Mr. Doug Laux, age 52, Executive Vice President of Initiatives Healthcare, Inc. Mr. Laux has had over 29 years of diversified experience both as a member of senior management and as a third party advisor to existing management, owners and lenders regarding a variety of operational, strategic and financial matters. His experience includes serving both public and private companies as Chief Financial Officer and Chief Operating Officer, helping to raise significant equity in a variety of forms, restructuring and refinancing debt, both domestically and internationally, buying and selling entire businesses or business units, assisting in several successful turn-around situations and managing a successful IPO.

Having spent the first 20 years of his career with Ernst and Young, nine years as a partner, Doug has advised a wide variety of companies regarding a myriad of tax and strategic issues. As a CFO, he has helped develop strategic operating and financing plans, instituted budgeting, cost containment, capital expenditure and internal controls policies and processes, participated in successful system conversions and helped organizations eliminate significant costs while creating operating efficiencies. In addition, he has significant bankruptcy and SEC experience. During 2003, Doug served ANC Rental Corporation, a $2 billion multinational car rental company, as CFO during the Company's bankruptcy. Prior to joining ANC as CFO, he assisted its foreign affiliates in successfully restructuring its foreign financing facilities and managed the successful restructuring of ANC's German subsidiary utilizing the German insolvency proceedings.

Doug earned a BA from the University of Illinois and completed the core courses towards a MST at DePaul University. He is a CPA in good standing, and a current member of the AICPA and the Illinois CPA Society. He has served on the board of several companies and is currently the President and a Director of the Freeport Securities Company; a family owned oil and gas company.