Gift Certificates.com Division: Phoenix Capital Resources, Phoenix Management Services Client Gift Certificates.com was a $65 million privately held E-commerce Company located in Seattle, WA. Problem A venture-backed start-up that had become the leading provider of gift certificates and related services to corporate clients and consumers had spent the vast majority of a $50 million preferred stock issuance. Compounding problems was the fact that the IPO market, upon which it had been relying for future funding, had dried up. The Board had lost confidence in the CFO and recognized that it needed to augment the skill set of the CEO and Founder. Solution Phoenix assumed the role of CFO, developed a credible financial forecast, and raised $13 million of convertible debt just as the Company was

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