Launched in 1999, Creditntell.com is a retail credit consulting firm monitoring public and private retailers across several sectors, including apparel, auto parts, electronics, mass merchandise, home center sporting goods, and department stores, among others. Headquartered in Great Neck, NY, Creditntell.com is a privately held company affiliated with Information Clearinghouse, Inc. (ICI) through common principals and officers. The three key executives of Creditntell.com collectively have over 100 years of credit and insolvency management experience and, as such, the Company is uniquely positioned to provide a perspective superior to other financial reporting services.

The Creditntell Team
LAWRENCE SARF Chief Executive Officer
larrys@creditntell.com 800-789-0123 Ext. 102

Lawrence Sarf has over 45 years of hands-on, practical business/finance experience covering numerous retail & wholesale industries. Larry's experience and industry knowledge has made him a recognized and respected expert in financial, operational, marketing and insolvency matters. He is called upon frequently to evaluate acquisitions and divestitures from his unique perspective within all relevant disciplines. He has also served as a consultant and/or advisor to creditors' committees in both formal bankruptcy and out-of-court settings and has participated in well over 1,000 insolvency proceedings. He has been formally appointed as operating receiver and Bankruptcy Advisor in a number of bankruptcies, including several high-profile cases in the New York area. Larry's intimate knowledge of the ins and outs of insolvency cases and what precedes a trip to the courthouse, gives him the inherent ability to spot the signs of a troubled company heading for a reorganization and impart that knowledge to subscribers well in advance of outward signs. In many instances, Larry's insights have afforded subscribers the opportunity to avoid 'costly' involvement in Chapter 11 case filings.

KEVIN SLACK Division President - Creditntell / Executive Vice President - ICI
kevins@creditntell.com 800-789-0123 Ext. 103

Kevin Slack's areas of expertise are in the retail and wholesale food and drug industries, where he spent 25 years in senior credit management positions with Sterling Drug Co. and Ward Foods. While in these positions, he gained extensive experience in all facets of the order cycle, including Credit Risk, DSO, Deductions/Dilution and Bad Debt Best Practice receivable process improvements, as well as A/R Systems implementation and integration. Kevin was an industry peer group leader in food, health and beauty care and pharmaceuticals. Kevin served as chairman of the National Health & Beauty Care Credit Group, as a member on the Trade Relations Committee of the NHBCG and the National Food Manufacturers Credit Group, and was a co-founder of the National Candy and Tobacco Manufacturers Credit Corp.

STEVEN DOVE Division President - F&D Reports / Executive Vice President - ICI
steved@creditntell.com 800-789-0123 Ext. 121

Steve joined Information Clearinghouse in 1998 after a 25-year career with Borden, Inc. (a multi-national conglomerate) where he gained extensive knowledge of virtually all facets of treasury, from finance and credit/receivable management to distribution and marketing. In addition, Steve participated in bank facility negotiations, M&A activity, and rating agency presentations. He was active on the boards of directors at several national trade credit groups, including the National Food Manufacturers Credit Group where he served as vice chairman of the Trade Relations Committee and vice chairman of the Claims Committee. He has extensive understanding and expertise in the defense of Avoidance Actions with emphasis on Preferential Transfers. In that capacity he has successfully defended dozens of Trustee demands with a very high success rate delivering settlements averaging less than 10% of the initial demand. He has been recognized and appeared as an Expert Witness in Federal Bankruptcy Court as relates to credit management Industry Practice. In his current position, he oversees all matters with respect to the F&D Reports division of ICI.

DENNIS CANTALUPO MBA, Chief Operating Officer - Creditntell
dennisc@creditntell.com 800-789-0123 Ext. 110

Before joining Creditntell, Dennis began his career with Chase Manhattan Bank's Corporate Bond Underwriting group. In this position, Dennis helped high-profile corporations raise needed capital through the issuance of debt instruments. Since joining the Creditntell analyst team in May 2000, Dennis has conducted in depth analyses of high-risk companies and has been especially instrumental in the continued development of Creditntell's products & services. In his current role as Chief Operating Officer, Dennis manages the day-to-day operations of Creditntell, including the analyst department, product development, marketing, and web development. Dennis is frequently invited to speak at numerous retail industry group meetings including: International Council of Shopping Centers, Toy Industry Association, National Consumer Products Credit Group, Athletic Credit Exchange, Golf Manufacturers Credit Group, Outdoor Products Manufacturers Group, and others. Dennis received a BS in Finance from the University of South Florida and his MBA in Accounting from Colorado Technical University.

