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Tony Wayne, CPA, CVA, CIRA, CFF, FCPAwww.ihorsellc.com

http://www.linkedin.com/pub/tony-wayne/0/92b/13b913-851-0027

twayne@ihorsellc.com

IRONHORSE is a special situation financial advisory and consulting firm: Special situation investment banking & corporate finance Business valuation and appraisal Forensic accounting, forensic fraud investigations Complex financial and operations restructuring Corporate value recovery: turnarounds, work-outs, divestitures, wind-downs, liquidations

Representative List of Assignments:

Acted as Liquation Agent for an $8 million manufacturer and distributor of men’s casual pants: Created 13 week forecast to control cash management to assure proper utilization of funds. Coordinated the shutdown of the 2 foreign manufacturing plants. Worked with existing customer base to maximize value of liquidated inventory. Investigated and negotiated with liquidators regarding excess inventory. Controlled the debtors assets pledged as collateral.

Directed the liquidation of a $135,000,000 satellite television service and distribution company: Managed 4 teams of liquidators and closed 72 offices throughout the country. Secured computers and data as required by court order. Liquidated $1,000,000, $2,000,000 of inventory and $1.5 million of office furniture and equipment. Managed the disposition of the company’s 401(k) plan.

Crisis managers/investment bankers to distressed fabricator of precision engineered components: Business experienced dramatic recovery to three consecutive years of strong profitability and cash

flow while under IRONHORSE leadership and direction. Successfully restructured $ 3.5 million in debt financing through workout negotiations with senior

lender, and new placement of revolving factoring facility. Saved $ 75,000 annually in cost of funds. Completely overhauled reporting model with emphasis on critical value drivers. Sold firm to strong industry strategic for a very competitive EBITDA multiple. Released all personal

guarantees, freed up $ 4 million in pledged personal assets, and ensured long-term deferred lease-retirement stream to exiting ownership.

Co-facilitated the Section 363 sale of the premier supplier of racing and premium automotiveafter-market wheels and accessories.

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Facilitated sales of multiple entities as going-concern transactions within court-supervisedreceivership proceedings.

Expert witness for Section 363 AP action U.S. Bankruptcy Western Missouri District (ArrowSpeed Warehouse). Allegations of fraud in the inducement to debtor CEO to complete transaction, failure to solicit

and secure, highest-best offer. Insolvency opinion, business valuation and forensic analysis findings essential to counter/dispute

plaintiff expert conclusions, filing of Daubert motion against plaintiff expert, and successfulsettlement & dismissal of AP action against special investment P.E. sponsor group acquirer ofthe assets.

Served as Financial Adviser to senior secured lender as well as Chief Restructuring Officer tospecialty energy consulting and management firm debtor serving Fortune 1000 client base. Efforts instrumental to successful sale of secured debt position to minority investor/strategic

source within the energy industry.

Financial Adviser and liquidation agent to asset-based senior secured lender for multi-locationgasoline distributor/retailer.

Financial Advisor and investment banker to $ 20 million specialty custom manufacturer of highlyengineered piping solutions and wholesale components to the groundwater industry.

Developed/implemented comprehensive restructuring plan including facilities closures andconsolidations, rationalization/exit of wholesale business, product line rationalization, sales ofnon-core operations.

Successfully stabilized positive EBITDA/operating cash-flow after cumulative losses inexcessive of $ 2 million over trailing 24-months pre-engagement.

Serving as CRO to the enterprise to navigate through pre-negotiated, pre-pack chapter 11 filing. Conducted comprehensive special-situation investment banking process with priority emphasis

priority on potential groundwater strategic prospects. Uncovered $ 750,000 in unauthorized conversion of corporate assets for personal gain, as well as

a $ 4 million comprehensive, multi-year financial reporting fraud.

Successfully co-founded IronHorse LLC, a specialty financial/business services firm with practiceconcentrations in business valuation, complex financial/operational restructuring and insolvency,forensic accounting, litigation support.

Served as business appraiser, litigation support consultant, consulting & testifying expert, court-appointed receiver and forensic accountant in a wide variety of highly complex litigation engagements.

Case experience includes family law, complex commercial and financial litigation, lost profits damagesclaims, fraud actions, shareholder disputes, insolvency proceedings. State as well as federal courtexperience.

Experienced in mergers, acquisitions and divestitures. Led due diligence of several successfulacquisitions. Buy as well as sell-side valuation advisory.

