Juan Manuel Hurtado DeGracia

Responsibilities: • Responsible for operations in respect to Accounting, Taxation, Treasury, and Payroll departments. • Internal control system, accounting and purchase daily work, records and process. • Disbursements, purchases and treasury issue Approvals. • Responsible for Financial Statements preparation based on IFRS (NIIF) reports... • Direct support to President in respect to counseling, Investment & Financing opportunities, Processes Control, Law proper compliance, Taxation & Labor matters Analysis in respect to risk and opportunities. • Responsible for Board of Managers reporting structure and compliance (Monthly Board Reports, Annual budget and forecast preparation, evaluation and reports) • Audit coordinator, Fiscal & other governmental authorities.

Independent CPA consultant services to diverse Industries and commercial entities in Respect to Financial Analysis, Regulatory and Fiscal Compliance, Working Capital, Credits & Financial requirements, Internal Control assessment, Payroll processing, controls & documents, Tax Planning, Accounting and reporting matters, Budget / Forecast structures and reports, Audit process, Fraud Analysis or investigations among others. Partner of Hurob Investments Inc. (Meraki Café and Restaurant) and Hurzaheco Inc. (Meraki Corner [sport bar]) both located in Brisas Mall, Brisas del Golf, Panama). Business operates for almost 1½ year when we decide to shutdown operations due to lack of time to properly attend it, 2 of 3 partners were relocated overseas which demands excessive time & administrative controls against profitability.

• Responsible for operations in respect to Accounting, Taxation, Treasury, and Payroll departments. • Internal control system continuous evaluation and follow up, accounting and purchase daily work, records and process. • Disbursements, purchases and treasury issues Approvals. • Payroll timely and accurate process plus workload coordination, payments approvals. • Responsible for Financial Statements preparation based on IFRS (NIIF) reports... • Direct support to President in respect to counseling, Investment opportunities, Processes Control, Law proper compliance, Tax strategies and Labor matters Analysis in respect to risk and opportunities. • Responsible for group reporting structure timely and accurate compliance (Monthly reporting package, Annual budget and periodic forecast preparation, evaluation and reports • Audit coordinator – BDO, Fiscal & other governmental authorities.

• Responsible for Pty GT and Uruguay operations in respect to Accounting, Taxation, Treasury, Purchase & Logistics and Payroll departments. • Disbursements, purchases, payrolls and treasury issues Approvals & All Bank accounts authorized signature. • NCO Mexico market operations alignment to corporate process & procedures , once achieved transferred to Local Controllership. • Responsible for LATAM Financial Statements preparation in all locations and USGAAP for Headquarters reports... • Direct support to LATAM Operations President in respect to counseling, Investment opportunities, Processes Control, Law proper compliance, New Markets Taxation and Labor matters Analysis in respect to risk and opportunities. Recently ongoing evaluations for Brazil, Mexico and Colombia Market business development / investments… • Audit coordinator (PWC; Corp.Internal Auditors, ASEP; Fiscal & other governmental authorities.

• Diorvett’s’ group Board of director decides to close the Garment business line effective December 2007. although I have concluded my labor relation with the group, the shareholders request me a “Special Consultant Services” to assist them with the company dissolution process, maintaining the independence to conclude my relation as per my decision or my new labor status. • Negotiations with all Bankers to shutdown all credit facilities. • Legal and Taxation matters follow to ensure proper wrap up. • Employees terminations as needed.

• Control, audit, evaluation and follow-up of Free Zone Companies plus Puerto Rico and Mexico companies’ operations. • Coordinate the implementation of a new Accounting system and EDP Automation for all companies. • Finance evaluation and follow-up of the other 12 real state and construction companies in Panama. • Prepare and analysis of all group related financial information • banks relations and administrative support to managers • Accounting Firms services coordination for consultant and Tax related items. • Since May 2004, due to moving of Administrative offices from Colon Free Zone to Panama City, I am also in-charge of all Personnel related. • In February 2006, I have also received the assignment of Puerto Rico Market as Operations In-charge; I am responsible for the whole Puerto Rico operations in respect to Sales performance, Administrative and Logistics operations plus all related reporting issues

• In-Charge Coordinator for Dissolution Transfer process • Assets/Liabilities transfer to new entities on the Caricam Region • Severance Settlement to all dismiss staff due to non absorption in the Central America and Caribbean Region. • Legal and Fiscal issues coordinator across all related markets • Bank line of credits negotiator to close or reassign to other entities as needed

• Direct supervision & full control of Accounting Cycle. • Major involvement on the decision taken process, Budgets and Home Office Reports • EDP related issues contact. • Personnel Supervision, Preparation and Distribution of Works, Control and Valuation of Company Expenses and Assets, • Financial and Accounting reports sent to the Regional Office as to The Holding Company in U. K. • Company's Annual Budget and Five-Year Plan preparation. • Audit coordinator (PWC); Fiscal & other governmental authorities. • Additionally, I have the control and Supervision of The Electronic Data Processing Center in respect to Adequate Function of PC-Network, New Programs and Reports developments, as the search and installation of new Software.

• In-Charged Audits as Specials Works for National & International Companies on diverse industries such as Retail Commerce, Banking, Insurance, Medicine, Traders, Vehicle Dealers, Mining Companies and more... • Audit workload Planner, Staff supervision & Tax Advisor • Audit Works for Frauds and Thefts for national companies. • In October 1986 and 1987, special review of Controls on Payroll and Payment cycles in The Rosario Resources Company (Lead, Silver and Zinc Mine - El Mochito) in Honduras jointly with C&L - NY Partners • Banco Hipotecario Nacional audit team member during years 1984 to 1986. • I have imparted training seminars for Assistants Audit Personnel of Coopers & Lybrand - Panama about the C & L Audit Approach, Fiscal Concepts, IRS Regulations and others. • Good knowledge in all type of Financial Statements • Extensive experience on Income Tax Return Preparation for all sectors and other relevant fiscal Panamanian matter as-well for several Latin America countries.