CHUCK LeWINTER Vice President of Sales & Marketing
chuck@creditntell.com 800-789-0123 Ext. 150

When Chuck joined Creditntell.com, he brought with him over 25 years of sales and marketing experience. As a previous owner of a sportswear manufacturing company, Chuck has maintained relationships with the leading department stores, mass merchants and specialty retailers throughout the country. He has firsthand knowledge in all areas of "compliance," including chargebacks, deductions, freight, packaging, assortments and markdowns. Chuck has served on a creditors' committees and fully understands the demands and challenges of a credit department. His comprehensive understanding of all products and services at Creditntell.com have contributed greatly to Creditntell.com's growth.

JOSHUA SUFFIN Vice President of Real Estate Services
joshs@creditntell.com 800-789-0123 Ext. 172

Soon after attaining his BA in Entrepreneurship from Hofstra University, Josh joined Creditntell in September of 2011. Over the course of the next two years he utilized his skills to introduce new marketing initiatives and create new product offerings, with a concentration in the retail real estate segment, earning a promotion to Chief Production Officer. Through his diligent efforts with key players in this growing customer base he has been able to innovate a new array of services and networking events tailored to meet this diverse industry's specific needs and applications. Equipped with extensive real estate expertise and an expansive network, Josh was appointed Vice President of Real Estate Services and now leads the company's efforts with this major sector.

ANTHONY LOBOSCO Senior Vice President, Marketing
anthony@fdreports.com 800-789-0123 Ext. 113

Tony spent 25 years with the Bell System in various positions in sales, marketing, product management and personnel. As director of sales and marketing, he was responsible for managing several Fortune 500 companies' telecommunications needs and overseeing a revenue stream of over $25 million. He began at F&D Reports in 1996 in customer service, for which he visited customers nationwide and gathered critical intelligence. Tony has since spearheaded many of the Company?s new product introductions, such as its Credit Executive Study Program, Customer & Market Insights and Hot Market reports. He is responsible for servicing a portion of F&D's national account portfolio.

ALBERT FURST MBA, Chief Operating Officer - F&D Reports
albertf@creditntell.com 800-789-0123 Ext. 147

Albert joined F&D Reports/Creditntell.com as a Senior Financial Analyst in 1998. As Chief Operating Officer, today Albert oversees the daily operations of F&D Reports and the analyst department. He has been the lead analyst in the Food Sector and grocery space since 2001 and is responsible for analyzing high-risk accounts, overall retail coverage and products as well as a client liaison. Albert was previously with The Chase Manhattan Bank, where he headed up the multi-billion dollar cash management operations of its Franklin Templeton Mutual Fund relationship. Albert received a BS in Accounting from Binghamton University and an MBA in Corporate Finance from Hofstra University's Frank G. Zarb School of Business.

MICHAEL BLACKBURN MBA, CCM, Vice President
mikeb@creditntell.com 800-789-0123 Ext. 131

Prior to joining Creditntell.com, Michael had over 10 years of corporate treasury and risk management experience in the manufacturing, service and retail industries. Immediately prior to joining Creditntell.com, Michael was responsible for all the treasury management and financial planning functions with a retail golf company then in Chapter 11, and also managed that company's financial and vendor relations during its reorganization. Michael is responsible for monitoring the food and drug retail segments as well as conducting educational and training programs for customers, covering various financial topics and retail segments. Michael received his MBA from the University of Colorado at Boulder and a BS in Finance from the State University of New York at Albany.

ROBERT MARZO Division President - ARMS
robertm@fdreports.com 800-789-0123 Ext. 173

Robert joined F&D Reports as a financial analyst in June 2004. Immediately prior to joining F&D Reports, Robert worked as a business analyst at a Fortune 500 company where he provided business support in various areas, including the preparation and submission of monthly and year-end P&L reports. As Division President, Robert oversees the daily operations of the credit department, including managing the website, developing products as well as client relations. Robert is also the head analyst of the foodservice segment. Robert graduated from Stony Brook University with a degree in Economics and Business.

