President & Chief Executive Officer
Mr. Canosa specializes in starting businesses from idea inception to a fully operational organization. He is well known for starting niche companies and building them to a critical mass within a specific geographic area and then exiting with either an IPO or sale to a consolidating acquirer. Mr. Canosa is proficient in expanding through acquisition or additional adding locations leading to a profitable enterprise. Presently, Mr. Canosa is President and Chief Executive Officer of Golden Renewable Energy, LLC (“GRE).
Prior to founding GRE, Mr. Canosa founded Lion Fuels International, LLC (“LFI”). LFI manages a 2,500 acre Jatropha farm in Honduras, Central America. LFI provided a small capital infusion to this distressed farm in order to keep the Jatropha crop viable for sale. This company was strategically started to take advantage of the recent interest in the US biofuels industry and attempt by the US Government Department of Defense to find the best non-edible feedstock for biodiesel and jet fuel. Jatropha oil has far exceeded the performance specifications of any renewable feedstock used for additives, biodiesel and jet fuel. Presently, a gallon of Jatropha is selling for approximately thirty (30) dollars or more due to the research and development being conducted. These levels will come down over the next couple of years, but not before LFI has positively penetrated the marketplace with Jatropha contributing to the research and development currently underway.
Prior to forming LFI, Mr. Canosa founded and was Chief Executive Officer of Global Financial Credit, LLC (“Global”). Global was started in 2003 and was one of the first, and is presently one of the largest companies to advance funds to people/plaintiffs involved in a lawsuit awaiting settlement. Global would advance numerous small loans to plaintiffs involved in a valid lawsuit waiting for a settlement from the defendant insurance company. Global would lien the case at the attorney or defendant insurance company to assure payment of principal and interest. Global rapidly expanded its loan portfolio. Between 2003 and 2007 the company completed approximately 15,000 loans with a settlement value of greater than thirty (30) million dollars. In late 2007 a small private equity firm purchased the company for twenty (20) million dollars.
In 1999, before forming Global, Mr. Canosa purchased USAG, INC. an existing small chain of daycare centers that used movement education and gymnastics as a marketing draw for parents to enroll children in these daycare centers. Subsequent to the purchase Mr. Canosa opened three additional centers that are still in operation and providing substantial cash flow.
In 1995 prior to USAG, Inc., Mr. Canosa founded and was Chief Executive Officer of Affordable Diagnostics, Inc. This company was organized by Mr. Canosa to own and operate free-standing independent multi-diagnostic centers that include MRI, CT-Scan and X-Ray equipment. This company took advantage of an existing void in the medical diagnostic market. Area hospitals had a monopoly on this type of equipment making it difficult for outside/independent doctors to see patients outside the hospital. In two (2) years Mr. Canosa opened five diagnostic centers and four (4) physical therapy centers. In 1998 Mr. Canosa merged this company in an all stock deal with Fonar Corporation, a manufacture of MRI machines endeavoring to enter the service/retail end of the diagnostic business. Subsequently, Fonar Corporation was awarded two hundred and fifty (250) million dollars in a patent infringement case against General Electric Corporation that doubled the value of the stock owned by Mr. Canosa and his partners to approximately twenty two (22) million dollars. Mr. Canosa as part of the merger worked with Fonar Corporation as Director of Business Development for approximately one (1) year to assure a consistent and smooth transition.
In 1991, prior to Affordable Diagnostic, Inc., Mr. Canosa founded and was Chief Executive Officer of Northeast Physical Therapy Centers (“Northeast”). Mr. Canosa opened six (6) and purchased another twelve (12) physical therapy centers creating a monopoly on the western side of Connecticut. In 1994 Mr. Canosa merged Northeast with ProSports Care, Inc., then opening and purchasing physical therapy centers in New York and Connecticut. Four (4) months after the merger in September, 1994 Mr. Canosa took ProSports Care public (NASDAQ: PSCM) raising twenty five (25) million dollars and subsequently a secondary offering raised an additional thirty (30) million dollars approximately eight (8) months after the IPO. In 1996 Mr. Canosa merged ProSports Care with Healthsouth Corporation (NYSE: HRC) in a full stock for stock merger. Mr. Canosa sold all his stock when HRC was trading between $40 and $52 per share.
Mr. Canosa received a Bachelor of Science in Finance and Business Administration from New York University in 1984. Mr. Canosa also received a juris doctor degree from Yeshiva University Benjamin Cardozo School of Law in New York City in 1987.