The Company is a road-building contractor with the State's Department of Transportation ("DOT") as its primary customer.

The Company also sells its ready-mix concrete to customers located near its headquarters and ready-mix plant.  During construction season, the Company provides commercial snow removal services.

The Company is family-owned with the 3^rd and 4^th generations active in day-to-day operations and decision-making.

The Company engaged Fort Dearborn Partners ("FDP") to review and adjust the Company's 13-week cash flow forecast and 2020 financial forecast.  Additionally, FDP assisted management in the preparation of the 2021 financial forecast.  FDP also identified opportunities for improving the Company's profitability and cash flow.

For 2020, the Company anticipated a $5.2M net loss, before PPP loan forgiveness, on roughly $25M in revenue.  In 2019, the Company generated $3.65M of net income on $62M of revenue.  Additionally, the Company expected negative cash flows of roughly $1.7M from September 2020 through December 2020, and management anticipated potential cash needs exceeding $4M through April 2021, with limited availability to borrow additional cash from their lender.

FDP prepared a 13-week cash flow to identify the extent of the cash burn.  FDP also worked with management to immediately reduce expenses and negotiate contract dispute settlements, which resulted in nearly $2.5M of immediate cash inflows.  Management negotiated six-month lease payment deferrals resulting in a $200 thousand to $300 thousand reduction in near-term cash disbursements.

Finally, FDP worked with management to secure a 2^nd round $2M PPP loan and roughly $500 thousand of employee retention credits ("ERC") that boosted cash flows.

Entering the 2021 construction season, the Company is well-positioned with roughly $2M in cash and nearly $6M in availability to borrow.

Through continued expense reduction, the Company expects to generate positive cash flows in 2021.