BNET Industries
Market Cap:$5.5M
Last Fiscal Year Sales:$2.8M
- Public
- US
Dow Jones Description
Prior to January 19, 2007, we were a development stage company. On January 19, 2007, we acquired all of the outstanding capital stock of First Performance Corporation, a Nevada corporation (First Performance), and its wholly-owned subsidiary, First Performance Recovery Corporation, pursuant to a Stock Purchase Agreement dated January 19, 2007. As a result, we are no longer considered a development stage entity. Since completing initial product development in early 2004, our primary business has been providing a software solution to consumer lenders or those collecting on those loans based on our proprietary Debt Resolve system, our Internet-based bidding system that facilitates the settlement and collection of delinquent and defaulted consumer debt via the Internet. We have marketed our service primarily to consumer credit card issuers, collection agencies, collection law firms and the buyers of defaulted debt in the United States and Europe. We intend to market our service to other segments served by the collections industry worldwide. For example, we believe that our system will be especially valuable for the collection of low balance debt, such as that held by utility companies and online service providers, where the cost of traditionally labor intensive collection efforts may exceed the value collected. We also intend to pursue past-due Internet-related debt, such as that held by sellers of sales and services online. ...
Interim Chief Executive Officer, President, Chief Financial Officer, Secretary and Treasurer
David M. RaineyNumber of Employees 30
Contact Information
707 Westchester Ave Ste L7
White Plains, New York 10604
(914) 949-5500
Peer Companies
NAICS Code Collection Agencies: 561440
Recent Events
-
Debt Resolve names board member
-
Debt Resolve Closes Financing Round
-
Debt Resolve restructures balance sheet; board member resigns
-
Debt Resolve CEO steps down
Decision Makers
| Name (plus bio) | Position |
|---|---|
| David M. Rainey | Interim Chief Executive Officer, President, Chief Financial Officer, Secretary and Treasurer |
| Kenneth Montgomery | CEO |
| Howard Knauer | President, Drv Capital |
| Richard Rosa | President, Cto |
| Katherine Dering | Chief Financial Officer, Treasurer and Secretary (Principal Financial and Accounting Officer) |
| Robert Visnov | CIO |
| John Grimm | Vice President of Sales |
| Rene Samson | Vice President, Information Technology |
| Tony Sakovsky | Vice President, IT |
| Robert Dunham | Founder of Receivables Management Solutions |
| Charles S. Brofman | Director and Co-Founder |
| Sandra L. Styer | Senior Vice President and Director of Client Services |
| Dan Casey | Manager of Operations |
| Ehmonie Hainey | Senior Manager, Marketing, Public Rel & IR |
| Shakirra McKinley | Senior Manager, Client Services |
| Marc Rigeuer | Controller |
| Marc Rigueur | Controller |
| Chris Steele | Consultant |
| Denis Dirin | Senior Systems Developer |
| Jeffrey S. Bernstein | Private Consultant |
| William Mooney | Director |
Board of Directors
| Name (plus bio) | Position |
|---|---|
| James D Burchetta | Co-Chairman & CEO, Director |
| Don Whittaker | Chairman |
| Jamie T Buckley | Board of Directors |
| Richard Singer | Board of Directors |
David M. Rainey has been our President and Chief Financial Officer, Treasurer and Secretary since January 2008. Mr. Rainey is also currently Interim Chief Executive Officer. Prior to January 2008, Mr. Rainey was our Chief Financial Officer and Treasurer since joining the company in May 2007, and also became our Secretary in November 2007. Previously, Mr. Rainey was Chief Financial Officer and Treasurer of Hudson Scenic Studio during 2006. Mr. Rainey was Vice President, Finance and CFO of Star Gas Propane from 2002-2005. Earlier in his career, Mr. Rainey spent over thirteen years with Westvaco Corporation in a variety of financial roles of progressive responsibility, including Controller of the Western Region of a division of the company. Mr. Rainey received his B.A. in Political Science from the University of California, Santa Barbara and his law degree and MBA in Finance from Vanderbilt University. Mr. Rainey is a member of the Tennessee bar. All directors hold office until the next annual meeting of stockholders and the election and qualification of their successors. Officers are elected annually by our board of directors and serve at the discretion of the board, subject to their contracts.
