CEO, President and Director
Mr. Lai has been a director and senior executive officer since March 2014, serving in various capacities that include Principal Financial Officer, President and CEO; and serving as our Chief Executive Officer from March 2014 to May 2017 and June 2019 to present. From March 2012 to April 2016, Mr. Lai also was Chief Executive Officer and a director of Blue Earth Resources, Inc., a small public company which acquired and managed working interests in producing oil and gas leases in Louisiana. Mr. Lai has over thirty years of senior executive and operational management and financial experience while holding key executive positions with several public companies in various industries.
In 1992 Mr. Lai founded and until December 2012 was the principal owner and President of Genesis Capital Group, Inc., which provided significant consulting services to many public and private companies in the powersports, technology and other industries, while advising its clients in corporate development, mergers and acquisitions, and private and public capital-raising through equity offerings. Mr. Lai’s role as a co-founder of the company and his many years of experience as a chief executive officer of many public or private companies are material factors regarding his qualifications to serve on our Board of Directors.
Chief Financial Officer
Mr. Carruth has spent several years in the accounting field with continually-progressing responsibilities. His areas of expertise include internal controls over financial reporting, SEC reporting, and GAAP compliance. He holds three degrees in accounting, including a Master of Accountancy degree from the University of Minnesota (2016) where the coursework surrounded navigating the SEC, SOX and the Dodd Frank Act. He has been employed at Merrill Corporation, where he worked on SEC reporting; at Prime Therapeutics, where he worked to fix major discrepancies within their accounts; and most recently, at Supervalu as a Senior Accountant focusing on GAAP compliance and special projects.
Board Of Directors
CEO, President & Director
Mr. Lai has been a director and senior executive officer since March 2014, including being our President since March 2014 and our Chief Financial Officer since April 2018, and serving as our Chief Executive Officer from March 2014 to May 2017. From March 2012 to April 2016, Mr. Lai also was Chief Executive Officer and a director of Blue Earth Resources, Inc., a small public company which acquired and managed working interests in producing oil and gas leases in Louisiana. Mr. Lai has over thirty years of senior executive and operational management and financial experience while holding key executive positions with several public companies in various industries. Read More
Mr. Deming serves as chief investment officer for the BBIC. Mr. Deming brings a wealth of experience fostering deep relationships with asset allocators across the spectrum including institutions, pensions, endowments, family offices and high net worth investors. His career has included roles as director of marketing and investor relations at BCCM Advisors, head of business development at Asymmetric Capital Management, partner and director of marketing at Arbor Capital Management, president and marketing director at Leuthold, Weeden & Associates, L.P., account executive at Paine Webber and Merrill Lynch, PM, analyst at Windsor Financial, and floor trader at the CBOT. Mr. Deming earned a bachelor of science degree in finance from the University of Wisconsin La Crosse. Mr. Deming is a board member of Ironwood Springs Christian Ranch, the largest wheelchair sports camp in the country, and PetVivo Holdings, Inc., an emerging biomedical device company. He has a passion for servant-mentor leadership, driving core cultural values to collaborate, encourage, equip and uplift so that serving others ultimately benefits the individual and the organization. He and his wife live in Minneapolis and have four adult children.
David Masters, Ph.D.
Dr. Masters has been a director since April 2015 and has served as our Chief Technical Officer from April 2015 to December 2017. Dr. Masters is the founder of, and served as Chief Executive Officer and Chief Technology Officer, of Gel-Del Technologies, Inc., from 1999 to December 2017, while for Gel-Del he developed and obtained significant patents for the proprietary biomaterial technology and product applications acquired by us from Gel-Del. Read More
John F. Dolan
Director & Secretary
Mr. Dolan has been a director since March 2014, and he served as our Chief Financial Officer from March 2014 to November 2017. Since March 2013, Mr. Dolan also has served as corporate and intellectual property (IP) counsel for KILO, Inc., an alternative energy company. From June 2000 to July 2012, Mr. Dolan was a shareholder in the intellectual property group of the Minneapolis law firm of Fredrikson & Byron, where he specialized in securing and protecting domestic and foreign patent and other IP rights for various clients including biomaterials technology and products.
During the past five years, Mr. Dolan also has provided consulting services to several early stage companies on all aspects of IP asset protection as well as new technology and corporate development. His extensive career in the intellectual technology field includes serving as a patent examiner with the U.S. Patent and Trademark Office (USPTO).
