Audit Cleanup, Tax Recovery & Two Eight-Figure Fundraising Rounds
How I stepped into a startup 60 days before an already-announced fundraising round, resolved multiple audit and compliance issues, completed an unfinished independent audit with a clean opinion, recovered more than $60K in overpaid sales tax, and helped prepare the company for two $10M+ raises within approximately seven months.
At Clear Comfort, then operating as Silver Bullet Water Treatment Company, the finance function was under pressure from several directions at once. The company was already preparing for an announced fundraising round, but its independent PwC audit had not been completed and it was simultaneously dealing with audits or examinations involving the IRS, the City and County of Denver, and the Colorado Department of Revenue.
I was hired specifically to get the accounting, audit, tax, compliance, and equity work into shape for fundraising diligence. I joined approximately 60 days before the first round, resolved the outstanding blockers, completed the independent audit process with a clean opinion, and identified that the company had paid Denver sales tax it did not owe, ultimately recovering more than $60K for the business.
That work supported the first $10M+ fundraising round and continued through a second $10M+ round within approximately seven months, alongside equity transactions, convertible-loan conversion, stock-split activity, financial reporting, and continued diligence support.
The Operating Problem
Clear Comfort was approaching an already-announced fundraising round with finance under significant scrutiny. The independent PwC audit was unfinished, while the company was also dealing with audits or examinations involving the IRS, the City and County of Denver, and the Colorado Department of Revenue.
The challenge was not simply to close the books. Accounting, tax, compliance, equity, inventory/WIP, and supporting documentation all had to become reliable enough for auditors, investors, and leadership to trust under a very compressed timeline.
What Changed
Within approximately 60 days, the finance operation moved from unresolved audit and compliance issues toward fundraising readiness. The independent audit was completed with a clean opinion, accounting and supporting documentation were strengthened, and the company entered diligence with a more defensible financial foundation.
The cleanup also produced a direct financial recovery: I identified that Denver sales tax had been paid when it was not owed and recovered more than $60K for the company. The work continued through two $10M+ fundraising rounds completed within approximately seven months.
What I Led
01 - ACCOUNTING STABILIZATION & AUDIT REMEDIATION
Directed the accounting cleanup needed to complete the independent PwC audit, strengthen close and financial reporting, resolve historical issues, and produce records that could withstand external scrutiny.
02 - TAX & COMPLIANCE RESOLUTION
Managed work associated with IRS, Denver, and Colorado tax examinations, investigated underlying tax treatment, and recovered more than $60K in Denver sales tax that had been paid when it was not owed.
03 - FUNDRAISING & DILIGENCE READINESS
Prepared the finance operation for investor diligence beginning approximately 60 days after I joined, organized supporting documentation and financial information, and supported two fundraising rounds exceeding $10M each within approximately seven months..
04 - EQUITY, CONVERTIBLES & STOCK TRANSACTIONS
Managed fundraising-related equity work, including convertible-loan conversion to preferred stock, stock-split activity, employee common-stock considerations, and the documentation required to support financing transactions.
05 - FINANCIAL VISIBILITY, CONTROLS & OPERATING SUPPORT
Strengthened reporting, policies, controls, inventory/WIP visibility, and finance workflows across a complex startup environment so leadership, auditors, and investors had clearer and more reliable information.
What This Demonstrates
This case demonstrates my ability to step into a finance function under intense external scrutiny, identify what is actually preventing the business from moving forward, and turn cleanup work into transaction readiness.
The work required more than correcting historical accounting. I had to connect technical accounting, audit remediation, tax analysis, equity transactions, inventory and WIP, controls, reporting, and investor diligence under a fixed fundraising deadline. Resolving the underlying issues produced a clean audit opinion, recovered more than $60K in cash for the company, and created the financial foundation needed to support two eight-figure fundraising rounds.
Capabilities: Startup finance · Technical accounting · Audit remediation · Tax compliance · Fundraising readiness · Due diligence · Equity & convertible instruments · Inventory/WIP · Internal controls · Financial reporting
OPERATING PRINCIPLE
Fundraising readiness is not a presentation exercise. Investors need numbers they can trust, a clear explanation of what happened, and evidence that the finance function can withstand scrutiny.