufactured ophthalmic drugs and medical devices for the commercial market, which understandably placed the company among the most regulated manufacturers in the world.An important part of my role as CFO was promoting the balance between the investments required for regulatory compliance (“Current Good Manufacturing Practices” or "cGMPs") with business demands like growth and profitability. Theoretically, there is no limit to the pursuit of quality, while business sustainability has clearly defined requirements. Serving as an advocate for business requirements, working to maintain a balance between sound and logical cGMP compliance and business sustainability, is an important part of the CFO role in pharmaceutical manufacturing companies.Below is a partial list of my responsibilities and accomplishments throughout my six years as PrimaPharma's CFO:♦ Consolidated manufacturing facilities to reduce manufacturing overhead by 70% and restore positive cash flow.♦ Responsible for financial reporting to the Board and external stakeholders, maintaining near-term (13-week) and long-term (five-year) projection of P&Ls, Balance Sheets, and Statements of Cash Flow, and financial planning and analysis.♦ Managed relationships with lender, banks and investors.♦ Managed treasury activities including forecasting working capital requirements based on business forecasts and projected balance sheet metrics (DSO, DPO).♦ Managed balance sheet restructuring (2015) and transfer of assets, contracts and employees to new corporate entity.♦ Hired and trained a Controller and Supply Chain Manager to assume responsibilities.

Background¯¯¯¯¯¯¯¯¯¯In recent years, PrimaPharma had been an increasingly successful organization with a number of growth initiatives underway. However, when I joined the company in 2010, it had made considerable investments in a larger, nearby facility to which it planned to move its operations. After an unfavorable regulatory audit of the new facility, an effort was underway to raise additional capital to address the numerous cGMP and other issues that had been identified there. Meanwhile, the company’s existing plant had experienced increasingly negative FDA audits, and had received a FDA Warning Letter in 2008.Situation/Resolution¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯Upon joining PrimaPharma, I immediately worked to create a consensus to vacate the new facility and discontinue the capital raising effort to save it. The decision was hard, but it allowed the company to refocus on its original facility, which was in an increasing state of disrepair and non-cGMP compliance. During the next few years, I played an important role in implementing systems and controls at PrimaPharma to reestablish the company's cGMP compliance, and its reputation with regulators. My cGMP related contribution to the business was primarily in the area of supply chain management and systems/SOPs related to inventory control.PrimaPharma's reorganization was punctuated by the completion of a balance sheet restructuring which was finalized on June 30, 2015.

Management services provider that delivered hands-on results in the areas of corporate financial planning, operational analysis/restructuring, portfolio company oversight, growth management and turnaround management.♦ Worked with businesses in diverse industries taking on a wide range of assignments and responsibilities.♦ Assumed a leadership role with client companies where necessary to instill confidence in a growth or turnaround plan and to communicate progress.♦ Sourced and structured corporate transactions as an independent financial sponsor.Clients Included:• High Quality Organics, LLC (food manufacturer): created by 2009 merger of Great Spice Company ("GSC") and Herb Trade. 2005-2010 provided GSC with corporate financial leadership, supply chain guidance, human resources, merger consolidation and integration, ERP system implementation (Syspro), consumer packaged goods guidance (CPG), Retail Supply Agreements (Kroger Albertsons), bulk and retail pricing.• Eureka Specialties, Inc. (food manufacturer): performance monitoring/reporting, cost accounting, and strategic planning, distribution agreements• EXX, Inc. (industrial holding company): buy-side investment banking, capital raising, transaction structuring.

Wyndcrest Holdings, LLC was a family-sponsored private equity investment office focused on control investments in consumer goods, e-commerce and entertainment companies.♦ Initiated processes and procedures to formalize Wyndcrest's post-acquisition management program.♦ Worked closely with portfolio company management teams to develop monthly reporting packages, weekly email performance snapshots, and Key Performance Indicator metrics.♦ Assisted portfolio companies with treasury management activities including lender relations where applicable, financial statement and cash forecasting, and liquidity management.♦ Developed Information Memorandums on portfolio companies for lenders, investors and target acquisitions.♦ Served as interim CEO or CFO of troubled portfolio companies as needed.

