PENNY FALGAS, CPA

Cocoa, FL 32927
(321) 403-1414
pfa2a0c8@westpost.net

CHIEF FINANCIAL OFFICER * VICE PRESIDENT * SENIOR CONTROLLER * CPA

A highly experienced Financial Executive who has demonstrated the ability to lea
d diverse teams of professionals to new levels of success in a variety of highly
competitive and fast-paced environments. Strong technical and business qualifi
cations with an impressive track record of more than 24 years of hands-on experi
ence. Combines strategic/tactical financial expertise with strong qualification
s in business development, operations and P&L management. Proven ability to suc
cessfully analyze an organization's critical business requirements, identify def
iciencies and potential opportunities, and develop innovative and cost-effective
solutions for enhancing competitiveness, increasing revenues, reducing costs an
d improving profitability. Skilled in partnering finance with core operations a
nd developing productive cross-enterprise alliances. Experience includes public
accounting, construction, legal, automotive and hospitality (hotel & restaurant
) industry accounting.
* Strategic & Operational Business Planning
* Public/Private Capital Markets & Equity Financing
* Financial Modeling/Planning & Risk Management
* Capital Expenditure Analysis, Planning & Funding
* Operations & Strategy Development
* Contract Negotiations, Due Diligence & Management
* Revenue/Profit Optimization & Tax Planning
* Accounting, Treasury & Human Resources
* Investor, Client & Banking Relations
* Internal & External Audit Management
EDUCATION
Master of Business Administration * Entrepreneurial* University of Central Flori
da
Bachelors of Science * Business Administration * Management (minor) * University
of Southwestern Louisiana
Certified Public Accountant (CPA) * Business Administration Honor Society * Nati
onal Merit Academic Scholarship

