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Citel Technologies, Inc.
Mr. Orse advised
Citel Technologies, Inc.,
a global provider of IP telephony and communications solutions, on the
acquisition of the assets of MCK Communications, Inc. Mr. Orse worked
closely with the Citel CEO, CFO and Board of Directors in the Due Diligence,
Transition and Integration phases of the acquisition. Mr. Orse oversaw the
Due Diligence phase including negotiating final closing price.
Additionally, Mr. Orse advised Citel on the plan needed to seamlessly
transition the MCK operations. In addition to the Citel management team,
Mr. Orse worked closely with Citel and MCK outside Counsel and the
MCK management team. See Citel
press release
for additional details.
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Metaplay, Inc.
Mr. Orse has worked since inception with
Metaplay, Inc., a
developer/publisher of games for mobile devices. Mr. Orse first became
involved as an advisor focusing on finance and accounting needs and has more
recently been involved with CFO type activities and investing. Mr. Orse works
closely with the CEO and other investors on the strategic direction of the
company as well as fund raising.
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Wade Cook Financial Corporation
Mr. Orse worked as the CFO/COO for the Trustee
of Wade Cook Financial Corporation during the Chapter 11 bankruptcy of
this publicly traded seminar/book publishing/real estate entity. This
engagement involved shutting down operations, selling off businesses and
assets, as well as managing the day-to-day operations of the various
entities involved in the case.
Mr. Orse was hired by the Trustee of this case as
her CFO/COO during the evaluation of the reorganization viability of the
company. On a day-to-day basis, Mr. Orse worked with the company and the
Trustee to continue to operate the company for 60 days as the
reorganization evaluation was completed. After 60 days it was determined
the entity could not survive, so Mr. Orse began the process of unwinding
the various entities involved and putting in place a plan to return as
much money as possible to the various creditors. The plan of liquidation
included 11 subsidiaries in businesses that included real estate
development, book publishing, travel agency, venture capital investing,
seminar fulfillment, and other investment related activities.
Mr. Orse's activity included selling customer
lists, real estate property, furniture and fixtures, computer equipment, a
publishing company, inventory, vehicles, and investments in private
companies. In addition, Mr. Orse worked on closing legal entities,
winding up company activities, and managing the custodial needs of the
estate.
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Blue Frog Mobile, LLC
Mr. Orse has worked since inception with Blue
Frog Mobile, LLC, a marketer of mobile content. Mr. Orse first became
involved as an advisor focusing on finance and accounting needs. Mr. Orse
works closely with the CEO and other investors on the strategic direction
of the company as well as fund raising.
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Edge2net, Inc.
Mr. Orse worked with edge2net, Inc., an
international telecommunications company with annual revenue of $150m and
13 international subsidiaries, as Interim Chief Financial Officer. Mr.
Orse was also the officer in charge of the Chapter 11 bankruptcy phase
including administering of the Chapter 11, closing of operations, selling
off operating assets, liquidating fixed assets, and collecting of accounts
receivable.
Mr. Orse was hired as interim CFO of edge2net,
Inc., while the company was in the midst of attempting to raise additional
funding during the telecommunications meltdown of 2001. As the company was
unable to complete financing after 9/11, it was determined the company
would have to file bankruptcy at which point, all the officers and board
members resigned and Mr. Orse was appointed officer in charge during the
Bankruptcy.
Mr. Orse reduced staff and focused on collecting
accounts receivable and liquidating assets that resided around the world.
With telecommunications switches in Hong Kong, London, LA and NY and other
telecommunications equipment in other countries, Mr. Orse coordinated with
court approval the liquidation of the assets globally. In addition, Mr.
Orse negotiated with global telecommunications companies on the collection
of accounts receivable and was able to collect $10m in cash post-petition
to the benefit of the creditors. Also, Mr. Orse facilitated the winding
down of entities in Japan, UK, Singapore, Korea, Malaysia, Australia, and
China.
