Michael Malesardi CPA

Direct the financial operations and serve as principal accounting officer of The Gladstone Companies and its affiliates including Gladstone Management, a registered investment adviser with $4 billion of assets under management; Gladstone Securities, a registered broker-dealer; Gladstone Administration, which provides accounting, tax, valuation, legal, compliance, and other services; Gladstone Acquisition (Nasdaq: GLEE), an agriculture-oriented SPAC with $107 million in trust; and, other domestic, Cayman and Bermuda family-office businesses of David Gladstone including a charitable foundation and a personal trust. Completed Form 1-A registration with the SEC of $50 million of senior secured bonds under Regulation A+.

Responsible for finance, accounting, and tax services for this development stage company that is a leader in accommodating IOL technology and winner of the 2021 Winning Pitch Challenge @ ASCRS 2021.

Riverbend Capital is an Angel Group that invests in early stage companies. We provide $100K-$300K to pre-Series A companies in the form of equity, convertible notes, or bridge rounds. We’re entrepreneurs, lawyers, doctors, executives, businessmen, technologists, real estate experts, and more. The members of Riverbend Capital are down to earth, friendly, and successful professionals that typically reside in Great Falls, Virginia just outside Washington, DC. We apply our broad skills to assist the companies we invest in, taking a helpful and engaging role to help drive success.

Liquidity Services (NASDAQ:LQDT) is a global solution provider in the reverse supply chain with the world’s largest marketplace for business surplus. Directed a team of 30+ employees in managing the internal and SEC reporting process, internal controls and accounting policy, and accounting operations of this public company. Key focuses include financial diligence and integration planning on an M&A transaction that closed in July 2018, providing guidance on their adoption of ASC 606, serving on a steering committee for an Oracle ERP implementation and recommending close process improvements.

Worked with Deltek's CFO, Controller, Sales, Credit and Customer Care organizations to perform real-time analyses of potential revenue recognition issues under SOP 97-2/ASC 605 and ASC 606 related to complex multiple element arrangements that bundle together perpetual or term software licenses, maintenance, software-as-a-service (SaaS), professional services and other subscription agreements. Performed monthly and quarterly allocations and documentation of the arrangement consideration to the individual deliverables. Supported the adoption of the new revenue recognition standard as of 1/1/2018.

NVR is a Fortune 500 homebuilder and mortgage company with $5.2 billion of revenue and 5,100 employees. Reporting to the CEO, member of senior leadership team with responsibility for a team of 36 professionals managing human capital initiatives across the 5,100-employee organization. Directly supported the Board’s Compensation Committee with their responsibilities under their charter and investigated and reported on SOX hotline calls to the Audit Committee. Duties also included: participating in monthly leadership strategy meetings; budgeting and forecasting headcount requirements; monthly reporting of human capital business metrics; leadership development and succession planning; employee benefits administration; and, updating company policies and procedures to comply with EEOC, DOL, ACA, Ban-the-Box and other Federal, state and local laws and regulations. Accomplishments include: • Narrowed NVR’s strategic leadership dimensions and realigned related testing and annual performance evaluation processes to focus on the most critical drivers of success. • Led divisional leadership in turnover reduction efforts, resulting in 20% reduction in company-wide turnover rate. • Streamlined the electronic application, background check and offer letter processes to shorten the hiring timeline and improve applicant satisfaction. • Prepared comprehensive analyses of NVR’s benefits against competitors, market surveys, and evolving paid sick leave laws, resulting in strategic recommendations for changes to further reduce turnover. • Managed RFPs for new medical, prescription, life, and disability providers to control costs and improve service.

