PETER J. EDWARDS
A senior accounting professional with over 20 years experience, specializing in finance. Areas of expertise are as follows: Management of a substantial cash flow which would include monitoring and replenishment on a daily basis, financial reporting, and liaison with all major financial institutions, mergers and acquisitions. Track record that provides seasoned advice that supports sound business and management strategy. Have strong people, technical and analytical skills, with a view to positive customer service.
Certified General Accountant (5th Year Level Qualification) 1989
Centennial College of Applied Arts and
Technology Certificate, majoring in Business Management
ADR Institute Arbitration Certificate from:
Comprehensive Arbitration Training Course 2012
Member – ADR Canada
Member – ADR Ontario
CRAM Consulting Group Inc. 2006-Present
CRAM Consulting Group, Inc. acts on a fee for services basis to existing Lenders, Investors and Stakeholders in “Mid Sized” Public and Private Companies that require “Third Party, Arms Length” restructuring by Finance Professionals in both Canada and The United States.
Vice President of Finance
– Created and directed and counseled clients and staff on financial planning and reporting systems together with establishing financial controls, budgets and weekly, daily and monthly forecasts, and cash requirements both during and subsequent to, the restructuring process
– Responsible for all Client and Corporate contract requirement negotiations, facilities management, strategic planning and investor relations
– Sourced, negotiated, structured and “Closed” Public and Private Financings at both the Corporate and Client levels.
eStation Network Services Inc. 2000-2006
President, Director & Chief Financial Officer
– President & Chief Financial Officer appointed to the Board of Directors and Executive Committee directing a $100M consumer products, advertising and ATM company.
– Accountable for strategic planning, development and leadership for the finance function
– Coordinated the Corporate and Operations functions that included budget and operations analyses and cash flow requirements
– Ensured that all Audit Requirements and Public Company Operation procedures, including internal company policies were followed with a team of finance and operations people throughout the country
– Recruited, developed and managed Executive team of professionals, managers and support staff.
– Took an active leadership role in all financings and Public Offerings of the company’s stock
– Helped build one of Canada’s largest and successful independent ATM Networks
Noble Hospitality Inc. 1995 – 2000
Chief Financial Officer & Director
– Co-ordinate the development and execution of company’s startup hotel acquisition plan
– Liaise with lenders and investor groups to execute target acquisitions
– Staffed and coordinated all head office functions for multiple property locations throughout the Mid-West United States
– Established operating accounting and computerized operating systems Nationwide including establishment of onsite audit processes and operational procedures and policies both internally and in accordance with site franchise agreements
– Negotiated long term debt with Federal U.S. Authorities as required
– Secured long term Franchise Agreements with Holiday Inn Worldwide, Ramada Inns, Days Inn’s and other major hotel operators throughout North America
Sample Mandate follows:
Premier Golf Corporation
Premier Golf, Corporation. (“Premier”) was incorporated under the laws of The Province of Ontario to take advantage of the consolidation currently taking place in the golf industry in both Canada and the United States.
The principles of Premier developed a strategy whereby they would acquire mid tier “Pay As You Play” courses throughout southern Ontario and in to the Southern United States. They targeted courses that were underperforming in their market place in either the number of rounds they achieve annually or the Green Fees charged per round compared with “Like” courses in their marketplace. Their strategy was to bring stronger management skills to the courses, centralized purchasing and finance functions and through this combination of savings at course level and improve the overall performance of the courses they acquired.
Premier’s strategy was to link courses across Canada and within a reasonable time frame move into the U.S. marketplace through a joint venture with strategic partner(s). There are currently in excess of 2,000 golf courses across Canada with less than 2% under one Corporate umbrella and over 15,000 courses in the U.S. with less than 5% under one Corporate umbrella. There is plenty of room in the marketplace to absorb our strategy.
PREMIER GOLF entered into agreements with Senior Management Candidates who are owners in, and manage, Golf Course Operations in both Canada and the United States. These Managers were key componants in the identification and repositioning their current Golf Course Operations. They, together with their teams, brought a vast amount of experience and industry knowledge to the company.
Premier retained KPMG in Toronto, Canada who are the leading Golf Course Industry analysts in Canada, who assisted in analyses of targeted properties and provided Finance and Audit functionality on behalf of Shareholders and Investors.
Market Capitalization: $110,000,000
- Equity (65%) 71,500,000
- Debt (35%) 38,500,000
Outstanding Shares: 9,500,000
Proposed Share Price: $10.00
I was retained by the Corporation to provide a negotiating skill set that the Company lacked. My Mandate included developing an Acquisition Model that could be utilized in both Canada and the United States that offered consistency for analyses purposes.
The Mandate included the negotiation and execution of all Property Purchase Contracts from “Offer”to “Closing”. This aspect of the Mandate required a skill set that provided the Company with the ability to negotiate on going property developments that included Golf Course Home and Condominium Developments. These negotiations would typically include the negotiation of Condo and Home Owner Association Agreements in 3 Provinces in Canada (including Ontario) and 4 States in the United States.
As the Mandate progressed I was further Mandated to coordinate and negotiate the Proposed Initial Public Offering in Excess of $100,000,000USD that included all Legal, Finance Agreements that included, but were not limited to, Banking, Securities and Investor Regulators on behalf of all current and proposed Shareholders.
Life Settlement Management Group Inc.
To negotiate the ultimate Settlement of Insurance Portfolio’s acquired by Providers and Agents throughout North America. To determine Portfolio Valuations and provide “Reasonable” Settlement Assumptions relating to specific Markets and Regions on behalf of Investors and Lenders.
The Life Settlements business involves the purchase of insurance policies and the related death benefits payable on the lives of seniors. Typically, such policies have become unaffordable or unnecessary and the policy owners have elected to sell them in the secondary market. This strategy allows individual or corporate holders to access the locked up capital in their policies by providing a secondary source to monetize their value.
The impetus for the development of a secondary market for life insurance policies is the result of an expanding realization that the actuarial value of a life insurance policy can be much greater than the corresponding cash surrender value of the policy prior to the death of the insured. The pricing of Life Settlements purchases is based on those differences. It monetizes the actuarial value of life insurance policies, and provides an alternate source of liquidity to the holders of such unnecessary or unaffordable policies.
According to a study conducted by the Wharton School of Business, Life Settlements transactions in 2002 were estimated to have paid policyholders US$242 Million in excess of cash surrender value of US$93 Million (an amount which would have been otherwise forfeited to the life insurance industry). Industry statistics published by the National Association of Insurance Commissioners indicate that more than US$1.5 Trillion in life insurance policies are allowed to lapse or are surrendered annually in the US.
In the past 150 years, no “A” rated (or above) US Insurance company has ever failed to fully pay beneficial entitlement under a legitimate claim.
Warren Buffet of Berkshire Hathaway has been an active buyer of such policies, as have some pension funds and German mutual funds.
The Life Settlement Portfolio Opportunity
The Investment Vehicle (Publicly Listed Company) intends to acquire portfolios of insurance policies each containing a number of life insurance policies (the “Portfolios”) acquired in the secondary market, with a face value principal payout of approximately US$150 Million. The selection criteria for policies to be acquired will include the credit rating of the carrier, and the age, health and independent estimates of the life expectancy of the insured. Each Investment Vehicle will assemble its Portfolio in the United States based on, but not necessarily restricted to, the following criteria:
- policies underwritten by insurers rated “A” or better (excellent) by A.M. Best, with no one insurer accounting for more than 20% of the Portfolio.
- “insured’s” whose weighted average age will be at least 75.
- “insured’s” with independently assessed and documented life expectancies up to 96 months.
References Available Upon Request