Robert E. Cauley, CFA is one of the Company's founders and has been a director of the Company since its inception in 2003. He currently serves as Chairman of the Board, Chief Executive Officer and Secretary of Bimini Capital Management, Inc. Prior to joining the Company, he was previously Vice President, Portfolio Manager, at Federated Investment Management Company in Pittsburgh, Pennsylvania where from 1996 until September 2003 he was also a Lead Portfolio Manager, Co-Manager, or Assistant Portfolio Manager of $4.25 billion (base capital, unlevered amount) in mortgage and asset-backed securities funds. From 1994 to 1996, he was an associate at Lehman Brothers in the asset-backed structuring group. From 1992 to 1994, he was a Credit Analyst in the highly levered firms group and the aerospace group at Barclay's Bank. Mr. Cauley has invested in, researched, or structured almost every type of mortgage-backed security. Mr. Cauley, who is a CFA and a CPA, received his MBA in Finance and Economics from Carnegie Mellon University and his BA in Accounting from California State University, Fullerton. Mr. Cauley served in the United States Marine Corps for four years.