| Organization | Position | Status |
|---|---|---|
| Debtresolve, Inc. | Interim Chief Executive Officer, President, Chief Financial Officer, Secretary and Treasurer | Current |
| Debtresolve, Inc. | President & CFO | Current |
| Vanderbilt University | MBA In Finance | Former |
| University of California, Santa Barbara | B.A. In Political Science | Former |
| Vanderbilt University | Degree | Former |
| Organization | Position | Status |
|---|---|---|
| Debtresolve, Inc. | Co-Chairman & CEO, Director | Current |
| Cybersettle, Inc. | Co-Founder | Current |
| New York State Bar Association | Board of Directors | Current |
| New York State Bar Association | Member | Current |
| Cybersettle, Inc. | Co-Chief Executive Officer | Former |
| Cybersettle, Inc. | Chairman of the Board | Former |
| Fordham University Law School | J.D. Degree | Former |
| Villanova University | B.A. Degree | Former |
| Organization | Position | Status |
|---|---|---|
| Debtresolve, Inc. | CEO | Current |
| Debtresolve, Inc. | Board of Directors | Current |
| Pentegra | Chief Executive Officer | Former |
| Pentegra | President | Former |
| Chemical Banking Corporation | Managing Director | Former |
| The University of Tennessee | B.S. In Accounting | Former |
| Organization | Position | Status |
|---|---|---|
| Debtresolve, Inc. | President, Drv Capital | Current |
| Debtresolve, Inc. | Senior Vice President and Director of Collection Strategies and President | Current |
| National Credit Services | Senior Vice President of Marketing | Former |
| Citibank, N.A. | Vice President | Former |
| Chemical Banking Corporation | Vice President | Former |
| Chemical Banking Corporation | Consumer Recovery Manager | Former |
| City College Inc | B.A. Degree | Former |
Richard Rosa is the architect of the Cybersettle system and former Director of Technology for 1-800-Flowers.com.
| Organization | Position | Status |
|---|---|---|
| Debtresolve, Inc. | President, Cto | Current |
| Babygear | Chief Technology Officer | Former |
| City University of New York | B.A. Degree | Former |
| Organization | Position | Status |
|---|---|---|
| Debtresolve, Inc. | Chief Financial Officer, Treasurer and Secretary (Principal Financial and Accounting Officer) | Current |
| Provident Bank | Cfo | Former |
| First American Bank | Senior Vice President | Former |
| Debtresolve, Inc. | Senior Vice President, Finance | Former |
| First American Bank | Divisional Controller | Former |
| University of Minnesota | M.B.A. | Former |
| Manhattanville College | M.A. Degrees | Former |
| State University of New York at Buffalo | M.A. Degrees | Former |
| Le Moyne College | B.A. Degree | Former |
| Organization | Position | Status |
|---|---|---|
| Debtresolve, Inc. | CIO | Current |
| Authentidate, Inc. | Chief Technology Officer | Former |
| J.P. Morgan Investment Management | Vice President of Software Development | Former |
| Organization | Position | Status |
|---|---|---|
| Debtresolve, Inc. | Vice President of Sales | Current |
| Organization | Position | Status |
|---|---|---|
| Debtresolve, Inc. | Vice President, Information Technology | Current |
| Debtresolve, Inc. | Manager of Application Development | Former |
| Organization | Position | Status |
|---|---|---|
| Debtresolve, Inc. | Vice President, IT | Current |
| Debtresolve, Inc. | Director of Technical Operations | Current |
| Organization | Position | Status |
|---|---|---|
| Debtresolve, Inc. | Founder of Receivables Management Solutions | Current |
| Debtresolve, Inc. | Board of Directors | Current |
| Organization | Position | Status |
|---|---|---|
| Dk-Studio | President and Chief Executive Officer | Current |
| TEMPE12 | President and Chief Executive Officer | Current |
| Cybersettle, Inc. | President and Chief Executive Officer | Current |
| Debtresolve, Inc. | Director and Co-Founder | Current |
| New York State Bar Association | Board of Directors | Current |
| Debtresolve, Inc. | Board of Directors | Current |
| Cybersettle, Inc. | Director | Current |
| New York State Bar Association | Member | Current |
| Cybersettle, Inc. | Founder | Former |
| Hanley Company, Inc. | Senior Partner | Former |
| Debtresolve, Inc. | Co-Chairman & Director | Former |
| Cybersettle, Inc. | Principal | Former |
| Fordham University Law School | J.D. Degree | Former |
| City University of New York | B.S. Degree | Former |
| Brooklyn College | B.S. Degree | Former |
| Organization | Position | Status |
|---|---|---|
| Debtresolve, Inc. | Senior Vice President and Director of Client Services | Current |
| MYOB Limited | Director of Marketing | Former |
| Indiana University | B.A. Degree | Former |
| Organization | Position | Status |
|---|---|---|
| Debtresolve, Inc. | Manager of Operations | Current |
| Organization | Position | Status |
|---|---|---|
| Debtresolve, Inc. | Senior Manager, Marketing, Public Rel & IR | Current |