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Industry expertise includes extensive manufacturing and distribution, alternative energy, specialtyenergy contracting, energy retail, commercial finance, automotive after-market, building materialswholesale and retail, construction, commercial printing, technology, real estate development, holdingcompanies, wireless wholesale & retail, hotel & hospitality, and various service industries.

Extraordinary evidence compilation, organization & presentation capabilities.

Award-winning technical publisher & presenter.

Professional Qualifications: B.S.B.A., Accounting & Business Administration, University of Kansas. Executive Fellow & MBA, Rockhurst University. Certified Public Accountant. Certified in Financial Forensics Forensic CPA Certified Valuation Analyst. Certified Insolvency & Restructuring Advisor. Adjunct Professor of Accounting-Johnson County Community College, Rockhurst University

Memberships, Associations and Boards: Turnaround Management Association. Association of Insolvency & Restructuring Advisors. American Bankruptcy Institute. Member Commercial Fraud Task Force and Business

Reorganization committees. National Association of Certified Valuation Analysts. American Institute of Certified Public Accountants. Member Forensic & Valuation Services

Section. Association for Corporate Growth. Former Advisory Board Member: Served for five years with Center for Industrial Research &

Service (CIRAS)-Manufacturing Extension for the School of Engineering, Iowa State University. Extensive business valuation, litigation consulting engagement experience:

Family law cases. Commercial & industrial loan file reviews, field exams & credit administration engagements. Sell-side & buy-side M & A support. Court appointed receiver to wind down affairs, investigate allegations of unauthorized insider

transaction in ownership. dispute/litigation impasse case. Derivative shareholder actions. Solvency & intangible asset impairment analyses. C & I lender recovery actions. Multiple lost profits damages litigation cases

RECENT PUBLICATIONS & PRESENTATIONS

Published on experts.com: Straddling That Very Fine Mendoza-Daubert Line: Resisting the Temptation toCut Corners or Advocate, April 2016.

NACVA-CTI Annual Conference, San Diego, CA, Sifting Through Electronic Trash-The Science & Art ofPublic Records and Electronic Communications Searches To Gather Evidence and Map Related PartyRelationships, June 2016.

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National Business Institute, Overland Park, KS, Buying a Business Start to Finish, May 2015. K.C. Bankruptcy Bar Association, Pre-Bankruptcy Cash Collateral Issues, Financial Statement Analysis,

and Ethics, June 2015. Consultants Training Institute, A Case for the Cards: Using Value Inference Indicators as an MLB

Executive Organization Scorecard, May 2015 webinar. Consultants Training Institute, Valuing a Dream: Dream-Lost Profits Damages for a Development Stage

Start-Up, San Diego, CA, December 2014. A Case for the Cards: Using Value Inference Indicators as a Scorecard for MLB Executive Organizations.

The Value Examiner, September/October 2014. Distinction of being awarded as one of Top Five 2014articles.

Making Deals in the Wild, Wild West: Going-Concern Enterprise Transactions in State Court ReceivershipProceedings. July 2014 ABI Reorganization Committee Newsletter.

Interview Published in Sector Spotlight: Insolvency, Turnaround & Restructuring. AcquisitionInternational, August 2013.

PAST 5-YEAR TESTIFYING CASES

VENUE CASE CAPACITY

1 Johnson County Kansas District Court Premier Bank vs. Ringside et al Receiver

2 Platte County Missouri District Court Greydon W. Nedblake Vs. Renee Joy Park Nedblake Forensic & Lit Support Consultant

3 U.S. District Court For District of Ks at K.C. Arvest Bank vs. Am Energy Solutions, Inc. et al Financial Advisor

4 U.S. District Court For District of Ks at K.C. Lead Bank vs. Am Energy Solutions, Inc. et al Chief Restructuring Officer

5 U.S. Bankruptcy Court W. Missouri DistrictArrow Speed Warehouse Inc, RL Coppaken et al vsKeystone Automotive Operations, Inc. Consulting Expert Witness

6 18th Judicial District Court Sedgwick Co., KS KS. Biofuels vs. Treatco, Inc. Lit Support Consultants

7 Johnson County Kansas District Court Raizada Vs. Raizada Forensic & Lit Support Consultant

8 Circuit Court of Jackson County Mo at KC MJ Doyle vs. DGI et al Receiver

9 Missouri District Court in Jackson County, MO 4H Enterprises, et al. v. Raizada Group, LP Consulting Expert Witness

10 Missouri District Court in Jackson County, MO Gershom v. Raizada Group, LP Consulting Expert Witness