Mr. Orse moved the bankrupt estate towards a
Trustee who was appointed and continued to work for the trustee during the
Chapter 7 stage which included final collection of accounts, preference
work and claims analysis as well as other administrative tasks involved
with the bankruptcy court and US Trustee.
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Seanet Corporation
Mr. Orse has performed numerous projects for
Seanet Corporation, an internet service provider. These projects
include bookkeeping, company valuation and other consulting analyses.
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Digital Forest, Inc.
Mr. Orse advises Digital Forest, Inc.,
a web hosting company. As an investor, Orse & Company provides advice on
acquisitions and other strategic decisions.
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GlobalTel Resources, Inc.
Mr. Orse worked as interim CFO for Globaltel Resources, Inc., an
international telecommunications company. His role in this engagement was
to prepare the company for an IPO including filing the S-1 document with
the SEC, responding to comments from the SEC, NASD and AMEX regarding the
S-1 and preparing the finance group for public standards. In addition,
Mr. Orse was the primary liaison between the investment bankers,
accountants and attorneys during the S-1 process.
Mr. Orse helped GlobalTel Resources, Inc. eventually sell off the assets
of the company to a competitor after the IPO market slowed down and the
company was unable to go public. Mr. Orse was responsible for the day to
day financial, legal and human resource functions in this $15m per year
business.
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eCharge Corporation
Mr. Orse worked as interim CFO and Director of
Finance for eCharge Corporation, an online ecommerce company. Mr.
Orse was engaged part-time at the inception of operations for eCharge and
then fulltime and was instrumental in helping raise $72m in private
financing and growing the accounting/finance/legal/HR groups during his
tenure.
In acting as CFO, Mr. Orse negotiated billing
agreements with various telecommunications companies domestically and
internationally including AT&T, Cable & Wireless, Telia, Telus, and other
Domestic carriers. In addition, Mr. Orse helped negotiate and build a
virtual credit card product with EDS.
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FreeI Networks, Inc.
Mr. Orse worked as interim CFO for this Free
Internet Service Provider as well as officer in charge during the
bankruptcy phase. This engagement included winding down the company and
helping payoff secured creditors. Mr. Orse was instrumental in operating
the company during the Chapter 11 period and facilitating the transition
to Chapter 7.
During the Chapter 11 phase, Mr. Orse negotiated
the sale and transition of the company's customer base to the buyer as
well as securing a debtor in possession line of credit with Cisco
Systems, Inc. Mr. Orse was involved in various litigation with creditors
and stakeholders. Additionally, Mr. Orse was in charge of the company's
auction of over 60,000 square feet of furniture and equipment. Also
included in the tasks in this case was reporting and meeting with US
Trustees office.
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Bit Learning, Inc.
Mr. Orse worked as interim CFO for this on-line
learning company during the concept stage. Mr. Orse helped raise $2.1m in
a series A round. In addition, Mr. Orse help lay the foundation for the
accounting and finance department as well as defining the economics for
the business model.
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PAR 3 Communications, Inc.
Mr. Orse advised PAR 3 Communications, Inc.(PAR 3),
the leading provider of enterprise customer communication solutions enabling
dynamic conversations between companies and the customers they serve, on the
acquisition of Envoy World Wide, Inc.(EWW) Mr. Orse worked closely with
the PAR3 CEO and CFO in the Due Diligence, Transition and Integration phases
of the acquisition. Mr. Orse oversaw the Due Diligence phase including
working with PAR 3 management, EWW management, Price Waterhouse Coopers
(PAR 3 auditors), and Heller Ehrman(PAR 3 Counsel). Mr. Orse helped in
transitioning various aspects of the two businesses operations, finance,
and accounting functions before and after closing of the transaction. Mr.
Orse oversaw integration of the two companies business plans and financial
models. In addition, Mr. Orse worked closely with Strategic Value Group
on the independent valuation of EWW prior to the transaction and the
consolidated entity subsequent to the transaction. For additional details
on the transaction see the press release at
www.PAR3.com
