Stephen Orzel was the Corporate Accounting & Human Resources Manager of QuantRx Biomedical Corporation from 2006 to 2011. QuantRx was a medical technology startup focused on developing medical devices. As the company struggled with funding due to the 2008 financial crisis, Orzel managed the accounting, HR, and financial reporting for QuantRx and its subsidiaries. Key accomplishments included restructuring the accounting department, implementing Sarbanes-Oxley compliance policies, and developing budgets and cash flow projections to improve financial oversight as the company downsized operations. Orzel's experience enhanced his professional skills in accounting, management, and working with a startup during difficult economic conditions.

1. Comprehensive Professional Profile 
An In-depth Examination of Professional History
Please complete this booklet discussing only one position that you have held within each organization. If you
have held more than one position within the same organization, discuss each position in a separate booklet.
Name: Stephen A. Orzel Title: Corporate Accounting & Human
Resources Manager
Organization: QuantRx Biomedical Corporation Dates: From: 10/2006 To: 07/2011
Sasha Afanassiev 484-204-0036
I. Organization Overview
Please describe in general terms this particular employer. Include such information as industry and relationship
to competitors, size, sales volume, organizational entity, products or services offered, management philosophy,
number of employees, branch offices, plants or warehouse facilities, marketing organization, etc. Also discuss
growth activities during your term of employment with this company.
QuantRx Biomedical Corporation (QTXB:US) corporate office located in Doylestown, PA with Research and
Development Offices in Portland, OR, and Tucson, AR (GUSA). QuantRx is/was a medical technology company
with leading edge products targeting worldwide health needs, which has developed a broad spectrum of
intellectual property targeted to its three proprietary business lines: the patented inSync® miniform Interlabial
PAD (ILP), Rapid·Sense® technology, and the PADKit® Sample Collection System. Its goal was to license and
market products via established distribution networks, initially targeting inSync® in the hemorrhoid pain and
discomfort relief market. The Company's patented point-of-care Rapid·Sense® technology has been selectively
licensed and is envisioned to support a strong point-of-care testing original equipment manufacturer business.
The Company's patented PADKit®, which utilizes an inSync® pad as a non-invasive sample collection device is
planned for use in screening for certain cancers and other diseases. The company also holds significant positions
in Flourapharma, a molecular imaging company and GUSA, a Microarray Detection for DNA technology.
QuantRx holds U.S. and foreign patents that grant it sole rights to all of its technology.
QuantRx, in general terms, was a start-up company in the research and development of specific medical devises
that relied on outside funding from investors, lending institutions, and venture capitalists. With no considerable
revenue stream, and the credit crises in the late 2000’s funding became harder to obtain. This lead to the closing
of the Research and Development offices in Portland, OR and Tucson, AR in September 2010, and the closing of
the corporate office in Doylestown, PA in December 2010. At this time, the Accounting and Human Resources
Depts. moved from Doylestown, PA to my home in Perkasie, PA, and operated there until July 2011.
My responsible, as a publically owned company, was to maintain the integrity of QuantRx, and continue to
provide the following duties for QuantRx and Flourapharma, Inc. by (i.) maintaining of all accounting records,
and computer systems and programs, (ii.) creating required accounting procedures, via SOX requirements, to
provide better cash flow reviews, (iii.) following GAAP requirements completed daily accounting and auditing
functions (A/P, A/R, JE, GL, BS, PR, Purchase and Sales Orders and Bank Reconciliations), (iv.) preparing,
auditing, and presenting of Responsibility Statements comparing actual vs. budget, (v.) auditing of monthly,
qtrly, and year-end financial statements, via GAAP and SOX requirements, and (vi.) handling all human
resources and benefit issues.
Name: Stephen A. Orzel

2. Name: Stephen A. Orzel
II. Characteristics Of Your Position
A. Using an appropriate descriptive phrase from those listed below, indicate this position’s area of primary
responsibility:
Operations Sales Marketing Public Relations
Administration Finance Legal Personnel
Distribution Purchasing Accounting Systems
Production EDP R & D Materials Management
Credit General Manager Owner/Partner Teacher/Instructor
Other:
Operations - Developed, along with the CFO, Sarbanes Oxley (SOX) policies and procedures, and supporting
Standard Operating Procedures (SOPs) to ensure SOX compliance, which were utilized correctly by the
company.
Administration – Handled all human resource and benefit issues, and bi-weekly payroll for 17 employees (5
Bethlehem, PA 7 Portland, OR., and 5 Boston, MA) for QuantRx and Flourapharma..
Production – Management of accounting staff to ensure that all corporate and satellite offices’ accounting
procedures are followed and schedules are met in a timely manner.
Finance – Developed an easier and quicker bank reconciliation process. Maintained and developed new
relationships with investors, lending institutions, and venture capitalists.
Accounting - Re-engineer/manage the daily financial activities of the Accounting Dept., including, financial
statement support and analysis, R&D budgeting, and cash flow review & projections for QuantRx and
Flourapharma.
Systems – Assisted in the development and adding of a new QuickBooks’ Manufacturing modular to QuantRx’s
current QuickBooks program.
