JOE GLENN SMITH, PhD, CPA1801 High Falls Lane

Pearland (Houston), Texas USA 77581

+1-713-298-6130

EMPLOYMENT HISTORY

Minuteman Capital LLC, Houston, TexasJun 2016–present

President & Managing Member

Created to trade & invest in financial markets for the purpose of generating current & retirement income for its Members & clients.

Cook Legal Group, Houston, TexasJan 2014–Dec 2015

Senior Business Advisor

Employed by local tax law firm to provide tax & estate planning & tax preparation services, state & federal income tax returns (individual 1040/estate 1041/partnership 1065/corporate 1120).

Doeren Mayhew CPAs and Advisors, Houston, TexasSep 2011–Dec 2013

Senior Business Advisor

Employed by local public accounting firm to deliver accounting/bookkeeping, consulting (m&a buy-/sell-side due diligence) and litigation support (forensics) services. Additionally, assigned to audit and tax practices to provide attestation (reviews/compilations)/assurance services (perform personnel inquiry/interviews, analytical procedures, reperformance, risk assessment/testing of controls/balances/transactions), tax planning and preparation of federal income tax returns (individual 1040/estate 1041/partnership 1065/corporate 1120), respectively.

University of Houston Downtown, Houston, TexasJan 2011–present

Visiting & Adjunct Professor of Economics & Accounting

Have taught undergraduate introductory, intermediate & graduate-level micro- & macro-economics, econometrics, statistics, Soviet economic history financial & managerial accounting via traditional classroom and online settings as well as conducted research for peer-reviewed publication. Since graduate school, more than 100 university undergraduate and graduate courses taught at a variety of institutions in the US and internationally in a variety of sub-disciplines including econometrics, statistics, comparative economic theory & Soviet economic history & corporate & individual income tax.

PricewaterhouseCoopers, Moscow, RussiaJul 2007–Jul2010

ExperiencedManager

Employed by the global Big Four accounting, tax and advisory partnership to perform and manage financial due diligence assignments in connection with business acquisitions in the region. Sample duties and capabilities:

  • Assisted acquirers evaluate targets, improve M&A process, set post-close priorities and assess how target generates cash and performs on operational measures. Identified possible risks in foreign operations and evidence of operational weakness. After deal closure, counseled targets on improving internal controls governing its financial, IT, back office, supply chain and customer management systems and processes.
  • Experience interviewing executive management at target companies, as well as assessing a target company's quality of earnings, net assets, and cash flows.Assisted clients to anticipate, create and manage change, respond to crises, improve business processes, and transform their business.
  • Possess strong aptitude for resolving technical accounting and reporting issues especially pertaining to business combinations. Responsible for preparing/writing engagement report deliverable, engagement profitability including billings and collections, formulating and communicating the audit plan, and training/supervising junior staff.

Sample engagements and deliverables:

  • Seconded to PwC US to help manage theirFTLEDD engagement with Pittsburgh-based US Steel involving theUSD750 million acquisition of Slovak steel producer VSZ and eight European steel trading affiliates. Deliverables: Financial due diligence procedures performed and managed on each subsidiary including thecoordination of associated tax, legal and environmental due diligence procedures with PwC local affiliates in each city (London, Paris, Brussels, Dusseldorf, Vienna, Budapest, Bratislava, Moscow).
  • Retained by Korean Daewoo Shipbuilding & Marine Engineeringin connection with acquisition of Moscow-based independent start-up gas supplier ZAO (privately-held) Eurotek possessing hydrocarbon assets (leases acquired through State auction) in western Siberia and Yakutia (near Artic Circle), both in close proximity to properties owned by majority shareholder and seller Russian gas major Gazprom. Standard Financial & Tax DD procedures were performed. Key deal issues identified were company’s 100% share-pledge to Moscow-based MDM Bank for capital development loan facilities totaling USD250 million and claw-back provision of all balance sheet-recorded USD400 million lease assets together with forfeiture of associated auction-related deposit receivables of USD40 million if capital development was not completed within a quickly-approaching time window.
  • Retained by Korean National Oil Company (KNOC) in connection with purchase(est.USD1 billion) of Russian oil giant Rosneft subsidiary Siberia-based ZAO(privately-held) Krasnoyarsk Oil Company (KNK).Target was still in development stage and yet to commence oil and gas production but possessed enormous reserves (515 million tons of geologically recoverable oil and 106 billion cubic meters of natural gas), as well as pipeline connections valued at USD300 million to Transneft & ESPO (Eastern Siberian-Pacific Ocean) networks. Consequently, FDD procedures focused principally on existing financial and tax positions, contractual arrangements, and conversion of RAS (Russian) financial statements to IFRS, resulting in considerable net asset reclassifications (USD20 million). Key deal issues identified were stringent license obligations, interest-free loans exceeding USD500 million from parent, including significant off-balance sheet arrangements (thus transfer price risks), unpaid tax liabilities (resulting in current tax audit) and unrecoverable VAT assets (USD30 million).