DAVID SILVERMAN MBA, JD, CPA, Vice President - Creditntell
daves@creditntell.com 800-789-0123 Ext. 119

David joined ICI as a Financial Analyst in September 1995. Previously, David was a financial analyst for Data Broadcasting Corporation, a provider of business financial information. At Data Broadcasting, David was responsible for budgeting, cash flow, variance and merger and acquisition analysis, including evaluation of debt financing alternatives. At F&D Reports, David monitors the electronics and home center industries. David helped develop the Company's Credit Executive Training Program and has conducted several of the seminars. David has also prepared Debt & Covenant Analyses on monitored companies. David received a BS in Management and an MBA in Accounting from the University of Florida.

JAMES RICE Vice President - Creditntell
jimr@creditntell.com 800-789-0123 Ext. 127

Jim joined Creditntell.com/F&D Reports as a senior analyst in February 2007, bringing with him 30 years of credit industry experience. Previously, Jim was an equities analyst for Susquehanna Financial Group and spent 14 years as an EVP of Bernard Sands. Jim also worked in various credit capacities in the factoring industry. At Creditntell.com, Jim monitors Mass Merchandisers and Department Stores. Jim received his BA from Hunter College and did his post-graduate studies at St. John's University.

JESSICA SHUSTERMAN President - Research
jessical@creditntell.com 800-789-0123 Ext. 109

A graduate of Columbia University, Jessica joined Creditntell in June 2000. With almost a decade of experience, she has acquired extensive financial research, writing and editorial skills, primarily within the food and drug sectors. Jessica's editorial pieces can be found in the Company's weekly newsletters, and she is a primary contributor to Private Retail Drug RxTRA Reports.

JOSEPH COSTELLO Chief Information Officer
josephc@creditntell.com 800-789-0123 Ext. 112

Joseph Costello serves as Chief Information Officer of Information Clearinghouse Inc., providing overall technology leadership for the corporation and its businesses and working with business management to expand the application of effective technology solutions across the enterprise. Joseph brings to our organization over 18 years of global information technology experience with Fortune 500 companies like Citigroup and McGraw-Hill, and across several industries including financial, education, publishing and information services.

GINA PASCUZZO Assistant VP of Client Support Services - ARMS
ginap@fdarms.com 800-789-0123 Ext. 185

Gina began her position as a Clients Relations Coordinator after graduating from Long Island University in 2009 with a Bachelors in Marketing and Advertising. As Assistant Vice President of Client Support Services for the ARMS division, Gina is responsible for introducing new products and maintaining relationships with new and existing clientele.

JEFF CORPIEL Senior Analyst
jeffc@creditntell.com 800-789-0123 Ext. 129

Trained at a major money market center bank, Jeff has 30 years experience as a credit professional, performing complex credit analyses in areas that support the lending function. During his last ten years in banking, he joined Loan Review, where he worked with bank management to analyze different types of loans. Most recently, he served as a senior analyst for the home center industry, a role he continued upon joining Creditntell in May 2007. Jeff received a BA from City College of New York.

MICHAEL INFRANCO Senior Analyst - Food Retail and Wholesale, Convenience Stores
mikei@fdreports.com 800-789-0123 Ext. 126

Prior to joining F&D Reports, Michael served in various analytical capacities during a 20 year career at Standard & Poor's where he was responsible for designing and managing financial models, providing investment recommendations, and performing financial valuations and research necessary to rank portfolios of stocks. In addition, Michael played a key role in developing and implementing new products and content for their equity research group. Michael received his MBA from Regis University in Denver and a BBA in Finance & Investments from Baruch College, City University of New York.

