POWERS DEVICE TECHNOLOGIES, INC.
Pat Palmer President and Chief Executive Officer
Patricia Palmer brings more than 25 years of general management, sales/marketing, financial and operational experience in leading technology companies, together with financial experience developed more recently at Littlebanc Advisors, Morgan Stanley, and Oceana Partners. Ms. Palmer has led technology start-ups as well as units/brands for some of the most respected companies in the world. Her technology experience has included leading a Silicon Valley software start-up group, XSoft, which sold over 9 million licenses, and executive roles as: Northeast Regional Sales Manager for Dell Corporation; COO, Global Telecommunications Group for Unisys Corporation; Vice President/General Manager of Publishing Software for Xerox Corporation; and over 15 years with IBM Corporation where she held management roles in sales, marketing, and finance, including the role of Senior Manager of Worldwide Marketing & Product Management for the IBM PC and Branch Manager of a $400+ million sales office. Ms. Palmer is a member of the Advisory Board of the Florida Institute for the Commercialization of Public Research.
E. Harold “Hal” Gassenheimer Chief Financial Officer
Mr. Gassenheimer brings over 30 years of financial and general management experience to the Company’s Board of Directors. Mr. Gassenheimer obtained his MBA from the Harvard School of Business and began his career at Exxon Mobil where he served 23 years in various executive positions developing expertise in international tax, legal and accounting matters. Since ExxonMobil, Mr. Gassenheimer has participated as a partner with responsibility for finance in several large real estate development projects where he arranged debt financing and handled reporting requirements with banks. He was the Treasurer of Cunard Line Limited and Seabourn Cruise Line, a division of Carnival Corporation for three years where he rebuilt the controls, systems and procedures for cash management. Following that, Mr. Gassenheimer served as CFO for Avalon Research Group until its successful sale in 2005. Since then he has served as CFO of Reefbreak Management, Hedge Fund and COO of MAMC, Inc. a mortgage servicer. Mr. Gassenheimer is currently the CFO of Littlebanc, an investment firm.
BOARD OF DIRECTORS
Pat Palmer Chairman and CEO
Michael Margolies Director
Michael Margolies has more than 25 years of capital markets experience. During his long career, Mr. Margolies has been involved in hundreds of transactions as both a seller and a buyer of company equity and assets. Mr. Margolies started his career on the floor of the New York Stock Exchange before moving up to manage long/short discretionary accounts worth hundreds of millions of dollars for both Oppenheimer and Company and M.A. Berman & Co., a boutique money management and brokerage firm. In 1995, Mr. Margolies founded Avalon Research Group, Inc., one of Wall Street’s top-rated independent research companies with more than 100 hedge fund and mutual fund clients. In addition to being founding member of Investorside Research Association, a non-profit trade association of investment research providers not engaging in investment banking, Mr. Margolies served as CEO of Avalon until its sale in 2004. Currently, Mr. Margolies serves as CEO of Littlebanc Advisors, a boutique investment banking firm he founded in 2009.
Menachem Kranz Director
Mr. Kranz has worked for over a decade in the securities and finance industry, most recently as vice president in the PIPEs practice at Ladenburg Thalmann & Co. Prior to joining Ladenburg, Mr. Kranz leveraged his extensive contacts and relationships within the hedge and mutual fund communities in a variety of contexts, including as a hybrid trader with RBC Capital Markets and a senior vice president of institutional research sales at Avalon Research Group Inc. where he was instrumental in the rapid growth and development of the firm. Mr. Kranz’s educational background, Rabbinical College of America, laid the foundation for sound analytical-minded process and affability.
E. Harold “Hal” Gassenheimer Director and Chief Financial Officer
Jack Sullivan Jr. Director
Since 2003, Jack Sullivan has been the President/CEO of the Florida Research Consortium (FRC), a strategic partnership between Florida’s universities, research institutes and business community; focused on enhancing progressive research programs in Florida to promote quality economic growth. In the last seven years, Florida has levered approximately $1 billion in research infrastructure investments into billions of direct funding for research. Jack came to the FRC after 18 years as a business owner, where after a successful sale he became VP Acquisitions and Planning for the acquiring convenience retailer. The company expanded five fold in four years to reach sales in excess of $810M. Today, Jack maintains ownership and manages a portfolio of commercial and agricultural real estate in Florida and Georgia and serves on the board of Powers Device Technologies, an early stage device company based on university intellectual property.
Jack’s past volunteer service includes the Executive Committee of the Georgia Chamber of Commerce as Vice-Chairman for Economic Development and other state and local economic development leadership positions. He is a graduate, former Program Chair, Board of Trustee’s member and Chairman of the selection committee for Leadership Georgia. Jack served on the Board of First State Bank and Trust on the Finance Committee in Valdosta, GA. Recognized for his role in the only successful removal of an Air Combat Command Facility from 1991’s BRAC, Secretary William Perry invited Jack to DOD’s Joint Civilian Orientation Conference.
Current volunteer service includes the Boards of BioFlorida, Florida Lambda Rail and the University of Florida’s External Advisory Board for the “Science Masters Program in Translational Biotechnology”. Jack earned a B.A. from Davidson College and an MBA from Vanderbilt University.
ADVISORY GROUP / INVESTORS
Jayne Standley, Ph.D.Researcher and Professor, Florida State University School of Music
A longtime researcher and professor in Florida State University School of Music, Dr. Standley is the 2005-2006 Robert O. Lawton Distinguished Professor, the Florida State University’s highest faculty honor. Her pioneering work in the field of medical music therapy has led to new techniques for treating premature babies. An FSU faculty member since 1976, Standley is recognized throughout the United States as the foremost authority on medical music therapy. In addition to her research activities. Standley has directed and mentored nearly 200 graduate students in their research efforts.
For more than 25 years, students from FSU have presented original research at the American Music Therapy Association’s annual conference. Because of her participation and that of her students and former students, FSU has had a greater presence in the music therapy research community than any other university in the country.
Littlebanc Advisors, LLC, an investment banking boutique, specializes in funding small, high quality growth companies. With its roots in research and long established Wall Street relationships, Littlebanc matches client companies with partner-minded investors fostering a stable and long- term shareholder base. For more information please visit www.littlebanc.com Lb Merchant II, LLLP, an affiliate of Littlebanc Advisors, LLC, is a merchant bank that invests in small, high quality growth companies. Lb Merchant II, LLLP takes an active approach to its portfolio companies and assists these companies in realizing their potential.