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AdAstra

Ad Astra, Inc.

Serving government, education, and key private sector firms in the health/medical and legal fields, Ad Astra provides interpretation, translation, and transcription services in over 250 languages.

The Challenge

The COVID pandemic severely dampened all international exchanges and cooperation, whether in trade, business, or inter-governmental and NGO services, threatening Ad Astra’s core business. The firm was in need of forward-looking financial management, as well as regular consultation on strategic decision-making for future business growth.

Our Solution

We focused our assistance to Ad Astra on three principal areas:

Immediate Needs – Stabilization

  • Successfully obtained a PPP (Payroll Protection Program) Loan
  • Renegotiated lease with office management company
  • Helped file new state registrations
  • Instituted cash management protocols

Ongoing Needs – Informed Management

  • Documented internal control processes
  • Completed all tax filings (federal, state, local county, 1099s) and represented client to IRS
  • Created monthly reporting on balance sheet, cash flows, and budget-to-actual results
  • Regular meetings with firm’s controller and management to react to new challenges

Future Needs – Growth

  • Performed due diligence on potential purchase of Canadian company
  • Reviewed proposals for financial implications and provided text/answers to financial questions required in RFPs
  • Adjusted financial forecasts, anticipating continued economic disruption caused by the pandemic