The journey began with the vision of providing an unheard-of level of risk mitigation through emerging technologies which would change the asset leverage dynamics in the equipment leasing and finance industry.
Blok Box is the successful combination of technologies that put asset control at the leasing company’s fingertips without lawyers, court filings, time delays and the costs associated with traditional collections methods.
Their inspiration was the result of a key observation made by Peter Tamposi whose law practice focused on bankruptcy.
His observation was simple:
The power company can turn off the electricity for non payment, as can the phone, internet and other utilities. In his practice those who could control access to assets and services were always among the first to get paid.
While the epiphany came quickly, the process of fully developing the vision took a team of experts in the various technologies, from cloud computing and related software development to wireless data transmission and electrical engineering.
Today the Blok Box programs span every conceivable electrical application, from 110-volt to massive 440-volt applications. They address risk mitigation through the lease origination process or as added collections leverage in existing non performing leases.
Peter Tamposi, Esq., CEO and co-founder of Lease Security Systems, Inc. has been practicing law for 25 years, focusing on bankruptcy, financial restructuring, and commercial litigation. During his practice he recognized the extent to which equipment lessors lacked effective “leverage” with lessees. As spokesman and voice of legal experience for the company, Peter is fully engaged in the leasing and equipment finance industries and serves on the Legal Committee of the National Equipment Finance Association (NEFA).
Frank Thibodeau, COO, President and co-founder of Lease Security Systems Inc. is a results-driven, hands-on management executive with multifaceted sales, brand development, marketing, distribution, and manufacturing experience. He possesses expertise in international business relations and financial-related issues, as well as facilitating production, global distribution/warehousing, and import/export regulatory procedures. He is co-originator of several patents, including Blok Box.
Jeffrey’s professional experience spans decades of nearly every aspect of the leasing and equipment finance industry. He has a deep understanding of the challenges and dynamics of the constantly-shifting market, opportunities, and trends. His intimate knowledge he brings a wealth of perception and guidance to the clients of Lease Security Systems and its Blok Box programs.
