Slide Stop Abusive Short Selling Slide You Can't Manage What You Can't See Slide Slide

Who We Are

Shareholder Intelligence Services, LLC – (ShareIntel)
ShareIntel is an application service provider retained by public companies to obtain, aggregate, track and analyze shareholder trading information. This process is managed through a proprietary patent pending web-based application known as the “Data Repository Information Link” system DRIL-DownTM.

In addition to its core business, ShareIntel can provide value-added custom consulting services to help client companies maximize the utility of our analyses. ShareIntel is a part of the $5 billion plus rapidly growing Software-as-a-Service (“SaaS”) industry.

The ShareIntel solution empowers the public company CEO’s with unique analytical tools to manage their investment bankers, legal counsel, investor relations, shareholders and more. ShareIntel creates meaningful hard and soft dollar savings by providing “instant” and actionable analytic metrics to coordinate and monitor corporate governance, regulatory compliance, corporate finance, due diligence, public offering market surveillance, mergers, acquisitions, investor relations, shareholder communications, blue sky compliance, road show planning and more.


Our Team
The ShareIntel Team is comprised of seasoned finance professionals possessing decades of “Wall Street” experience advising publicly traded companies. ShareIntel’s Team retains dedicated senior intellectual property counsel to oversee and prosecute all intellectual property strategies, issues and concerns.

David E. Wenger
President and Chief Executive Officer

With over twenty plus years in the securities industry, Mr. Wenger brings a broad range of numerous professional capacities spanning financial advisory work, venture capital, private equity funding, brokerage and public offerings. From those experiences, Mr. Wenger founded Shareholder Intelligence Services, LLC (ShareIntel) in 2003.

During his career on Wall Street, Mr. Wenger has been involved in numerous transactions involving investment banking, private equity financing, portfolio management, retail and institutional sales. Mr. Wenger was a founder and shareholder of Auerbach Financial Group, Inc. and Auerbach Pollak & Richardson, Inc., a regional boutique investment banking firm. In this capacity, he was responsible for the strategic development and growth of the firm and he led and managed the firm’s Private Equity Group. Previously, Mr. Wenger was associated with a number of global financial firms and investment banks, including PaineWebber, Inc., Lehman Brothers and Drexel Burnham Lambert, where he focused primarily on client service, training, and new business development.

Mr. Wenger obtained his formal education at Syracuse University. He currently maintains a Series 24 General Securities Financial Principal’s License and a Series 7 General Securities Representative’s License. He is registered with an FINRA member firm.

Virgil E. Wenger, CPA
Treasurer & Chief Financial Officer

As Treasurer & Chief Financial Officer of ShareIntel, Mr. Wenger is a Trustee of Pittsburgh and West Virginia Railroad (AMEX: PW), a Director of Advanced Nanotech, Inc. (NASDQ: AVNA) and Private Trading Systems, Inc. (Plus Markets Group:PTSP). He also serves as the current CEO of Centriflow, LLC. Mr. Wenger is a retired Partner of Ernst & Young, where he served variously as Partner-In-Charge of Consulting Practices in the East and Southwest Regions, Managing Partner of the Tulsa Office, and International Liaison Partner for Southeast Asia and the Middle East. His recent experiences include privatization projects in the Czech Republic and strategic planning for a number of new enterprises. Mr. Wenger holds a BS in Business Administration, with honors, from the University of Kansas, and is a graduate of Harvard Business School’s Advanced Management Program. He is a member of the Rotary Club of New York, and the Representative Town Committee of Darien, CT.

Robert N. Drake
Managing Director – Compliance & Operations

Mr. Drake possesses twenty five plus years of experience in the securities industry. During his diverse tenure, he has worked in numerous capacities ranging from Operations, Legal, and Trading, to name only a few. He oversees the compliance and regulatory considerations integral to ShareIntel’s proprietary analytic tools.

Mr. Drake gained his initial operational experience with Smith, Barney, Harris, Upham & Co., where he served in various positions including the Margin Department, Stock Record, Financial Services, Stock Loan, as well as other functional areas within the firm. He subsequently took his operational experience to Laidlaw Adams & Peck Inc., where he served as a key troubleshooter reviewing specific issues concerning institutional trade settlement and operational risk management. Mr. Drake was ultimately assigned responsibility for the firm’s fixed income and equity securities trade settlement areas. He was simultaneously responsible for the day-to-day operations for the firm’s Equity and OTC Trading desks.

Mr. Drake oversees ShareIntel’s pre-litigation discovery and litigation support analytics. His Expert Witness direct testimony is typically provided by deposition. Mr. Drake’s involvement with legal and compliance matters began with his association with Auerbach Pollak & Richardson, Inc., where he managed both Operations and Compliance. During this period, he coordinated the investigation of a major customer-initiated securities fraud event and the subsequent successful litigation against the securities division of an internationally recognized global bank. In 2000, through Mr. Drake’s efforts, Auerbach won a substantial judgment against the defendant for securities fraud, misrepresentation, willful misconduct and other assorted violations.

Mr. Drake attended Fordham University and Baruch College in New York City. He holds a Certificate in Law and Compliance from the New York Institute of Finance and previously held a Series 24 General Securities Principal’s License and a Series 7 General Securities License.

Tobin W. Mulshine
Senior Vice-President, Business Development

Tobin Mulshine has been with ShareIntel since November 2020, Prior to joining ShareIntel, Mr. Mulshine had extensive experience in Institutional Equity Trading Markets both Domestic and International along with operational and leadership expertise having served as Managing Director at Wall Street Access, CLSA Americas, LLC and as an Executive Director at Credit Suisse as well as Alliance Bernstein. Mr. Mulshine was a Partner at Weeden & Co from 2008 to 2011. From July 1995 to March 2025 Mr. Mulshine served in various roles at Morgan Stanley, an International Equity Trader, an Institutional Block Trader and Head of the Semiconductor Trading Team. Mr. Mulshine received his B.A. in Economics from Boston University.

Susan “Susie” De Rafelo, M.A.
Research & Business Development

Susie began a career in technology with an international contract negotiation role, representing multiple software publishers simultaneously including SAP, Microsoft, IBM as well as emerging .com firms into the Fortune 500 market.

She left that field for further education in sustainable economics in the developing world. She has lived and worked in Cambodia, Ecuador, Egypt, Nepal, Sri Lanka and Thailand. She has spoken at United Nations on STEAM education and is published in humanitarian affairs. She currently sits on the board of Gorilla Guardians, Orphans International, advises the J. Luce Foundation and actively fundraises with People Improvement Organization in Cambodia, Billion Oyster Project and the American Caribbean Maritime Foundation while advising fair-trade artisan groups overseas in a pro-bono capacity.

Susie considers her role at Shareholder Intelligence an extension of her commitment to ethical, sustainable and equitable economics.

Heather White
Director of Investor Relations

Ms. White is a Wall Street veteran with substantial Investor Relations experience. Her financial career spans almost 3 decades beginning in 1995 at Auerbach Pollak & Richardson where she was initially hired by ShareIntel CEO, David Wenger. As a stockbroker at Auerbach, Heather successfully helped raise millions through IPO’s, Secondaries, Private-equity deals, 506b & 506c, Reg S, Reg D, PIPE’s, Reverse Mergers, Up-listings, Convertible Debt offerings and more. She subsequently parlayed this experience into a successful Investor Relations career working with public companies, major financial Institutions and Government Agencies. Before joining David Wenger again at ShareIntel, she founded Alma Elena, LLC, providing investor communications, financial P/R and Investor Relations.


Advisory Board

John H. Bluher
Mr. Bluher was Executive Vice President, General Counsel, Chief Public Affairs Officer and Secretary, Janus Capital Group, from 2004 – 2007. Prior to joining Janus, Mr. Bluher served as General Counsel, Corporate Secretary and Director of Risk Management at Knight Trading Group, Inc. (Nasdaq: NITE), from 2001 – 2004. He previously served as Senior Vice President and Global Compliance Officer at Prudential Securities, Inc., and Executive Vice President and General Counsel at SunAmerica Financial Network, Inc., the financial services holding company for AIG/SunAmerica, Inc. From 1987 until 1992, Bluher was Senior Counsel for the Division of Enforcement at the Securities and Exchange Commission. Prior to that, he was a Partner in private practice. Mr. Bluher has more than twenty years of corporate law, securities and litigation experience in both the public and private sectors.

Clay Hamilton Colbath
Director Business Development

Formerly with RR Donnelley – Director of Business Development, Mr. Colbath brings an extensive resume with over 25 years in the securities and investment management field. As a trader, wealth adviser and founder of two business ventures, he has developed skills in sales, marketing, management, and business development.

Over his career Clay has worked with leading institutions such as Paine Webber, AG Edwards, and Northwestern. In addition, Clay’s experience with successful start-up companies includes: Intellimed, a Software and Data management company for major Hospitals, BNL Capital, and The Caregiving Family Office, a Complimentary Family Office specializing the needs of multiple generations in wealth management, care giving and legacy management. Mr. Colbath has held Series 7,63,65 Licenses. He is a graduate of Colgate University and Boston College Graduate School of Management, and has served as an officer in Rotary, and the Colgate Club of Fairfield County.


Our Technology Philosophy
ShareIntel embraces all technology which benefits its clients. It combines existing technologies focused on transaction based relational database management, effective shareholder communications, and direct marketing to create a unique set of processes designed to normalize shareholder data into an intelligible, fully searchable, dynamic database with robust, user definable analyses.