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3. Name: Stephen A. Orzel
III. Description and Perception of Position.
Use the remainder of this booklet to describe, in narrative form, the particulars of this position as they pertain to
the following four categories. Do not be concerned with grammar, punctuation, or sentence structure, but please
write legibly or type your response. It is important to approach this portion thoughtfully, carefully evaluating the
position from each of the given parameters. If you need more space, please use an additional attached sheet.
A. General Description And Purpose Of Position: This section should address your perception of the
purpose and description of the position. Discuss such things as whether it was created, inherited, or the result of
consolidating responsibilities. Include, among others, items such as the position’s role and level of hierarchy
within the firm, i.e. number of employees supervised, functional areas of authority, committee involvement,
financial/budgetary responsibilities and skills required.
QuantRx Biomedical Corporation was a start-up company specializing in medical devices. Being
publicly owned, QuantRx relied on outside shareholders and investors for funding. Flourapharma relied
on QuantRx for funding of their medical products. My duty and responsibility was to manage all
Corporate Accounting and Human Resource processes, which included (i.) maintaining of all accounting
records, and computer systems and programs, (ii.) creating required accounting procedures, via SOX
requirements, to provide better cash flow reviews, (iii.) following GAAP requirements completed daily
accounting and auditing functions (A/P, A/R, JE, GL, BS, PR, Purchase and Sales Orders and Bank
Reconciliations), (iv.) preparing, auditing, and presenting of Responsibility Statements comparing actual vs.
budget, (v.) auditing of monthly, qtrly, and year-end financial statements, via GAAP and SOX requirements, and
(vi.) handling all human resources and benefit issues.
In order to ensure the above was completed, I managed the daily activities of two clerks, and one staff
accountant (CPA). None of the changes of QuantRx or FluoroPharma internal operations were made until the
full approval from Sasha Afanassiev, CFO, and Walter Witoshkin.
B. Personal Evaluation Of Opportunities and Challenges: Discuss your perception of the challenges
and opportunities afforded within this position beginning with your acceptance of the position through your
disassociation with the position. Further elaborate by summarizing the circumstances surrounding your
disassociation with the position or organization.
As shown above, I managed very aspect of the Treasury, Finance, and Accounting process for QuantRx and
Flourapharma by strategically restructuring the dept. through employee analysis/review to ensure their abilities
and time were being utilized correctly. I then revamped, via Excel Spreadsheets, the “Management of Cash” for
the daily/weekly/monthly Cash Receipt Report, monthly/qtrly/yearly P&L Statement, monthly, qrtly Balance
Sheet and Trial Balance, and all cash Projections and Budgetary purposes. And finally, I stream-lined the
preparation of financial statements and analysis, which would for better cash flow review & projections for
QuantRx and FluoroPharma.
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4. Name: Stephen A. Orzel
Your Contributions And Accomplishments Within This Position: The purpose of this section is to
discuss your contributions and accomplishments while in this position. Relate the cause/effect relationships that
transpired during your tenure, using action verbs such as those listed below to describe your activities. Include
duties you performed, policies, or procedures you were instrumental in establishing and implementing, and how
they affected the efficiency and operation of your department or the overall organization. For instance, the
activity creating a comprehensive training program and presenting it to a national sales force resulted in a
significant increase in sales. Or, your investigation and installation of a computer system resulted in improved,
cost-effective administrative and financial functions. Be specific about your personal involvement in this
position and quantify results when possible.
Planned Promoted Administered Coordinated Trained
Disapproved Isolated Recruited Invented Improved
Guided Assembled Investigated Sorted Contracted
Wrote Directed Evaluated Developed Implemented
Created Scheduled Restructured Moderated Arranged
Strengthened Conducted Expedited Rectified Analyzed
Maintained Conceived Controlled Installed Researched
Approved Reshaped Systematized Liquidated Expanded
Governed Enlarged Harmonized Instituted Revised
Distributed Organized Catalogued Established Motivated
Presented Designed Supervised Managed Allocated
Negotiated Presided Examined Grouped Stabilized
Conducted the evaluation of the Accounting Dept. staff through employee analysis to ensure their abilities, and
time were being utilized correctly by the company.
Coordinated the restructuring of the daily activities of two clerks, and one CPA accountant to ensure that all
corporate and satellite offices’ accounting procedures are followed and schedules are met in a timely manner.
Implemented policies to improve the communications and data flow between QuantRx’s 2 offices,
FluoroPharma, and myself concerning A/R , A/P, and PR to ensure correct data.
Prepared and presented a three-year budget and revenue projection, based on industry trends, for PA, OR, and
MA offices.
Developed, along with the CFO, Sarbanes Oxley (SOX) policies and procedures, and supporting Standard
Operating Procedures (SOPs) to ensure SOX compliance, which were utilized correctly by the company.
D. Evaluation Of Professional Experience: Finally, discuss how your association with this organization
has enhanced your overall professional profile and education. Specifically address issues such as product
knowledge, sharpened management, communication, negotiation, organizational skills, or hands-on experience
in an area of previous inexperience.
Never ever look back! Following the Credit Crises in 2008, QuantRx struggled to obtain funding, and
closed its corporate office of QuantRx in June 2010, I continued to work out of the basement for
QuantRx until July 2011, and am proud of the work, I completed at QuantRx.
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