DMG Case Studies

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DMG Case Study — Atoga Systems, Inc.

DMG Staff
 
Industry Technology
Business Description: Atoga worked as a designer, developer and manufacturer of intelligent, integrated wavelength division multiplexing (WDM) tunable laser solutions for the optical internet.
Business Problem: The company was running out of cash and had repeatedly missed its revenue forecasts. The company was unable to gain any market share from the market leader.
DMG Focus:

DMG assumed fiduciary control of Atoga through positions as director and CEO. DMG was hired to:

  • Market and sell all assets of Atoga, while maintaining normal operations
  • Retain highly-demanded engineering talent through to conclusion of DMG-Atoga relationship
Results:
  • Sold all assets to Arris
  • Distributed all proceeds from asset sale to the senior secured creditors
  • Completed all tax returns
  • Successfully closed the company's 401(k) plan
  • Retained all key personnel
  • Handled all tax and employee issues including federal and state tax returns, the issue of W2s and 1099s and a Sales and Use tax audit conducted by the state of California

 

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