Presidio is a $2.3 billion provider of advanced infrastructure IT solutions and services, acquired in 2015 by Apollo. Reporting to the EVP and CFO, functioned as corporate-division CFO with responsibility for treasury and FP&A, financial reporting and audits, technical accounting, income/indirect taxes, cost accounting and services billing, risk management, real estate, M&A support, payroll and HRIS, procurement, HR business partners and benefits administration. Received 2013 President’s Club Award for recognition of special finance and administration performance. • Served as member of deal team executing: o Successful exit in 2015 through $1,335,000,000 leveraged buyout by Apollo from American Securities Capital. o Sale of Atlantix Global Systems. o $600,000,000 debt recapitalization and $300,000,000 dividend. o Due diligence for acquisitions of BlueWater Communications Group, INX, and Coleman Technologies. o Successful exit in 2011 through $700,000,000 leveraged buyout by American Securities of Columbia Capital. o Placement of new $350,000,000 debt facility and $200,000,000 dividend. • Built corporate accounting and finance team from two people in 2008 to 25 in 2015 along with implementing outsourced arrangements for income taxes, insurance, real estate, and employee benefits. • Revenue recognition related to Presidio’s services and the sale or lease of third-party products, software and support services; purchase accounting, including push-down of the two change-of-control transactions; goodwill and other intangible assets; share-based compensation; and, segment reporting. • Led Great Plains financial system conversion project; implemented new OptionEase stock option tracking system and CCH sales and use tax compliance system. • Implemented tax planning strategies reducing overall effective income tax rate by 300 basis points as well as Cayman insurance captive to provide $1,200,000 of recurring workers’ compensation cost reductions.

AES is one of the largest global power companies, with revenues of $12 billion and operations in 130 locations in 28 countries. Led team of 12 CPA-level professionals providing internal M&A transaction support, due diligence/purchase price accounting, global contract and derivative accounting, technical reviews, and training on complex and emerging accounting issues and SEC disclosures. Managed an additional 30 professionals handling AES’s corporate accounting functions, including payroll, accounts payable, travel and entertainment, general ledger, and intercompany accounting. Accomplishments include: • Facilitated remediation of material weaknesses and significant deficiencies related to contract accounting, long-term compensation, and asset capitalization, including related SOX documentation and testing. • Reviewed 55 M&A deals for accounting and EPS implications and conducted complete overhaul of accounting policy manual. • Technical reviews and whitepapers on several hundred reviews of global revenue and cost contracts for revenue recognition (ASC 605) and derivative issues (ASC 815). Specific experience with issues relating to embedded derivatives, leases, guarantees and variable interest entities; share-based compensation (ASC 718); purchase accounting (ASC 805); consolidation accounting (ASC 810); and, capitalization of internal use software (ASC 350). • Drafted disclosures in 10-K’s and 10-Q’s; member of Disclosure Committee for SEC filings. • SOX control self-assessments and documentation for the Controller’s organization. • Organized and managed global technical accounting and reporting conference for 200 AES accountants, and instructor on technical accounting issues at Darden Executive Education Program.

The Ballenger Group was a software developer and business process outsourcer that provided best-of-breed data entry, payment processing, customer service and technology solutions, and which serviced more than 150,000 consumers and $50 million of payments each month. Oversaw company’s financial and HR operations, payment processing services, customer retention and ISO 9001:2000 certification. Successful exit through sale of business.

Qbit was a technology start-up that was co-founded by former Apple CEO John Sculley to provide lossless data compression capabilities targeted at high definition video and images and pattern recognition software for the life sciences field. Worked with board to raise $7.1 million from angel investors while building the company to 25 employees.

OmniSky was a PSINet Ventures investment that was a provider of innovative wireless data applications and services for use on mobile devices. Took the company public in 2000, helping grow it from start-up to more than 250 employees in five countries with 40,000 subscribers and annualized revenue of $30 million, before selling the company to EarthLink in 2002. Managed S-1, 10-K's and 10-Q's, taxes, financial systems/controls, risk management, human resources, investor relations, cash forecasting and office administration. PSINet was the leading independent global provider of Internet and eCommerce solutions to businesses with run-rate revenues that grew during this period from $120 million to more than $1 billion, with 4,000 employees in 27 countries. Responsible for a team of 100 employees in five global regions that included internal, external and SEC financial reporting, taxes, financial systems and controls, risk management, accounting operations, and providing support to the CFO and senior management relative to all M&A and capital markets activities. Supported $4.8 billion of debt and equity financings with 25 registration statements and total of 70 SEC filings including 10-K’s, 10-Q’s, proxies and current filings. Led accounting due diligence, asset valuation, and purchase accounting process for 60 acquisitions and implemented Oracle Financials, Portal Infranet, and Hyperion.

Wyatt (now Willis Towers Watson) was a global human resource and employee benefits consulting firm that had over 90 offices and 4,500 employees worldwide. Handled initial SEC registration and compliance, accounting/reporting, accounting operations and medical and pension benefits, as well as $100,000,000 in non-compensation expenditures related to facilities, administration, and travel.

Responsible for 20 clients annually in various technology, consulting, petroleum, financial services, and legal industries. Partnered in overseeing office financial management, recruiting, and training.