Input-Output, Inc., Houston, TexasMay2004–May2007

Senior Financial Analyst/Finance Manager

Employed bypublically tradedsmall-cap oil & gas technology (seismic) company to manage keyfinancial functions for largest business division (USD250 million annual turnover), including forecasting, budgeting, reporting, developing business strategies and profitability goals.

Sample duties and accomplishments:

  • Reduced accounting cycle close time from 2 months to 2 weeks saving the company more than USD50 million annually in deferred sales recognition.
  • Responsibility for division’s revenue recognition and monthly/quarterly reconciliations and reporting of external income statements. Assisted CFO with SEC compliance: preparation of 10-Q/10-K reports/Schedule M reconciliation, SFAS 133 (derivative) accounting.
  • Monthly reporting of internal gross margin by country and product line. Monthly calculation of direct operating expenses associated with R&D expenses. Monthly reporting of operating expenses to department directors. Monthly sales & cash flow forecasting and budgeting.
  • Management of quarterly audits of fixed assets, consigned inventory and SOX (Sarbanes-Oxley) 404 internal control compliance(incl. SSAE 16 readiness assessments) for domestic/international offices.
  • Assisted corporate office implement and enforce financial/internal controls, develop annual/5-yr plans and analysis of actual result variances.
  • Assisted in implementation of financial/operations ERP data management platform conversion.

Barents Group, Moscow, Russia and Washington DCJan 2000–Dec 2003

Senior Economics Advisor

Employed by a Washington-based consulting firm in connection with USD2.5 million mandate for Agency for International Development (USAID) as technical advisor to Russian Government. Duties included training of government committee staff in western economic policy formulation, developing sophisticated, integrated economic structural forecasting models, assisting legislators in formulating appropriate policy recommendations.

Public Utility Commission of Texas, Austin, TexasJun 1998–Dec 1999

Senior Economist

Employed by state regulatory body to advise government officials on energy policy, specializing in matters of de-regulation, anti-trust and risk management. Duties included provision of written and oral expert legal testimony in state court petitions and economic modeling, most notably development of proprietary power transmission-constraint model to estimate market power in Texas in connection with proposed mergers with in- and out-of state utilities.

EDUCATION

Texas A&M University

  • Doctor of Philosophy – Tax Accounting (expected 2018)

University of Houston

  • Doctor of Philosophy – Economics (May 1994); Thesis advisors: Paul R Gregory, Stanford’s Hoover Institute & Irwin L Collier, Free University of Berlin
  • Master of Arts – Economics
  • Bachelor of Arts – Russian Studies (Cum Laude; Outstanding Graduate Award recipient)
  • Bachelor of Science – Economics (Cum Laude).

CERTIFICATIONS

Certified Public Accountant (Jan 2014, State of Texas, USA)

PUBLICATIONS

‘Comparison of the Bangladeshi and US Economies in the Aftermath of the Global Financial Crisis of 2007: A Long-term Event Analysis’ with MM Ali et al., Australian Journal of Business (January 2015).

‘Measuring the effects of quantity constraints on international comparison indices,’ Journal of Business & Economic Perspectives (June 2012).

‘Measuring the effects of quantity constraints on consumer choice in the centrally-planned economy,’ AIMS International Journal of Management (July 2012).

‘Feasibility Study & Business Plan for a Hypothetical Bank in Bangladesh’ with MM Ali et al., Australian Journal of Business (August 2012).

‘Macro-econometric forecasting & public policy in the new Russian market economy (in Russian),’ Iskra (May 2000).

‘Anti-trust implications of transmission constraints in the Texas electricity market’ American Public Utilities Journal (May 1998).

FOREIGN LANGUAGES

Russian (Fluent, 25 years), German (Basic, 10 years).

AFFILIATIONS

  • American Institute of Certified Public Accountants
  • Texas Society of Certified Public Accountants
  • Council of Petroleum Accountants Societies
  • American Accounting Association
  • American Economics Association