Tom Pratt has been named to the Board of Directors for Toledo Solar, Inc. (“TSI”). Mr. Pratt, in his capacity as Interim CEO, President, Treasurer and Secretary has been leading TSI through a restructuring since early July, 2023. TSI is an early-stage manufacturer of state-of-the-art American Made Cadmium Telluride solar modules for the residential, commercial, and industrial markets.
Applied Business Strategy has recently completed two more valuation projects for bonding purposes in connection with General Assignments for the Benefit of Creditors (“ABCs”) that have been filed in the Court of Chancery of the State of Delaware. The companies consisted of an early-stage research and development company in the biotechnology sector and a company specializing in transfusable blood services. ABS determined the value of various assets, including accounts receivable, deposits, prepaid expenses, supplies inventory, and fixed assets for these ABCs.
Tom Pratt, Managing Director of Applied Business Strategy LLC, has been appointed interim President, Treasurer, and Secretary by Toldeo Solar Inc.’s Board of Directors.
Along with lead investor, Sean Fontenot, the Board’s new Chairman, Tom Pratt will oversee daily operations.
Toledo Solar manufactures state-of-the-art Cadmium Telluride solar modules for the residential, commercial, and industrial markets.
An Applied Business Strategy professional has been engaged by a private equity backed international tier one and aftermarket producer of components for the heavy truck and trailer markets as interim Chief Financial Officer. ABS’s engagement was the result of an untimely departure of the prior Chief Financial Officer.
The Federal Reserve Bank of St. Louis recently published two articles which happened to catch our interest. The first is with respect to the labor market. In one graph, the inflationary pressure we are experiencing is well displayed. The graph in essence shows the disparity, over time, between labor supply and demand at: “Are labor supply and labor demand out of balance? | FRED Blog (stlouisfed.org)”. The imbalance (workers required) stands at 4.7 million. It will be interesting to see how the interest rates are impacted as the Fed balances the recent banking crises and labor driven inflation. Also, we thought the overview of the business cycle was of interest as well All About the Business Cycle: Where Do Recessions Come From? | St. Louis Fed (stlouisfed.org).
Applied Business Strategy of Cleveland (ABS) provides valuations in distressed situations. Recently, ABS completed valuation projects in connection with General Assignments for the Benefit of Creditors (ABCs) filed in the Court of Chancery of the State of Delaware. ABS determined the value of various assets, including accounts receivable, deposits, inventory, fixed assets, and software (for bonding purposes) in three separate matters involving a biotechnology start-up, video-conferencing company, and medical device manufacturer.
Tom Pratt has recently been named Agent and Collateral Agent for Kasper Holdings LLC, dba Tradefull, involving two separate debt based capital raises. In his role, Mr. Pratt helped negotiate an inter-creditor agreement and acts as collateral agent for the Secured Creditors pursuant to the security documents.
Tradefull provides outsourced e-commerce solutions using proprietary technology and services to help e-commerce companies drive revenue, save money, and make logistics more streamlined and efficient.
Defendants in a commercial litigation matter enlisted Applied Business Strategy of Cleveland (ABS) and John Stark to assist in a response to Plaintiff allegations of breach of contract, fraud, unjust enrichment and other allegations, which resulted in alleged damages. ABS prepared a rebuttal report to assist counsel in providing questions and exhibits for deposition and cross-examination of the Plaintiff’s expert. The case went to trial. With John Stark’s testimony and presented evidence, ABS’s client prevailed, winning a defense verdict from the jury.
A medical device and service company engaged John Stark and Applied Business Strategy of Cleveland (ABS) in connection with a shareholder dispute. ABS performed a forensic analysis, examining certain disbursements during periods before and after the sale of the company, and tracing receipts and distributions of the sale proceeds.
ABS recently completed a forensic investigation for a Cleveland based house of worship. The ABS forensic team uncovered numerous unauthorized transactions of a suspicious nature. Included in the transactions were several payments that had the appearance of self-dealing. Tom Pratt led the team of investigators and authored a report for the board of directors which included several recommendations for strengthening internal controls and processes to avoid similar transactions being conducted in the future.