TRACY SEWARD CPA Tracy Seward has over 20 years of financial accounting experience obtained through a diverse range of industry and senior management experience. He is a team leader devoted to creating value while positively impacting financial results, with a reputation for excellent management and financial modeling skills. He is known for his dedication, hard work and an ability to see the big picture. Tracy resides in Vancouver and is married with 2 children. He considers himself as a strategic entrepreneurial thinker with financial expertise. DECEMBER 2015 PAGE 1
SEWARD CONSULTING OCTOBER 2012-PRESENT CONSULTANT/ENTREPRENEUR Tracy founded Seward Consulting in 2012, his company provides management and financial advisory for new and growing businesses. Highlights of his consulting include: Being hired as a Contract CFO for a local bio-technology company. Tracy worked closely with the companies CEO in order to raise 7 million dollars in private equity funding. Co-founding Yesco B.C., a lighting repair and maintenance franchise. Tracy provided advisory support for franchise expansion into Western Canada. Providing business advisory and financial model development services for companies in film production and distribution, fleet management industries and for SaaS (Software as a service.) INCA NETWORKS OCTOBER 2015-PRESENT VP FINANCE & OPERATIONS MAY 2014-SEPT 2015 CONSULTING ENGAGEMENT Inca Networks is a privately owned technology company that designs and manufactures high-performance video delivery solutions for operators world-wide. Inca s intelligent video architecture is powering the multiscreen video revolution. As a consultant Tracy provided financial support for a private M&A transaction by developing financial projections, establishing monthly financial reporting requirements, and building the due diligence package. While playing a role in the day-to-day operations of the company, he also played a key role in managing and responding to interested party requests and due diligence queries. Tracy played a key role in the successful sale of the company to a German Multi-National, and after the sale DECEMBER 2015 PAGE 2
was retained as the VP of Finance and Operations to manage the transition and execute on the North American growth plan. As the VP of Finance and Operations Tracy plays a key role in developing and managing the execution of the Company s strategic plan. He established an operational and reporting relationship with the parent company in Germany, with monthly reporting packages being converted to German GAAP. In this expansive role, Tracy also oversees procurement, manufacturing, assembly and fulfillment operations. To learn more visit http://www.incanetworks.com SUTUS 2010-2012 CFO 2004-2010 VP OF FINANCE Sutus was a privately funded technology company that developed and manufactured Sutus Business Central, a fully integrated multi services router delivering enterprise quality data, voice and hosted services tools to small business. As the Finance VP Tracy was responsible for all financial and administrative activities. This includes the establishment and delivery of timely and accurate financial reporting to all key stakeholders, development of financial models and forecasting tools to evaluate business objectives. Tracy also managed all cash flow activities and the development, maintenance and enforcement of internal controls and procedures to protect the assets of the organization. Successes include working closely with the executive team to grow revenues from $200 thousand to $2.8 million in 3 years. As the VP of Finance Tracy was largely responsible for raising, negotiating and closing a total of $20 million of equity financing with multi party venture capital firms and strategic partners. DECEMBER 2015 PAGE 3
While the company searched for an industry specific CEO Tracy was appointed Co-CEO, during that time he enhanced the company s financial stability by securing $5 million of additional equity financing and $2.5 million of debt financing. In 2009 he executed complete financial restructuring of the company requiring shareholder and key stakeholder approval. Tracy dramatically improved working capital by successfully filing and receiving over $3 million in SR&ED claims and establishing a $1.25 million line of credit with banking partners. SEANCE SOFTWARE INC. OCTOBER 2003-OCTOBER 2004 VP OF FINANCE Séance Software Inc. was a development company focusing on collaboration tools for the enterprise market. As the VP of finance and key member of the management team Tracy was responsible for all financial and administrative activities. Successes include significantly improving financial projection capabilities by developing a fully integrated financial forecasting model and providing a more accurate assessment of the company s future earnings and cash flow requirements. Tracy improved management reporting information by instituting and implementing annual budgeting procedures, and establishing monthly reporting procedures. These achievements assisted in providing a more accurate assessment of the company s financial position and enabled management to make informed decisions. Tracy was also instrumental in completing an orderly wind-down of the company s operations by managing the termination of all employees, disposing of all capital assets, negotiating out of contractual obligations, concluding all corporate affairs, and successfully completing the company s final SR&ED claim. These activities directly resulted in a $400 thousand cash distribution to the preferred shareholders. DECEMBER 2015 PAGE 4
INTERNATIONAL KEYSTONE ENTERTAINMENT INC. 1998-2003 FINANCIAL CONTROLLER 1996-1998 CORPORATE ACCOUNTANT International Keystone Entertainment was a publicly traded, fully integrated, development, production, post-production and international distribution company. Taken private in 2005, Keystone specializes in family oriented live-action theatrical films, with offices in Vancouver and Malibu. Keystone achieved $15 million in annual revenue during Tracy s tenure. As Financial Controller Tracy directed Vancouver corporate and post-production operations. With a staff of 6 he directed and managed all financial and accounting functions, regulatory reporting compliance, human resources, information technology, and investor relations activities. Tracy also negotiated a $2 million revolving asset-based line, which significantly improved the company s ability to maximize the cash value of certain assets and generate working capital. Tracy was a contributor in the negotiation, review and approval of multi-million dollar financial structures for large production projects with multiple partners and financial institutions. He managed all financial activities associated with production projects including cash and loan management, cost reporting, tax credit filings and production audits. Successes include assisting in the increase of operating capital through the marketing and closing of equity financings totaling $9 million with multi party venture capital funds. This allowed the company to independently distribute its product within the North American markets. DECEMBER 2015 PAGE 5
EDUCATION CERTIFIED GENERAL ACCOUNTANTS ASSOCIATION OF BRITISH COLUMBIA 2000 CERTIFIED GENERAL ACCOUNTANT BROCK UNIVERSITY 1989 BACHELOR OF BUSINESS ECONOMICS DECEMBER 2015 PAGE 6