Background¯¯¯¯¯¯¯¯¯¯BabyUniverse was a Wyndcrest Holdings portfolio company, and one of the largest Internet retailers of baby related equipment and furnishings during the late 1990s and 2000s.Situation/Resolution¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯I was named CEO of BabyUniverse by Wyndcrest to reestablish leadership and control after the company's former CEO was terminated. BabyUniverse had a cash flow crisis primarily relating to the effectiveness of its considerable Internet advertising expenses. After a prompt review of the company's operations, I discovered the company had never accessed or analyzed its historical online order data, which would allow a ROI analysis on every order referral source (cost-per-click keyword search, banner ad, etc.).I then led an analysis of this historical data, which resulted in an optimization of ROI for each order referral source. Then I contacted the company’s primary advertising partners (MSN, Yahoo!, AOL and Google) with this information. This restored their confidence in the management of the company and its future, which allowed me to renegotiate the company's outstanding balances due under its advertising contracts, and even raise the company to a higher level of advertising placement. This resulted in a dramatic turnaround in revenue and cash flow during 2001.I successfully transitioned the CEO role to the company’s founder in 2002. BabyUniverse was eventually acquired by Toys"R"Us, Inc. in 2009 via its acquisition of eToys.com.

Background¯¯¯¯¯¯¯¯¯¯Sims Snowboards ("Sims") was a Wyndcrest Holdings portfolio company, and was the licensee of the namesake brand of snowboarding pioneer Tom Sims. Sims designed, marketed and distributed SIMS® branded snowboarding equipment and apparel.Situation/Resolution¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯I was temporarily relocated to California by Wyndcrest to be CFO of Sims Snowboards and provide leadership to the company after its former CEO/CFO resigned abruptly. Alongside a new CEO, we consolidated Sims’ operations to a facility in Oceanside, CA by relocating the company’s headquarters from Santa Monica, CA and closing a distribution facility in West Palm Beach, FL.During this time, I represented the company in negotiations with its senior lender’s workout team. I also negotiated with Sims’ suppliers in Europe and Asia, who had manufactured SIMS® brand snowboards and gear for the 2000-2001 snow season, but were not confident they would be paid. I was able to arrange for partial shipments of product, and ultimately obtained the necessary financing in order to avoid missing a winter selling season and seriously damaging Sims’ relationships with its core independent retailer accounts.Ownership of the SIMS® trademark/brand was sold successfully in 2001. After changing hands several times, the trademark is now owned by an entity controlled by Tom Sims' widow Hilary Sims. The snowboards are now proudly manufactured in the USA by Never Summer Industries in Denver, CO - and continue to be sold worldwide.

Responsible for completing corporate transactions and conducting post-acquisition management for MapleWood Partners LP, a private equity firm focused on middle-market leveraged buyouts.♦ Performed due diligence and worked with teams to execute leveraged acquisitions of 30+ platform and add-on acquisitions in the manufacturing, business services and distribution industries.♦ Developed proprietary financial model to project complete financial statements and borrowing base on an annual and intra-year basis, estimate potential returns on investment, and forecast capital requirements given growth, seasonal trends, and planned capital expenditures.♦ Produced presentation and materials for Investment Committee meetings.♦ Developed optimal portfolio company transaction structures including senior credit lines (asset-based facilities and term loans), mezzanine debt, sale/leaseback of owned real estate, and preferred/common equity.♦ Worked closely with portfolio company management teams to develop monthly reporting packages, weekly email performance snapshots, and Key Performance Indicator metrics.♦ Assisted portfolio company management with treasury management activities including lender relations, efficient generation of borrowing base certificates, financial statement and cash forecasting, and liquidity management.♦ Assisted in the preparation of portfolio company Board packages and participated in Board meetings.

Master Of Business Administration (M.B.A.), Finance, General

Bachelor Of Arts (B.S.) - Summa Cum Laude, Finance And Economics Double Major