PROFESSIONAL EXPERIENCE
CONSULTANT, CERTIFIED PUBLIC ACCOUNTANT, Penny Falgas, CPA, Cocoa, FL
CHIEF FINANCIAL OFFICER, Jupiter USA, Inc., Orlando, FL (11/07 - 12/08, layoff
s)
Land developer with projects (commercial, residential and multi-use) throughout
the United States; majority of capital obtained through large investor based pro
gram in Germany. Organization consists of 48 entities (C corps, S corps, LLC's
and Ltds.); over $500 million in assets.
* Operational and programmatic support to the organization, supervising the fin
ance unit and chief financial spokesperson for the organization
* Assists with all strategic and tactical matters as they relate to budget mana
gement, cost benefit analysis, forecasting needs and the securing of new funding
from lending institutions (over $50m) and mezzanine financiers ($125m)
* Part of the executive team involved with land acquisitions, development and s
ales
* Work with German investor/capital groups ($325m); maintained relations with f
inancial agents and trust attorneys
* Implemented/converted the cost, budget and financial accounting software from
QuickBooks to Timberline
* Implemented internal controls and internal audit procedures which resulted in
the discovery of fraudulent activities
VICE PRESIDENT, REGIONAL CONTROLLER, Earthmark Companies & Mariner's Club, Key L
argo, FL (4/06 - 11/07, layoffs)
High-end Resort Developer (condominiums, condo/hotel [whole and fractional unit
sales], marinas, restaurants, spas, clubhouses, luxury amenities, single family
housing and workforce housing); Florida Keys division consisted of 25 entities;
over $250 million in assets.
* Involved with land acquisitions, development and construction of resort prope
rties and amenities
* Responsible for all development, construction and operations accounting for t
he Florida Keys Division; annual budgets, quarterly forecasts and monthly financ
ial statement packages; compilation and presentation of Economic Models used to
determine projects
profitability and feasibility (i.e. acceptable IRR, absorption rates, required s
ales pricing, amenities, etc.);
* Review all AIA contracts and contractor application submittals and supervise
draw process
CHIEF FINANCIAL OFFICER, Florida Region, Concord Wilshire Construction, Daytona
Beach, FL (3/05 - 4/06, promoted to Corporate CFO but had to relocate to Los A
ngeles, CA)
Land Developer and General Contractor for commercial, ocean front condominiums,
gated communities with single family housing
* Hired to assist with the startup of the Florida Division and construction com
pany; involved in all negotiations
* Purchased, installed and setup all hardware and software necessary to get con
struction company started
* Involved with land acquisitions and sales, development and construction of al
l projects (including joint ventures)
* Corporate liaison with investors and partners in all projects
* Secured all A&D financing, mezzanine financing and revolving lines of credit
for Florida division
VICE PRESIDENT, CORPORATE CONTROLLER, SeaGate Homes, Inc., Palm Coast, FL (200
2 - 2005)
Land Developer and Single Family housing construction; organization consisted of
12 entities; over $65 million in revenues
* Compiled and implemented the Accounting Policies and Procedures manual
* Increased profits 400% in 2 years by implementation of internal controls, pol
icy & procedures, pricing strategies, new development strategies, cost controls,
rebate programs and contract negotiations
* Promoted to Vice President for significantly improving employee morale, compa
ny procedures and net profits
DIVISION CONTROLLER, Lennar Homes, Inc., Rockledge, FL (2000 - 2002)
National Home Builder
* Responsible for monthly financial close, monthly projections, job costing, bu
dget/cost analysis of homes, variance analysis/ explanations, payroll, accounts
receivable, audits, corporate discussion points, land acquisition analysis, annu
al business plan, annual mission statement, reviewing & signing all sales contra
cts and closing documents
* Involved with CDD projects, Homeowner's Associations (budgets, financials, de
ficit funding & Board of Directors), Human Resources, Risk Management, Informati
on Systems, Purchasing, Expediting, and Marketing
* Consistently won corporate contests for being within 1% of our monthly projec
tions
CORPORATE CONTROLLER & INTERNAL AUDIT MANAGER (acting Director), Planet Hollywo
od International, Inc., Orlando, FL (1999 - 2000)
Restaurants and Retail Stores
CORPORATE CONTROLLER (2000):
* Responsible for all accounting functions; reorganization of corporate account
ing department after bankruptcy; implementing new policy and procedures througho
ut corporate and restaurants; worked closely with PWC
* Implemented a cash management program that increased bottom-line profitabilit
y within two months
INTERNAL AUDIT MANAGER (1999):
* Audit all wholly owned domestic and international restaurants, franchise rest
aurants and joint venture restaurants
* Responsible for writing and implementing new audit programs due to significan
t accounting policy and procedure changes throughout company; writing and issuin
g audit reports to all executive staff members and Board of Directors
* Assigned special projects due to the significant changes occurring throughout
the company, one of which saved the company a significant amount of money and r
eceived high remarks from Price Waterhouse Coopers; was later promoted to Corpor
ate Controller by PWC's recommendation to CFO
* Assisted with the motions and schedules for the bankruptcy filing; liaison be
tween PWC and finance department for corporate audits and Chapter 11 filings/rep
orting/compliance
ACCOUNTING MANAGER, Smart Choice Automotive, Titusville, FL (1997 - 1999)
Automotive Group
* Responsible for Consolidated Financial Statements for the publicly traded com
pany with annual revenues in excess of $150 million per year (6 subsidiaries and
26 automotive dealerships); SEC reporting and GAAP compliance
* Aided in the financial aspects and Road Show presentations for Second Public
Offering.
* Implemented disciplined accounting controls critical to complying with SEC re
quirements
* Responsible for monitoring and updating covenant compliance for all debt and
equity instruments
CONTROLLER, Florida Finance Group, Inc., Titusville, FL (1997 - 1999)
$115 million portfolio that provided financing for 26 new and used automobile de
alerships
* Responsible for managerial reporting, including budget analysis, ratio analys
is, debt analysis, budget vs. actual analysis, historical comparisons, industry
comparisons, projections, and forecasting
* Improved the credit process and reduced portfolio delinquency from 85% to 23%
Corporate Controller, Sizzler, Melbourne, FL (1994 - 1997)
Restaurant Chain (consisted of 7 restaurants/10 entities)
* Responsible for gross revenues in excess of $65 million
* Implemented a company-wide reporting system that allowed financial informatio
n to be readily available every
CERTIFIED PUBLIC ACCOUNTANT, Berman, Shapiro, Hopkins and Company, Merritt Islan
d, FL (1991 - 1994)
Public Accounting Firm
* Audits, Reviews, Compilations, and Tax returns

COMPUTER SKILLS
Microsoft Office, Peachtree, Tvalue, JD Edwards, Timberline, MAS, Quickbooks and
various other accounting, financial and tax software