Helio Corporation announced that Mark Knauf will take over as chief financial officer, a move aimed at tightening the company’s financial governance and supporting its planned uplisting to the New York Stock Exchange.
Helio’s cash position is limited to $44,000 and it carries a $3 million debt load, a liquidity profile that has prompted the board to seek a CFO with deep experience in accounting, tax and economic consulting. Knauf’s prior roles as CFO of Amscot Financial and senior manager at Englewood Property Holdings give him a track record of addressing material weaknesses in internal controls and improving capital‑planning processes.
The appointment comes as Helio pursues a space‑based solar‑power strategy that involves designing, building and testing orbital power‑generation hardware. The company has been working on technologies that would transmit energy from orbit to Earth, a high‑cost, high‑risk endeavor that requires disciplined financial oversight.
Helio’s internal‑control deficiencies are a key hurdle for NYSE uplisting, which requires companies to demonstrate effective financial reporting and governance. By bringing in Knauf, Helio signals its intent to meet those standards and to provide the transparency investors demand.
CEO Ed Cabrera said the new CFO “strengthens Helio’s foundation at a pivotal moment for the company. Mark brings deep financial leadership and accounting expertise that equips us with the discipline and strategic insight needed to execute at scale.”
The CFO change is expected to improve Helio’s financial reporting, reduce the risk of material misstatements, and position the company to secure the financing necessary to sustain its space‑based energy program and pursue growth opportunities.
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