Rich Canote Email & Phone Number

Pleasanton, CA, US

Engine Room provides comprehensive finance and accounting support to the West Coast's smartest venture-backed life science and tech start-ups. Our work extends from detailed execution to CFO-caliber strategic guidance. We make sure every aspect of our client's financial organization is clearly structured, so they avoid critical mistakes, nail milestones.

Serve as CFO on a consulting basis, responsible for FP&A, accounting and advising on strategy.

Bring real-world skills and insight to clients and understand what’s required to get to the end zone on time-sensitive, critical projects while avoiding the pitfalls that burn time and money, which can delay the closing of critical funding and strategic transactions. Projects are completed on time, within budget, and meet the requirements and expectations.

Cody, Wyoming, US

• Served as fractional Chief Financial Officer, oversaw fundraising, corporate strategy, and partner discussions.
• Reviewed/revised product development timelines, and negotiated 50% reduction in cash burn with key vendors.
• Revised pitch decks, investor communications and presented to investor groups.

• Served as fractional Chief Financial Officer, engaged by Board to turnaround stalled startup.
• Focused on corporate strategy, operations, and fund raising.
• Drove development of budget and timeline required to solve technical challenge.

Tucson, Arizona, US

• Oversaw drafting and review of S1 registration statement, resulting in successful $50M IPO
• Partnered with CFO, interfaced with audit firm and legal counsel to complete required PCAOB audits.
• Advised on improving internal controls as required by Sarbanes-Oxley (SOX).

San Diego, California, US

Oversaw finance, accounting and SEC reporting. Interfaced with Board and strategic partners. Developed cost methodology for processed CBD products

Fargo, ND, US

• Engaged by Board to turnaround CRO in default on over $70M in debt.
• Developed forecast and performance metrics, presented to debt consortium resulting in credit extension.
• Responsbile for reporting financial performance to Board and lender consortium.

Vancouver, British Columbia, CA

• Retained by Board Chairman to review acquisition, subsequently named interim Chief Financial Officer.
• Restructured finance department, increasing accuracy of financial information and credibility of department.
• Reviewed technology portfolio and licensing strategy, partnered with Board and management to negotiate and revise agreements with partners and distributors resulting in the return of formerly licensed intellectual.
• Developed alternative strategy to forming international subsidiaries, resulting in an $1M in capital to be used in operations vs. invested offshore.

Westlake Village, California, US

Atlanta, GA, US

US

• Responsible for Treasury, IT, Finance and Facilities, instilling customer service focus in all departmental personnel.
• Oversaw due diligence during several private funding rounds in excess of $30M and other transactions negotiated, but never consummated.
• Responsible for FP&A activities, developed financial models to review multiple strategic alternatives, present alternatives and suggested course of action to the Board.
• Negotiated Bridge Financing to continue operations prior to closing additional private round.
• Negotiated contract service agreement resulting in savings of over 30% on large vendor contract, implemented incentive/penalty structure designed to incentivze vendor resulting in faster timeline to completion of.

US

• Established finance and operations functions for venture backed startup, including accounting,IT, HR and facilities. Hired and trained staff, instilling customer service mentality in all direct reports.
• Responsible for development and implementation of corporate policies and procedures.
• Oversaw due diligence for closing of Series A financing round from top tier venture capital firms

• Established corporate infrastructure including finance, facilities, HR and IT, hired and trained staff.
• Oversaw design and construction of 23,000 sf lab facility, completing construction in 93 days and 10% under budget. Responsible for securing facility and negotiated lease with national REIT.
• Responsible for establishing in-house review process and benefits plans, including annual review to insure Company offered plans competivie with similar companies.
• Active member of licensing team, responsible for negotiating licensing transactions valued at over $500M.
• Responsible for overseeing financial due diligence on corporate acquisition valued at over $200M.

• Initially served as Controller of publicly traded entitiy, responsible for both internal reporting of results to Board and investors and required SEC filings.
• Served on cross functional development teams to develop licensed products. Primary financial liaison with licensor responsible for reporting quarterly results and measuring to established budgets and timelines
• Responsible for FP&A activities, including preparation of financial models designed to measure alternative strateties and presentation of alternatives to the Board and management.

• Responsible for advising small privately-held corporations on both accouting and tax matters.
• Responsible for preparation of tax return, tax planning and annual financial statements.

• Responsible for advising major privately held real estate entities in both accouting and tax matters.
• Responsible for preparing annual audited financial statements, insuring adherence to GAAP for real estate limited partnerships.