Executive Profile

Dale Twardowski, Managing Principal
Mr. Twardowski has over 30 years of experience in Accounting and Business Finance, and has worked in the Securities Industry for the last seven years, holding the series 7, 24, 27, and 66 licenses. He has been the Chief Financial Officer for various companies, including Invest Financial Corporation and has been directly involved in private placements through various Issuers. Mr. Twardowski is knowledgeable in taxation and accounting, and provides consulting and individualized company strategies for restructuring debt and increasing cash flow for his clients.

Timothy Liguori, CFP®, Vice President of Investment Banking
Mr. Liguori joined GemStone Securities, LLC in 2007 and currently works in the institutional sales department. Mr. Liguori has over 25 years of experience in Finance and Real Estate, and has worked in the Securities Industry for the past eight years, holding the Series 7 license. Prior to joining GemStone Securities, Mr. Liguori was the founder/CEO of Timothy Liguori & Associates, Inc., a real estate appraisal firm headquartered in Tampa, Florida.

Mr. Liguori holds a B.S. degree in Finance from the University of Florida. He completed the Financial Planner Certificate Program at the University of South Florida in April, 1999 and was awarded the Certified Financial Planners Designation (CFP®) in November, 1999.

During the past eight years Mr. Liguori worked as a personal financial planner with Mutual Service Corporation and Intervest International Equities Corporation. He currently serves as the Director of the Good Sense Ministry at his church where he councils members on personal financial stewardship.

Robert Smith, Vice President Institutional Sales
Mr. Smith served as a lobbyist in Washington, D.C. representing the British Association of Investment Trust Companies, a trade group comprised of all the institutional asset managers of the United Kingdom, and the Dutch Association of Corporate Pension Funds. He then became a marketing advisor to Henderson International, one of the largest asset Managers in London. After serving Henderson, he became a marketing advisor to Kleinwort Benson International Investment ,an institutional investment manager also in London. He then became an institutional stockbroker with Josephthal, Lyon and Ross (NYSE) and several other brokerage firms. Mr. Smith handles marketing of Gemstone Securities, LLC investment banking transactions to over 2,200 venture capital and private equity firms. Mr. Smith holds FINRA Series 7 and 63 licenses.

James Doulgeris, Senior Analyst
Mr. Doulgeris joined GemStone as its senior advisor in 2008. He has twenty-six years of executive management experience, primarily as president, CEO and director of for-profit, non-profit, public and private companies in the hospital, ancillary provider, medical device and health care services sectors. Mr. Doulgeris co-founded Orthopedic Development Corporation and MinSurg Corporation, serving as its President, CEO and Director from 2003 until September of 2008, managing its TruFUSE product from design to an internationally recognized minimally invasive solution for chronic back pain. Mr. Doulgeris worked in high-level crisis and turnaround management capacities from 1991 through 2003 in a variety of industries with an emphasis on healthcare providers. In 1983, he co-founded and led National Comtel Systems, Inc. as its CEO until 1991, growing it to be the fifteenth largest hospital contract manager in the United States. Mr. Doulgeris is also the co-author of "The Dyodyne Experiment," a novel scheduled for national release and distribution in June, 2009.