Management

Grosvenor’s team includes experts and outside advisors who have exceptional experience in negotiating and executing rights offering rescue transactions.

Eric P. Evans, Senior Managing Director, has extensive experience in planning and executing rescue transactions using stock rights offerings, as well as turning around troubled companies. While employed by The Hallwood Group Incorporated (AMEX: HWG), Mr. Evans completed the rescue of six publicly traded, troubled companies through rights offerings raising $500 million. He has been employed as the Chief Restructuring Officer of two additional troubled companies and has completed multiple consulting assignments for other firms in similar situations.

Robert W. George II, Managing Director, executes Grosvenor’s strategy of providing support to worthy early stage microcap companies that seek financing and experienced direction in furthering their corporate missions. He has served as chairman, president and chief executive officer of many high technology companies—both public and private. Mr. George served as the CEO of privately held Internet Plus, Commerce Direct Systems, Imagineering International, Synectics Engineering, Denning Systems, among others. As well, he was CEO of publicly held Denning Mobile Robotics, during the heyday of the robotics revolution of the 1980s. Mr. George has extensive experience in planning and executing a wide array of financial transactions, in addition to strategic and tactical analysis. His background has included devising innovative financial structures for increasing sales through licensing and joint ventures. He has successfully raised $150 million for microcaps in a variety of markets and industries, and is highly regarded for his work in this area.

Ralph F. Hints, Vice President, Chief Financial Officer, has served as the chief financial officer of traditional, technology, and e-commerce startup enterprises, including Mortgage Service America, a national mortgage banking company purchased by General Motors in 1995. He recently completed a restructuring and workout assignment as president and chief financial officer of The Standard Companies, a national real estate services company.

David M. Hagen, Vice President, Business Asset Valuation, has 30 years experience in accounting, financial and operational consulting, and professional development activities for the accounting profession, focusing on business valuations and mergers and acquisitions. He co-authored Practitioners Publishing Company’s Guide to Mergers and Acquisitions and develops and updates all business valuation courses for the AICPA.

Dr. John J. Casey, Vice President, Strategic Planning and Tactical Operations, is an economics Ph.D. and management consultant whose assignments have involved strategic and tactical analysis, market definition, market planning, market analysis, organization realignment, venture planning and divestment, competitive analysis, system design, and system planning and acquisition. His clients have included IBM, NCR, AT&T, SPRINT, NYNEX, Prodigy and MCI.

Michael W. Courtney, Senior Financial Analyst, has held business planning, analysis, and forecasting positions with major companies including General Foods, Avis Rent-A-Car, and Ford.

Board of Advisors

Michael L. Davis, Director of Research, ran his own independent research group, M. L. Davis Financial Services, prior to his affiliating with Grosvenor in 2002. Mike’s clients included prominent hedge fund operators, as well as mutual fund managers in the Middle East. During this period he also was the CFO for Bravo! Foods International (OTCBB: BRVO), North Palm Beach, FL. From its inception in 1978 through 1989, he was the portfolio manager of the Merrill Lynch Special Value Fund (MASPX). Prior to that he was Assistant to the President, portfolio manger, and a member of the executive committee at the Anchor Group of mutual funds. Earlier, he managed money for the first U. S. public hedge fund, Hedge Fund of America, Dallas, TX. From 1965 through 1970, he was a mathematical consultant for Neuberger-Berman and the A.W. Jones hedge fund operations. He started in the finance business in 1959 as an analyst for The Value Line, working under its fabled founder, Arnold Bernhard.

David P. Stone is a partner at Weil, Gotshal & Manges LLP, a leading global law firm. He is a recognized expert in the field of underwritten rights offerings, both for rescues and funding corporate growth. His corporate law practice focuses on capital markets, mergers and acquisitions, and financial restructuring transactions.

Michael Metz served as the investment strategist and spokesman for Oppenheimer & Co. He was among the first to use computerized research techniques to screen public companies for undervalued and potential LBO situations. From l984 until 2002, he co-managed and managed a partnership for affluent investors focusing on undervalued companies.

Stanford Springel is a managing director at Alvarez & Marsal, a turnaround management consulting firm. He has served as CEO, COO, crisis manager and advisor to companies both in and outside of bankruptcy, and has served in CEO positions for publicly held U.S. Aggregates, Inc., Omega Environmental, Inc. and Riedel Environmental Technologies. He worked for General Electric earlier in his career.

Roger M. Kenny is the Managing Partner of Boardroom Consultants, a consulting firm on director selection, succession planning, top-level executive recruiting and other corporate governance issues for chief executive officers, board chairmen, and their boards. Previously, he was a Senior Vice President and Partner at Spencer Stuart. He is the co-author of E-Board Strategies: How to Survive and Win.

David A. Lynn has worked in sales and marketing positions for global leaders in telecommunications, office automation and information technology, including Nortel Networks and Xerox Corporation.

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