Mr. Walters has served as a Director since April 2009 and as Chief Executive Officer since August 2009. Mr. Walters is a founder and principal of Cardiff Partners, LLC and Monarch Bay Associates, LLC (“Monarch Bay”), and has extensive experience in investment management, corporate growth development strategies and capital markets. From 1992 through 2000, he was an executive vice president and managing director in charge of capital markets for Roth Capital (formerly Cruttenden Roth), were he managed the capital markets group and led over 100 financings (public and private), raising over $2 billion in growth capital. Additionally, Mr. Walters oversaw a research department that covered over 100 public companies, and was responsible for the syndication, distribution and after-market trading of the public offerings. From 1992 through 2000, he managed the public offerings for Cruttenden Roth, which was the most prolific public underwriter in the U.S. for deals whose post-offering market cap was less than $100 million. Mr. Walters sat on Roth's Board of Directors from 1994 through 2000. Previously, he was a vice president for both Drexel Burnham Lambert and Donaldson Lufkin and Jenrette in Los Angeles, and he ran a private equity investment fund. Mr. Walters earned a B.S. in Bioengineering from the University of California, San Diego. Mr. Walters also serves as Chairman of the Board of Directors and Chief Executive of Monarch Staffing, Inc. and STI Group, Inc., and a member of the Board of Directors of Precision Aerospace Components, Inc. and Trans-Pacific Aerospace Company, Inc.
All officers serve until their successors are duly elected and qualified or their earlier death, disability or removal from office.
DAVID WALTERS – SEE ABOVE
Mr. Szot has served as our Chief Financial Officer, Secretary and Treasurer since January 2009. Mr. Szot has significant experience in financial implementation processes, mergers and acquisitions, financial valuation and public company SEC reporting and compliance. Since February 2007, Mr. Szot has served as the Chief Financial Officer for Cardiff Partners, LLC, a strategic consulting company which provides executive financial services to various publicly traded and privately held companies. Prior thereto, from 2003 to 2006, Mr. Szot served as Chief Financial Officer and Secretary of Rip Curl, Inc., a market leader in wetsuit and action sports apparel products. From 1996 to 2003, Mr. Szot was a Certified Public Accountant with KPMG in the San Diego and Chicago offices and served as an Audit Manager for various publicly traded companies. Mr. Szot is on the Board of Directors of Secured Federal Funding Acquisition Corp. and also serves as Chief Financial Officer of S&W Seed Company, Inc. and Trans-Pacific Aerospace Company, Inc.. Mr. Szot graduated with High Honors from the University of Illinois, Champaign-Urbana, with a Bachelor of Science degree in Accounting and Agricultural Economics. Mr. Szot is a Certified Public Accountant in the State of California.
To the best of our knowledge, our officers and directors have neither been convicted in any criminal proceedings during the past five years nor are parties to any judicial or administrative proceeding during the last five years that resulted in a judgment, decree or final order enjoining then from future violations of, or prohibiting activities subject to, federal or state securities laws or a finding of any violation of federal or state securities laws or commodities laws. No bankruptcy petitions have been filed by or against any business or property of any of our directors or officers, nor has a bankruptcy petition been filed against a partnership or business association in which these persons were general partners or executive officers.
There are no family relationships among the directors and executive officers of Management Energy, Inc.
Organization of the Board of Directors
Our board of directors currently consists of one board member David Walters. All directors serve until the next annual meeting of the stockholders or until their respective successors are duly elected and qualified, or until their earlier death or removal from office. There have been no material changes to the procedures by which our stockholders may recommend nominees to our Board of Directors.
The board of directors has determined that Mr. Walters is not “independent” as such term is defined by the listing standards of Nasdaq and the rules of the SEC since he is a principal of Cardiff, a provider of consulting services to us and a principal of Monarch Bay, our placement agrent.