John Skolas Email & Phone Number

Conshohocken, PA

Premier turnaround and crisis management firm focused on middle market. Also provides services regarding distressed businesses to creditors and lenders, and M&A/refinancing services to such businesses. Fiduciary services including Plan Administrator, Liquidating Trustee, Assignee for Benefit of Creditors. Litigation consulting/expert testimony.

Working with companies in transition entrepreneurs and new business models – we draw on broad financial, legal, intellectual property and industry experience to achieve best outcomes – even in difficult situations. With the Genaera liquidation virtually done we are open to new opportunities to realize value for stockholders from distressed assets. In the.

• Medical imaging start-up (Q4-07 to present): Acting CFO, strategy, modeling, financing, licensing, agreements, operations.
• Genaera Corporation (Q2-08 to present) – advising on license and intellectual property matters.
• Cobbs Creek Healthcare (Q4-08 to present) – Modeling/research for big pharma company to forecast impact of recession.
• Polymer manufacturing company (Q4-07): Evaluating Australian opportunity – Research and financial modeling,
• NYC new media company (Q3/Q4,-07) Brought in by VC/Board to stabilize financial situation – Immediately addressed internal financial metrics & cash forecasts – developed contribution analyses and business line P&Ls..

• R&D boutique transitioned into drug developer in Phase II, Phase III trialsBroad role in transition: Direct reports included Finance, Legal, IT, Patents, Facilities, IR/PR, HR
• In first 90 days: - Improved and formalized cash forecasts - Resolved personnel issue and cross trained accounting staff - Closed two registered direct offerings ($28.5mm)
• Mentored promising staff. Upgraded internal and external financial reporting. SOX 404 compliance
• Closed total of five financings ($92.5mm)
• Led response to SEC comments: S-3, 10-K.
• 100s of meetings/calls with analysts and investors with CEO and alone

Provided management of finance and legal matters, supported financing transactions, completed merger of client company into acquiror. Served as acting CFO for multiple early stage start ups

• 160 person genomics/gene repair company operating in three countries following three company merger in 2000 Recruited to lead accounting, finance, treasury, IT, legal, IR and PR functions in anticipation of IPO.
• In first 90 days: - Focused on cash flow forecasting. Wrote combined company’s first budget. - Developed and implemented successful defense to existential legal threat - Repositioned message to investors. Drove.
• Coached staff through rollout of accounting system and WAN across operations in Pennsylvania, California, Berlin and Paris
• Developed restructuring plan to reduce staff and cash burn by 45%
• Secured bank loan commitment in cash crisis. Restructured facility lease to defer >$600K.Closed 7 figure biotech collaborator’s investment. Managed diligence and contracts for equity round and proposed merger.
• Following 9/11 equity markets downturn & collapse of merger talks -- shut down US operations

• Combinatorial chemistry company transitioned from R&D start up to operating company. Merged into Lexicon Genetics as its pharmaceuticals divisionJoined 4 hours before CEO announced departure - 6 months before new CEO
• In 1st ~90 days: - Wrote new budget, hired interim controller, put cash forecasting on track – hired new controller. - Put multi-million-dollar lab build-out back on budget and on time. - Reviewed business, addressed.
• In 1st 180-220 days: - With COO negotiated & closed library sales with major pharmacy companies, - Established new accounting function and controls; set up and managed HR function. - Mentored young managers throughout.
• Actively facilitated new CEO’s transition to company and equity raising process
• Negotiated and closed: i) Equipment financing; ii) Credit facility; and iii) Venture capital round.
• Led selection process and recommended investment bank that closed merger

• Biotech company remediating environmental contamination with genetically modified and naturally occurring plants.
• Immediately negotiated license to acquire core technology and rewrote business plan
• Guided CEO in negotiations with investors and licensors as well as valuation, contracts, raising capital, and operations. Extensive modeling; settled shareholder dispute

• Continued as officer and general counsel of an EMI GROUP holding company. Negotiated and closed sale of California factory, set up credit facilities, and resolved contractual issues from divestitures. Advised on patent.
• Advisor to software start-up on international ownership, capital structure issues, reseller agreements and projections.

• Led shared services subsidiary w. 25 person staff: treasury, legal, tax, M&A, coordinated US restructurings
• Co-negotiated 7 divestitures; major roles closing ~25 acquisitions/divestitures
• Consolidated 3 corporate offices in 3 time zones into 1 new Delaware office reducing costs 30%
• Mentored staff through process upgrade, e.g. Took out >$5mm cash float in 1 division
• Closed >$1B debt (> 20 deals $20mm to $200mm+), e.g. Rule 144A; $200+ mm self-syndicated facility
• Closed equipment leases for manufacturing equipment, aircraft

• First employee of subsidiary created to restructure treasury, M&A, tax, legal functions dispersed in US and to coordinate M&A and divestiture efforts
• In 1st 90-120 days: - Joined deal team for $300mm acquisition; Managed due diligence of proposed $130mm acquisition - Pivotal role to retain semiconductor patents on sale of Inmos – ultimately worth $240mm in royalties.
• Oversaw shutdown of failing software subsidiary and divestiture of related assets
• Negotiated credit facilities and Rule 144A debt placements for > $250mm
• Managed US insurance program
• Managed litigation retained from divestitures,.e.g. took on case lost at trial settled for 50% ($4mm) of trial court judgment

Built business focused law practice in Wisconsin: corporate legal work in real estate, manufacturing, hospitality, advertising and media industries. Represented clients in formation, purchases and sales of businesses, financing, limited partnerships, taxation, bankruptcy (debtor & creditor), corporations.Earlier employment also included Coopers & Lybrand.

Mba, Business

Jd, Law

Ba, Economics, Accounting