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<br /> <br /> <br /> <br /> STEVEN J. PIWNICA, p. 2 <br /> <br /> Finance Manger and CFO 1998 to 1999 <br /> Cosmotronic Corporation, Irvine, CA <br /> $12 million printed circuit board manufacturer owned by investment group. <br /> Responsible for financial management of company in preparation for IPO. <br /> • Implemented sophisticated accounting systems and company-wide networking capabilities. <br /> • Created all financial reporting systems, budgeting processes and cash controls. <br /> • Team leader for the development of a new order entry and factory planning system. <br /> <br /> Vice President Finance and Administration 1995 to 1998 <br /> E.T.C. Carpet Mills, Santa Ana, CA <br /> Privately-held carpet manufacturer with three locations and annual revenues of $36 million. <br /> Responsible for financial, accounting, MIS, legal and contract functions together with production <br /> planning, distribution and customer service. <br /> • Stabilized operations and positioned the company for a change in ownership. <br /> • Break-even monthly sales level lowered from $3.2 million to $2.5 million through an intense <br /> cost reduction effort covering every aspect of operations. <br /> • Bank debt cut 50% or $2.4 million through the reduction of inventories, improvement in <br /> collections and elimination of non-essential spending. <br /> • Completed full strategic and operational review with recommendations for repositioning the <br /> company. <br /> • Completed acquisition of another carpet mill company. <br /> • De-factored credit and collections to improve customer service and increase cash flow. <br /> <br /> Senior Vice President and Treasurer 1990 to 1995 <br /> Tuftex Industries, Santa Fe Springs, CA <br /> Privately-held carpet manufacturer with revenues of $170 million and yarn mill with revenues of <br /> $60 million. Responsible for all financial, accounting, legal, factory scheduling, inventory planning <br /> and maquiladora operations. <br /> • Negotiated the sale of Tuftex Industries to Queen Carpet and supervised the merger of after-sale <br /> operations. <br /> • Added $8.5 million in value to the sale of Tuftex Industries through a combination of strong <br /> analysis, tough negotiations and smart tax strategies. <br /> • Consolidated functions and simplified administrative procedures while strengthening internal <br /> controls and improving office productivity; generated salary savings of over $1MM. <br /> <br /> • Introduced new employee benefits program that reduced costs by over $700,000 annually. <br /> <br /> Vice President, Controller 1986 to 1990 <br /> R & G Sloane Manufacturing Company, Sun Valley, CA <br /> Injection molding manufacturer of plastic valve and piping systems with annual sales of $80 <br /> million. Responsible for all financial, accounting, and legal Rinetions, including maquiladora <br /> operations. <br /> • Designed new analytical methods and reporting systems for accounting, marketing and <br /> production. <br /> • Successfully resolved bad debt totaling $2 million. <br /> • Designed and implemented a capacity model and shop floor data collection system to define <br /> production capacity and measure factory efficiency. <br /> <br /> 13A-22 <br />