GARY WEBER Senior Analyst
garyw@fdreports.com 800-789-0123 Ext. 152

Prior to joining F&D Reports in early 2015, Gary was a finance manager in the payments industry. He has also been a director of finance in the software industry, where he was responsible for analyzing performance results as well as forecasting expected financial results. In addition, he spent several years as a biotechnology equity analyst and has been a business analyst in the pharmaceutical industry, where he evaluated products, product lines, and companies for potential acquisition. As a Senior Analyst at F&D, Gary covers pharmaceutical wholesaler/distributors and healthcare companies as well as deep discount retailers and mass merchandisers. Gary received a BS in Biology from Cornell University and an MBA in Finance from the University of Rochester.

JESSE LEE Retail Analyst
jessel@fdreports.com 800-789-0123 Ext. 114

Jesse joined F&D Reports in September 2013. His coverage includes the restaurant, movie theatre, and specialty retail segments. Previously, Jesse was an investment research analyst at a wealth management group, creating investment solutions for his clients. He received his BA in Finance from Villanova University.

ALAN LEE Retail Analyst
alanl@fdreports.com 800-789-0123 Ext. 146

Alan joined F&D Reports as a Retail Analyst in April 2014. He covers multiple companies in retail and wholesale food with an emphasis on the healthy living space as well as Canadian food coverage. Alan received a BS in Finance and Accounting and a MS in Accounting from the Stern School of Business at NYU.

RAMONA BOLOZAN Director of Analytical Support / ARMS
ramonad@creditntell.com 800-789-0123 Ext. 124

Ramona Bolozan joined F&D Reports as a financial analyst in 2008 and was promoted to Director of Analytical Support / ARMS in 2013. During her tenure with the company, Ramona has held positions of increasing responsibility, making significant contributions to the analyst, credit and sales support departments. In her current role, she provides analytical, brand strategy and product development support, and she leads the company's international efforts, including overseeing the international credit team and maintaining and expanding the international database. Ramona received a BA in Finance & Investments from Baruch College, City University of New York.

JENNIFER COLEMAN Project Analyst
jenniferc@creditntell.com 800-789-0123 Ext. 122

Jennifer joined Creditntell.com in 2003 as a member of the sales department, where for several years she successfully met client needs and gained vast knowledge of all aspects of the business. Because of her understanding of the financial industry, Jennifer seamlessly shifted to the Analyst Department. In addition to preparing Monthly Sales Reports, Quarterly Retail Sales Reports, Executive Reviews, and a number of other Creditntell products, she plays a key role in the development and maintenance of the Company's websites. Jennifer earned her bachelor's degree from St. John's University.

MARYELLEN COLLOM Operations Manager
maryellenc@creditntell.com 800-789-0123 Ext. 125

Mary Ellen joined the Company as an analyst in October 2000, after working in banking, credit and accounting roles across various organizations. She has taken a lead role in developing operational efficiencies, integrating financial software and creating new products such as the Executive Review. In 2006, she was promoted to Operations Manager, where she now oversees daily operational issues, SEC filing reviews, new project initiatives, training and website quality control issues. Mary Ellen graduated with high honors with a BS in International Business from Johnson & Wales University.

LORI ZIEGLER Sales Representative
loriz@creditntell.com 800-789-0123 Ext. 148

Before joining the Creditntell sales team and completing her educational programs, Lori made a name for herself in the real estate community, heading up the sales team for a National Title Insurance Company. Lori has become an integral part of Creditntell.com's customer service initiatives and sales efforts.

CASSANDRA KASPARIAN Director of Research
cassiek@creditntell.com 800-789-0123 Ext. 136

A graduate of the University of Pennsylvania, Cassandra Kasparian has over ten years' experience as a writer, editor and web developer within a variety of organizations, including a literacy research center at a major university, a management consulting firm and an insurance company. Since joining F&D, Cassandra has been a key member of the research team and has taken a lead role in the production of newsletters and reports as well as contributed to the Company's web development initiatives.

MARY BETH MULLARKEY Research Analyst
marybethm@creditntell.com 800-789-0123 Ext. 188

After developing her writing and editing skills as an undergraduate at York College of Pennsylvania, Mary Beth joined the Research Team at Creditntell in June 2008. Since then, she has been responsible for the content of weekly newsletters and reports, including the Foodservice Sector Newsletter and Foodservice Sector Reports. She is currently the primary contributor to monthly Strategic Growth Insights and Customer & Market Insights reports.