Ms. Payne is a Principal and Director of D. R. Payne & Associates, Inc., with over thirty-five years of accounting and consulting experience in the public, private, and government sectors. She has over thirty years of consulting experience with public accounting firms. Before joining D. R. Payne & Associates, Inc., she served as a financial analyst for the Department of Justice in the United States Trustee Program and as a Manager/Supervisor for KPMG Peat Marwick and KMG Main Hurdman. Ms. Payne also worked in various financial positions in the oil and gas and banking industries with primary responsibilities in corporate accounting, planning, reporting, and analysis.

Ms. Payne is a graduate of the University of Oklahoma (BBA Business Finance). She continues to participate in professional development programs regarding bankruptcy law and accounting, litigation support, business valuation and forensic accounting. In addition to completion of annual continuing education requirements, on a post graduate basis, she has completed over twenty additional college credit hours of study in accounting, finance and computer applications at the University of Oklahoma and the University of Central Oklahoma.

Ms. Payne is a certified public accountant (CPA), a certified insolvency and restructuring advisor (CIRA), certified in distressed business valuation (CDBV) and has attained fellow status with the American Board of Forensic Accountants (FABFA). She is also an associate member of the Association of Certified Fraud Examiners and the American Bankruptcy Institute. Ms. Payne has over thirty years of bankruptcy and workout experience with public accounting firms, over two years as part of a financial team for a debtor in possession and two years with the Department of Justice as part of the United States Trustee Program. Examples of services provided, and duties performed are summarized below.

Bankruptcy, Insolvency, and Debt Restructuring

Developed forecasts, projections, and business models using different scenarios; prepared asset valuations based upon current market conditions, liquidation conditions and future earning capacities; provided information concerning various debt agreements such as bank debt, nonrecourse notes, subordinated debentures, mechanics and materialmen’s liens and partnership debts to determine the financial implications of differing legal positions; prepared financial exhibits included in disclosure statements pursuant to the bankruptcy code for both private and public entities; assisted bankruptcy attorneys in the writing of plans of reorganization and disclosure statements; prepared bankruptcy filings and reports for debtors in possession and bankruptcy trustees, including schedules of assets and liabilities, statements of financial affairs, initial reports and monthly operating reports; reviewed bankruptcy filings and reports and worked with attorneys in providing administrative oversight as part of the United States Trustee Program; participated in section 341 meetings of creditors and equity security holders on behalf of debtors in possession, bankruptcy trustees and the United States Trustee Program; provided expert witness testimony regarding general business operations and financial reporting, adequacy of disclosure statement information, and feasibility of proposed plans of reorganization; retained by bankruptcy trustees and state court receivers to assist with management of operations in addition to performance of financial accounting and reporting functions.

Forensic Accounting and Litigation Consulting

Retained to investigate financial matters, trace funds, review capital account balances and distributions in various litigation proceedings; retained by investigative authorities to reconstruct books and records of various corporate, partnership and limited liability entities to determine amount and extent of fraudulent transfers and breach of fiduciary duty; retained to investigate allegations of fraudulent transfers and concealed assets in connection with bankruptcy and receivership proceedings; retained to evaluate commission claim of terminated employee, analyze underlying sales records, offsetting expenses and other related documents, prepare schedules and analyses for use in settlement discussions and mediation; retained to evaluate anti-trust damages; retained to calculate actual and punitive damages for various parties in interest in connection with contested matters and adversary proceedings.

Forecasting, Budgeting, and Acquisition Analysis

Prepared cash flow projections, debt requirements, and pro forma financial statements for creditor groups of various companies; reviewed and analyzed monthly financial statements, budgets and operating reports of various companies; assisted in evaluating numerous acquisition proposals, including rate of return calculations; prepared financial information and asset valuations relating to acquisition proposals.

Corporate Accounting, Planning, Reporting, and Analysis

Prepared monthly, quarterly, and annual corporate financial statements, including income statements, balance sheets and sources and uses of funds statements; prepared analysis of accounts receivable, accounts payable, and property and equipment; developed financial models for restructuring plans; prepared models analyzing reserves and other assets and liabilities for multi-million dollar companies; prepared financial reports for the corporation to be utilized by management; prepared financial reports to financial institutions for multi-million dollar loans.

Financial Modeling and Computer Applications

Developed various computer models and applications including the financial models used in plans of reorganization; prepared and conceptualized models analyzing oil and gas reserves, accounts receivable, fixed assets, accounts payable, general and administrative expenses, oil and gas sales; created models used in cash flow projections and loan amortizations.