The FCG Team

Corporate

JEROME L. FRITSCHE, II:  Chairman/President/Chief Executive Officer/Treasurer:   Mr. Fritsche’s career at the capital markets level began in 1977 when he was selected to establish an institutional sales desk for EF Hutton, Inc. in Colorado Springs, Colorado. In 1980, he did the same for Drexel Burnham Lambert, in Seattle, and was named Vice President--Institutional Sales. In 1982, he established a capital markets department for Dean Witter Reynolds for the Pacific Northwest Region, and then joined Merrill Lynch Capital Markets where he served both as Associate Vice President of Institutional Equities in Seattle, and as Manager of Institutional Products and Marketing in New York.  In 1986, Mr. Fritsche was named Vice President and Regional Manager of US Equities for Nomura Securities International, Inc. in Los Angeles, and in 1991 became Executive Vice President of Moskowitz Capital Consulting,  Inc. In addition to his various responsibilities in the area of institutional sales and trading, Mr. Fritsche’s career has also included extensive involvement in the designing, structuring and marketing of private placements, strategic alliances, equity derivative products, and numerous other corporate finance projects. At the academic level, Mr. Fritsche has had the privilege of both lecturing at several prestigious universities on the topics of economics and the capital accumulation process, as well as teaching elective courses in derivative instruments at the collegiate level. Prior to entering the capital markets arena, Mr. Fritsche served five years on active duty in the United States Army. As a Captain and Field Artillery Battery Commander in Viet Nam, he was awarded the Bronze Star for Meritorious Service against hostile forces and is a Life Member of the Special Forces Association. Mr. Fritsche has been quoted on numerous occasions in investment periodicals to include The Wall Street Journal, Private Equity Week, Oil and Gas Investor and The Daily Deal. Most recently, he authored a chapter on the investment banking perspective of venture capital funding for the technology industry. The book, titled “Inside The Minds: Structuring Technology VC Investments” and published by Aspatore Books,was released in the spring of 2007. Mr. Fritsche studied business administration and economics at Denver University and the University of Colorado (Colorado Springs), received his MBA Certificate from the A.B. Freeman School of Business at Tulane University, and is a graduate of the University of Southern California's Marshall School of Business "eCommerce: Business Strategies For The New Marketplace" program. Mr. Fritsche is the Chairman of the firm's Board of Directors and the Transaction Selection Committee.   

MARJORIE L. RAPP: Vice President of Finance/Corporate Secretary: Mrs. Rapp began her career in finance as a statistician in the actuarial department of Allstate Insurance Company in Chicago . After receiving her A.B. and A.M degrees from the University of Chicago, Mrs. Rapp relocated to Colorado Springs, Colorado where she continued her education at the Graduate School of Business of the University of Colorado with an emphasis in accounting. Since then, her work has been both at the organizational and operational level. As the Treasurer, Controller and Director of Medical and Data Services, a company developed to bring state-of-the-art diagnostics and information technology to rural Colorado communities, she designed and implemented the accounting and cash-management systems. Likewise, in the same positions, she did the same for the non- profit Colorado Opera Festival. Mrs. Rapp has served as the Operations Director for more than twenty private investment ventures that include natural resource ventures, aircraft leasing, medical equipment leasing, apartment and single family construction and various real-estate rentals and developments. In addition, she has served as trustee of both charitable organizations and individual trusts. Based on her experience as a “crisis management” consultant for many different types of financial entities, Mrs. Rapp brings the added dimension to FCG's client and portfolio companies of being able to assist with various financial hurdles when necessary. Mrs. Rapp also serves as a member of the firm's Board of Directors.

TODD A. SPRINGER: Private Equity Advisor: Mr. Springer has over 15 years experience in private equity, investment banking and entrepreneurial management. As a former Managing Director of Trident Capital, a leading private equity firm managing over $1 billion in capital, Mr. Springer was responsible for sourcing, due diligence and board governance for portfolio companies involved in software, business services and e-commerce. As such, Mr. Springer brings a most meaningful dimension to the transaction selection process at FCG. Earlier in his career, Mr. Springer was an investment banker at Jefferies & Company, Lehman Brothers, Kendall Capital Partners (a private investment bank) and Drexel Burnham Lambert. Mr. Springer is currently the CEO of Roundhouse Ventures, LLC, a holding company focusing on e-commerce and online advertising. Mr. Springer received his Bachelor of Science in Finance from the Wharton School of Business at the University of Pennsylvania and his MBA from the Stanford Graduate School of Business. Mr. Springer also serves as an ad-hoc advisor to the firm's Information Technology Practice, is a member of Transaction Selection Committee.      

