Profile: Biometric Identification, Inc. (BII) was a leading provider of advanced fingerprint technology. The company’s advanced fingerprint technology offered customers a wide range of biometric options for making access to facilities, equipment and information simpler and more secure. BII was at a critical stage in its market development and required additional capital and management expertise in order to expand and achieve its overall business objectives.

Goal/Requirements: Mr. Tarr was retained to develop a strategic and operational plan in order to assist the company in raising $10 million in equity, and to assess the overall operational effectiveness of the organization.

Strategy:
• Retained Hunter Capital & Friedman, Billings & Ramsey to lead the capital raise.
• Hired a Vice President of Finance to assume responsibility of the finance and accounting function for BII.
• Determined the existing CEO was not the correct person to manage and lead BII and successfully recruited a new CEO with extensive high technology and offshore manufacturing experience.
• Identified significant manufacturing inefficiencies.
• In conjunction with the new CEO, relocated manufacturing from Canada to China, resulting in significant reductions in material and labor costs.
• As part of the capital raise, identified three other biometric companies interested in the purchasing of BII.

Results: Negotiated the successful sale of BII to an exchange listed Canadian company.