Randall A. Meyer
Mr. Meyer has over 25 years of leadership experience in medical device development and commercialization including expertise in successfully growing medical device companies from concept to profitability. He has served as CEO at Tactile Medical (TCMD) and as COO at Gel-Del Technologies
Robert J. Rudelius
Mr. Rudelius is the CEO and Managing Director of Noble Ventures, LLC, a company he founded in 2001 that provides advisory and consulting services to early and mid-stage companies in the information technology, communications, medical technology and social e-commerce industries. From April 1999 through May 2001, when it was acquired by StarNet L.P., Mr. Rudelius was the founder, Chairman and CEO of Media DVX, Inc., a start-up business that provided a satellite-based, IP-multi casting alternative to transmitting television commercials via analog videotapes to television stations, networks and cable television operators throughout North America.
From April 1998 to April 1999, Mr. Rudelius was the President and COO of Control Data Systems, Inc., during which time Mr. Rudelius reorganized and re-positioned the software company as a professional technology services company, resulting in the successful sale of the company to British Telecom. Read More
Mr. Jasper is a Chartered Financial Analyst (CFA) who since 2005 has been Chief Executive Officer of Vermillion Research, an institutional investment firm, while being responsible for its day-to-day operational management. From 2002 to 2005, Mr. Jasper was Managing Director and Director of Fixed Income and Marketing for Piper Jaffray Company. Prior to 2002, he spent 20 years managing, structuring and selling fixed income and equity securities at several leading investment banking firms, including U.S. Bancorp Libra and UBS PaineWebber.
Mr. Jasper also serves as Vice Chairman of the Board of Directors of MicroNet, Inc. and as a director of Windigo Logistics, both privately-held companies. He has previously served as a director or principal advisor to many operating and venture-stage companies across a broad range of industries. Mr. Jasper received a MBA degree from the University of St. Thomas, where he also has served as its Adjunct Professor of Finance.
Jim is a retired Certified Public Accountant (CPA) and attorney whose career included his responsibility as Partner in Charge of the Firm’s Tax Practice for its Newport Beach Office. In that role he provided and oversaw the rendition of tax services for numerous clients in varied industries including those for which the Firm provided a Certified Audit. He retains his AICPA membership and holds Accounting and Law Degrees from the University of Washington and, on a Fellowship, received a Master of Laws Degree (LLM) from New York University.
Scott is a professional licensed Mechanical Engineer having 30 years experience providing product design and development, production engineering and processes, product quality control and auditing, risk management audit and compliance procedures, and other engineering operations for leading medical device manufacturers. Since 2012 he has been the Chief Executive Officer and principal owner of Stratego, Inc., a life sciences consulting corporation he founded. Leading consulting engineering projects of Stratego have included providing key engineering services for defibrillator products of Philips Healthcare, risk management and quality control audit services for Hospira, quality program and remediation management for programmable implant medical devices of St. Jude Medical, and being the Product Engineering Team Leader for PMA Submissions at Zimmer Biomet –Biologics. Mr. Johnson’s lengthy past employment or consulting with leading industry companies includes being Senior Design Engineer for SciMed for five years, being Engineer Project Manager for linear piston pump projects for the life sciences, petroleum and chemical industries during a six-year period while providing engineering services for PumpWorks, Inc., and being FDA compliance project manager at Boston Scientific for four years. His engineering projects for production of medical devices also includes substantial overseas experience with production facilities and procedures in several foreign countries including Mexico, Costa Rica and Dominican Republic.
Director & Chairman
Greg has more than 35 years senior management and/or key sales and marketing executive experience in the life sciences industry, including being Chief Executive Officer or Division President of leading cardiovascular medical device companies. Since 2011, he has been the Chief Executive Officer and principal owner of Argent International LLC, Minneapolis, MN, a consulting firm he founded to provide management, marketing and financial consulting services to start-up and established companies in the life sciences industry. Prior to founding Argent, Mr. Cash served for over thirty years in senior executive management or marketing roles with leading medical device companies, including five years with Boston Scientific Corporation and over twelve years with Medtronic, Incorporated. His many industry achievements also feature extensive and high-level overseas experience including being Chief Executive Officer or a senior marketing executive of both start-up and established international medical device companies in European countries including The United Kingdom, France and Italy, as well as serving for several years as the Senior Marketing Manager in Asia for all Medtronic product lines.