The company’s founder successfully obtained a significant judgment against the company at a time when they were already facing significant cash flow shortages due to declining sales as a result of the protracted litigation.
The limited working capital resulted in significant delinquencies in payments to critical vendors causing a decrease in inventory for sale.
Following the resignation of the company’s Chief Financial Officer, Broadway Advisors was retained to act as the Interim CFO responsible for stabilizing company operations, restoring profitability and ensuring its ability to make the required litigation payments.
Mr. Masse successfully stabilized the company’s organizational structure, creating an environment focused on re-building sales and expanding product lines, rather than on the litigation and internal turmoil that had consumed the company for the better part of the prior year.
Working in conjunction with the company’s CEO, he was able to resolve the regulatory issues. In addition, he was able to negotiate revised payment plans and future payment terms that would allow the company to make its litigation payments while continuing to increase sales.
Once the company was returned to profitability, Broadway Advisors assisted in recruiting and hiring a new permanent Chief Operating Officer.