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.
- Improved quality of financial reporting
- Greater confidence in the company by outside investors and the investing public.
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.
The client needed experienced help in the areas of accounting and administration.
Clear Financial Solution:
Clear Financial Solutions, Inc provided a variety of services including:
- Budget Preparation
- Financial Management
- Financial Statement Preparation
- nnual Audit Oversight
- Chaired Finance Committee
- Identified areas where loses were being incurred.
- Developed plans to cut costs and restore profitability.