CRAIG NOLAN: Research Associate: Joining FCG in the summer of 2007, Mr. Nolan brings a diversified level of investment banking knowledge to the firm. Having served as an intern at a middle market investment banking boutique in Cherry Creek , Colorado, he was responsible for research, analysis, valuation, and the preparation of documents for the firm's mergers and acquisitions practice. As such, Mr. Nolan assisted with the completion of transactions in numerous industry sectors, including healthcare and information technology. Mr. Nolan has also worked as a field director on a political campaign and has interned for a real estate private investment firm in Colorado Springs . Mr. Nolan graduated from the University of Denver with a BSBA while majoring in Finance and Real Estate. Immediately upon receipt of his undergraduate degree, Mr. Nolan began pursuing an MBA with a concentration in Finance at the Daniels College of Business at the University of Denver , and expects to receive his MBA in the fall of 2007.

Life Sciences Practice:

SHANE A. JOHNSON, MD: Chairman, Life Sciences Practice/Biotech & Medical Device Advisor: Dr. Johnson is a Principal with Hamilton BioVentures, a venture capital firm investing in companies that develop dramatically better treatments (biopharmaceuticals and medical devices) for major human diseases and other medical conditions.  Previously, he worked as an Engagement Manager with L.E.K Consulting, an international strategy consulting firm, in the firm's life science practice. Prior to consulting, Dr. Johnson was the Director of Strategic Planning at Eidogen-Sertanty(formerly Bionomix), a computational chemistry and bioinformatics company, and before that he held the same title at Arbor Vita Corporation, a development-stage immune therapeutics company. As one of the earliest employees at each of these companies, Dr. Johnson was integrally involved with strategy formation, market and competitive analyses, fundraising, and business operations. With an active interest in international health, Dr. Johnson has done considerable volunteer work in areas such as Latin America and Papua New Guinea. He holds dual undergraduate degrees in Studio Art and Neuroscience, and obtained his medical degree at the Stanford University School of Medicine. Dr. Johnson has received a number of grants and academic honors, including a Fulbright Scholarship in Bogota, Colombia. Dr. Johnson also serves as a member of the firm's Board of Directors.

ALAN D. RAPP, MD: Vice Chairman of the Board/Cardiovascular Advisor: Dr. Rapp, a Colorado Springs , Colorado based cardiologist specializing in non-invasive cardiology and internal medicine, is one of the most highly regarded physicians in the Rocky Mountain area. Having attained his undergraduate and Doctor of Medicine degrees from the University of Chicago , his extensive background in the field of cardiology and internal medicine provide a truly meaningful asset to FCG in the arena of medical device analysis. Included here are numerous and prestigious educational assignments, hospital appointments, and major clinical investigations. In addition to his medical practice and numerous professional memberships and activities, Dr. Rapp is member of the El Paso County Medical Ethics Board, a past President of the El Paso County Medical Society and a former member of the Board of Directors of the Colorado State Medical Society. Dr. Rapp also serves as a consultant to FAA for clinical cardiology, and is a member of the Aerospace Medical Association and the American Heart Association's Council on Clinical Cardiology. Dr. Rapp also serves as the Vice Chariman of the firm's Board of Directors.

JANE A. SEMEL, MD: Ophthalmic Advisor: Dr. Semel is a Board Certified, fellowship trained ophthalmic surgeon who has been in private practice in Los Angeles for over ten years. A graduate of the Claremont Colleges, Dr. Semel pursued her medical training at the University of Southern California and the Doheny Eye Institute. After a period of focused research exploring the treatment of serious eye infections at the Jules Stein Institute, she finished at the top of her clinical residency program at White Memorial, scoring in the top 5th percentile nationally on her Board Certification Examination. Specializing in the treatment of cataracts, glaucoma and retinal eye disease, Dr. Semel is an accomplished laser surgeon, from the treatment of glaucoma and retinal disease to Laser Vision Correction and LASIK. In fact, she is one of the first women ophthalmologists in the United States to perform laser surgery as a refractive procedure. Driven by her passion for teaching, Dr. Semel is involved in training medical students and surgical residents in southern California. She is also involved in sports medicine, and has been treating college and professional athletes for many years.

JAMES M. VINCENT, MD: Diagnostics Advisor: Joining the Fritsche Capital Group Life Sciences Practice in the fall of 2006, Dr. Vincent is widely known as Seattle , Washington 's foremost consultant in urgent and complex diagnostic problems. In 1997, coming from a medical practice that has been a balance of office and hospital based patient care, Dr. Vincent played an instrumental role in the formation of the northwest's first Hospital Intensivist program, a program designed to allow physicians more time with critically ill patients. Since that time, this program has not only provided great enhancement to patient care at Swedish Medical Center in Seattle , but has now also become the norm throughout the country. As a result of this achievement, Dr. Vincent also serves as a Medical Director of the Swedish Medical Center Intensive Care Unit. Dr. Vincent graduated from Emory University School of Medicine in Atlanta in 1980, and in 1987 completed his training in Internal Medicine, Pulmonary Diseases, and Critical Care Medicine at the University of Washington . Since then, Dr. Vincent has been a Clinical Associate Professor of Medicine at the university, teaching medical students and doctors in training. Dr. Vincent has been recognized repeatedly in Seattle Magazine as a Top Doctor .