| Debtresolve, Inc. | Public Relations Coordinator | Former |
| Organization | Position | Status |
|---|---|---|
| Debtresolve, Inc. | Senior Manager, Client Services | Current |
| Organization | Position | Status |
|---|---|---|
| Debtresolve, Inc. | Controller | Current |
| Organization | Position | Status |
|---|---|---|
| Debtresolve, Inc. | Controller | Current |
| Organization | Position | Status |
|---|---|---|
| Searchmyloan | Consultant | Current |
| Seaad | Consultant | Current |
| Debtresolve, Inc. | Consultant | Current |
| Long Island Swimming | Consultant | Current |
| Twistage, Inc. | Board of Directors | Current |
| Ranieri Ltd | Former | |
| Hofstra University Law School | J.D. | Former |
| Organization | Position | Status |
|---|---|---|
| Debtresolve, Inc. | Senior Systems Developer | Current |
| Organization | Position | Status |
|---|---|---|
| Debtresolve, Inc. | Private Consultant | Current |
| Debtresolve, Inc. | Board of Directors | Current |
| Fair Isaac Corporation | Manager | Former |
| Fair Isaac Corporation | Senior Consultant | Former |
| MasterCard Advisors, LLC | Global Solutions Leader | Former |
| Utica College | B.A. Degree | Former |
Mr. Whittaker is President of Risk Management Resources, Inc. (RMR). He has managed consulting projects in Europe, Asia, North and South America. These projects have included business operational reviews, business strategy and objectives establishment, credit and risk policy reviews, effectiveness testing, and operational policy implementation. Don speaks and tutors at the American Bankers Association's Bank Card Schools and Visa Europe's Bank Card School in Cambridge, England. In addition, Don conducts consulting and education projects for Visa Asia-Pacific, European Union, Central Europe, Middle East, Africa and U.S.A. These worldwide projects include teaching senior bank management and government officials on the latest credit and risk tools and strategies being used to manage credit portfolios growth and risk.
| Organization | Position | Status |
|---|---|---|
| Risk Management Resources, Inc. | President | Current |
| Debtresolve, Inc. | Chairman | Current |
| Risk Management Resources, Inc. | Founder | Former |
| Risk Management Resources, Inc. | Owner | Former |
| Bank One Corp | Former | |
| Citibank | Former |
| Organization | Position | Status |
|---|---|---|
| Debtresolve, Inc. | Board of Directors | Current |
| Organization | Position | Status |
|---|---|---|
| Debtresolve, Inc. | Board of Directors | Current |
William M. Mooney, Jr. has been a member of our board of directors since April 2003. Mr. Mooney is currently President of The Westchester County Association and also serves as a Senior Vice President at Independence Community Bank. Mr. Mooney has been involved in the banking sector in an executive capacity for more than 30 years. Prior to joining Independence Community Bank, he served for four years as an Executive Vice President and member of the management committee of Union State Bank, responsible for retail banking, branch banking and all marketing activity. Mr. Mooney also spent 23 years at Chemical Bank and, following its merger with Chase Manhattan Bank, he was a Senior Vice President with responsibilities including oversight of all retail business. Mr. Mooney was the President of the Westchester Partnership for Economic Development. He also held the position of Chairman for the Westchester County Association, past Chairman of the United Way Westchester and Chairman of St. Thomas Aquinas College. He has served on the board of trustees for New York Medical College, St. Agnes Hospital, the Board of Dominican Sisters and the Hispanic Chamber of Commerce. Mr. Mooney received a B.A. degree in business administration from Manhattan College. He also attended the Harvard Management Program and the Darden Graduate School at the University of Virginia.
| Organization | Position | Status |
|---|---|---|
| The Westchester County Association Inc. | President | Current |
| Independence Community Bank Corp. | Senior Vice President | Current |
| Aquinas College | Chairman of Board | Current |
| The Westchester County Association Inc. | Board of Directors | Current |
| Debtresolve, Inc. | Director | Current |
| Debtresolve, Inc. | Member | Current |
| Economic Development | President | Former |
| Union State Bank | Executive Vice President and Member | Former |
| Chemical Banking Corporation | Former | |
| Dominican Sisters | Board of Directors | Former |
| Hispanic Chamber of Commerce | Board of Directors | Former |
| Union State Bank | Board of Directors | Former |
| Manhattan College | B.A. Degree In Business Administration | Former |
| University of Virginia | Former | |
| Harvard Corporation | Former | |
| Union State Bank | Member | Former |
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