The Company operates at railroad terminal locations throughout the United States and provides repair services to the Intermodal Industry.

The Company was the sole member of Fall Back Trucking, LLC, and licensed interstate motor carrier operating in the Great Lakes region.

FDP was engaged to prepare the Company monthly finance forecast, assist with the Company’s debt refinancing, and to assist with additional profit improvement opportunities.

From the onset of the engagement, FDP noted the Company was in a significant liquidity crisis despite reported net income and increasing sales volumes.  Upon review, FDP noted:

–Receivables had been misreported on the borrowing base, and

–The Company significantly underreported trade payables.

–Additionally, Inventory was improperly reported at sales price, instead of cost.

–Resulting restatements to the Company’s financials forced the Company to report operating losses.

FDP changed course and developed a plan to address cash crisis by initiating expense reductions and negotiating vendor payment plans to address short-term cash issues.

Once executed, the Company began generating positive cash flows.

FDP then assisted the Company in moving its banking relationship to a smaller, local bank.

FDP identified a significant liquidity crisis and executed a plan that corrected the existing cash burn.

FDP successfully refinanced the Company’s debt with another local lender providing more availability for operations.