BARBARA J. QUINN, RN/NP: Research Associate-Clinical Trials: Ms. Quinn is a Nurse Practitioner who, as a Study Coordinator and/or Sub-Investigator, has been involved in developing and executing clinical trials for numerous drug and medical device companies for more than 15 years. Ms Quinn is employed at the UCLA Medical Center in the Department of Radiological Sciences where she has functioned as a Clinical Practitioner in Internal Medicine and Interventional Radiology for over 20 years; and from 1993 to 1997 developed and oversaw the Quality Assurance Program for that department. As such, she is able to provide a most meaningful level of guidance to both FCG and our clients in terms of assuring all clinical trial and study documentation is prepared and submitted in the most efficient manner. Having received national certification in wound management from University of Southern California in 1999, Ms. Quinn also functions as a wound specialist for patients with severe peripheral vascular disease; and has developed patient education programs that include diabetes management, breast health and wound healing. Ms. Quinn currently serves as a Clinical Preceptor for Nurse Practitioner students at UCLA, and is a Clinical Consultant/Educator for Genentech. Ms. Quinn is a graduate of Duquesne University 's School of Nursing in Pittsburgh , Pennsylvania , and received her Nurse Practitioner certification from Allegheny General Hospital .

Technology Practice:

GARY L. WALKER: Chairman, Technology & HCIT Practice: Mr. Walker brings 20+ years of experience in the software development industry to FCG, including application architecture, application infrastructure planning, systems architecture, research, guiding Internet application development initiatives, and tool evaluation/selection to solve business needs. As a consulting technical architect, he has held Consulting CTO positions with clients and technical lead and senior architect positions with firms such as Hallmark Cards, Qwest, Concert Telecommunications, Japan Communications, Federal Express and MCI on multi-million dollar projects. Mr. Walker is responsible for the architecture and implementation of several patented and patent-pending technologies. As such, Mr. Walker provides the additional benefit to FCG's clients by being able to evaluate and solve problems that may arise either with their software design or the design and deployment of their enterprise software systems. Likewise, he is able to provide the same level of expertise to our clients involved in the various segments of the telecommunication industry. Mr. Walker received his Bachelor of Science in Computer Science from the University of Colorado . Mr. Walker also serves as a member of the firm's Board of Directors.  

Outside Directors/Other Advisors:

D. BRUCE ELLSWORTH, CFA: Director: Mr. Ellsworth is Managing Director/Portfolio Manager of Huntley, Thatcher & Ellsworth, Inc., in Colorado Springs, Colorado. Previously, Mr. Ellsworth was the President and Chairman of the Board, and founder of Ellsworth Advisory Group, Inc., an investment counseling firm that was acquired by Cornerstone. Having more than forty years experience in the investment industry, Mr. Ellsworth has served with firms in New York and Chicago, to include the management of several mutual funds with assets in excess of $160 million while at E.W. Axe and Co. Since his arrival in Colorado Springs, Mr. Ellsworth has served as Senior Vice President and Manager of institutional research and sales for a regional investment banking firm, as well as co-founder and principal of Ramsay & Ellsworth, Inc., another investment counseling firm. Mr. Ellsworth and Mr. Fritsche have worked together in various segments of the investment industry for over thirty years. In addition to being an outside director of FCG, Mr. Ellsworth is a member of the firm’s Transaction Selection Committee. Mr. Ellsworth received his Bachelor of Science degree from Harvard College.

DAYLE EVAN FOWLER: Business Planning, Human Resources and Employment Law: Ms. Fowler is the retired Executive Vice President of The H.D. Fowler Company, Inc., an international underground utilities supplier, headquartered in Bellevue, Washington. Likewise, she is the former Vice Chairman of the Board of Directors and Senior Vice President of Corporate Relations of FCG. Having been very active in the corporate structuring and development of the firm, Ms. Fowler now advises FCG in the areas of Business Planning, Human Resources and Employment Law.

IN MEMORIAM:

On June 4, 2005, Richard (Dick) Steenken, our Senior Vice President & Director of Research lost his battle against cancer. A veteran of more than thirty-five years in the investment industry, Dick brought an invaluable level of expertise, wisdom, guidance and direction to FCG. Having held such positions as President and Founder of Barnes Circle Investments, Ltd, Managing Director and Portfolio Manager of the ARCO Investment Management Company (AIMCO), First Vice President of Blyth Eastman Dillon, Vice President of Kidder Peabody, and Senior Leisure Time analyst at Merrill Lynch Capital Markets, Dick enjoyed using his knowledge and experience to guide younger members of the FCG team. A Chartered Financial Analyst, Dick was also a former president of the Entertainment Analysts Group of the New York Society of Financial Analysts, and a member of the Institutional Investor All-America Research Team. Dick received his AB from Duke University, and his MBA from the New York University Graduate School of Business. Dick's humor, friendship and willingness to always do whatever possible to assist in the growth of our firm will be greatly missed by all of us.