Client Successes


ADVENTRX Pharmaceuticals, Inc - Lifesciences

Background: ADVENTRX Pharmaceuticals, Inc. (AMEX: ANX) is a biopharmaceutical research and development company whose business strategy is to commercialize leading edge medical research through licensing agreements with prominent universities and research institutions.
The Company focuses on antiviral and anticancer research to launch products that either extend the usefulness of current therapies through replacement chemistry or replace marginal therapies with new, more innovative biological approaches to treatment.

Business Challenge: ADVENTRX didn't have the internal resources to prepare quality financial statements and SEC filings and couldn't justify staffing full-time personnel.

Clear Financial Solution: Contract CFO Services

Clear Financial Services, Inc. was retained as a Contract CFO to oversee capital raising, SEC filings, financial statement preparation, and develop internal controls. Our professionals worked remotely and also helped ADVENTRX in selecting, implementing and managing their accounting software.


Client Benefits:


  • Improved quality of financial reporting
  • Greater confidence in the company by outside investors and the investing public.



Spay Neuter Assistance Program

Background: The Spay Neuter Assistance Program provides free or low cost spay and neuter services for cats and dogs in low income areas of Houston, San Antonio, New Mexico and Mexico.

Business Challenge:
The client needed experienced help in the areas of accounting and administration.

Clear Financial Solution:
Outsourced Accounting

Clear Financial Solutions, Inc provided a variety of services including:

  • Budget Preparation
  • Forecasting
  • Financial Management
  • Financial Statement Preparation
  • nnual Audit Oversight
  • Chaired Finance Committee

Client Benefits:

  • Identified areas where loses were being incurred.
  • Developed plans to cut costs and restore profitability.



Manufacturing

Background: This client develops, sells and manufactures digital equipment and related software to businesses, schools, governments, etc for external and internal security applications.

Business Challenge: The client was growing rapidy and needed infrastructure, procedures and controls throughout the company as well as professional management to improve problem areas in inventory, product returns, quality systems, personnel management and morale, strategic planning, financial reporting and key performance indicator reporting.

Clear Financial Solution: Business Advisory Services

CFS started by implementing programs to improve morale and get employees focused on clearly understandable goals. We then designed and implemented written procedures for multiple functional areas including IT, inventory control, AR, AP, fixed assets, returns, repairs, cash, financial statement closing, and HR. More recently, we implemented financial and non-financial measurement systems and flash reporting and instituted a strategic planning planning process We also supervised the development and implementation of the strategic plan.

Client Benefits: