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Board of Directors

Board of Directors. ABC Company VIEW AS NOTES PAGES IN ORDER TO UNDERSTAND FLOW AND CONTEXT. Template prepared by U.S. Venture Partners. Summary Highlights Lowlights Financial Update Topic 1 Topic 2 Topic 3. Last 30 Days Next 30 Days Board Session Minutes Stock Grants

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Board of Directors

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  1. Board of Directors ABC Company VIEW AS NOTES PAGES IN ORDER TO UNDERSTAND FLOW AND CONTEXT Company Confidential Template prepared by U.S. Venture Partners

  2. Summary Highlights Lowlights Financial Update Topic 1 Topic 2 Topic 3 Last 30 Days Next 30 Days Board Session Minutes Stock Grants Other BOD Items Q&A and Feedback Agenda Company Confidential

  3. Summary Statement • With the beta release of our first widget, ABC is entering a new phase, where customer feedback will begin to influence near-term priorities. • It is essential that at least 3 of our 8 beta sites become reference accounts for ABC within the next 6 months, if we are to make our financial plan and attract Series B investors • The departure of our VP Operations at a critical time for nailing down the manufacturing recipe is a major problem. Company Confidential

  4. Leverage Point Flow Chart 10 Points Of Leverage Direction Of Change Eng Invest/Exec CEO Search Market Growth Culture/Commun Top Line Leadership Product Sales Execution Customers Cust. Credibility Balance Sheet Expenses Competition Partners Financing Bottom Line BD Execution Volume Bottom Line Margins Eng Invest/Exec Mktng Execution Expenses Financial Controls Eng Invest/Exec Top Line Assure Future Retention Success Bottom Line Leadership Lock-in Key Emp Company Confidential

  5. Key Metrics Design Win Funnel Leads 74 June 23 v.2.0 release status = +7 days Aug 31 Hardware release status = on time 32 Qualified 12 Evaluating 7 Proposal 4* Wins *2 of 4 wins were target accounts Company Confidential

  6. Highlights • V.1.2 Beta release on time; six of eight sites have received the product. • Negotiated new capital equipment lease with Darthman Capital • Received unsolicited acquisition offer from WebBunny • Achieved Bookings and revenue goals for 2 consecutive months • OPEX and COGS, better than plan. Company Confidential

  7. Lowlights • Departure of VP Ops • WebTiger announces competitive product—available Q4 • No progress on building lease renegotiation • Yield issue on MCU chips still not well understood • Legal expenses 2X forecast • Marketing spending too far behind schedule, masking engineering over-spending Company Confidential

  8. Financial Summary Ingle J Prognert Controller Company Confidential

  9. P&L Annual Plan Company Confidential

  10. Balance Sheet Company Confidential

  11. Revenue Waterfall Note 1 Note 2 Note 3 Note 4 Company Confidential

  12. Gross Margin Waterfall Note 1 Note 2 Note 3 Note 4 Company Confidential

  13. OPEX Waterfall Note 1 Note 2 Note 3 Note 4 Company Confidential

  14. Net Profit Waterfall Note 1 Note 2 Note 3 Note 4 Company Confidential

  15. Capital Spending Waterfall Note 1 Note 2 Note 3 Note 4 Company Confidential

  16. Net Cash Flow Waterfall Note 1 Note 2 Note 3 Note 4 Company Confidential

  17. Cash Balance Waterfall Note 1 Note 2 Note 3 Note 4 Company Confidential

  18. Headcount Waterfall Note 1 Note 2 Note 3 Note 4 Company Confidential

  19. Topic 1: Engineering Summary Elic Tronskibhoy VP Engineering Company Confidential

  20. Topic 2: Competitive Analysis Peare Flackman VP Marketing Company Confidential

  21. Topic 3: Key Account Status Imada Numbas VP Sales Company Confidential

  22. Last 30 Days • Keep Q2 revenue on plan—done • Hire VP of Business Development—candidate considering offer • Add one distributor in ROW—added 2: Korea and Taiwan • Make 1.2 software release on time--done • Keep 2.0 on schedule—one week behind schedule currently • Keep 8/31 Hardware release on schedule—done • Renegotiate building lease—not done • Complete spending authorization matrix—done • Introduce new managers to focal review process—done Company Confidential

  23. Next 30 Days • Make 2Q revenue, bookings and expense goals • Source 3 candidates for VP of Operations • Complete building lease renegotiation • Develop Series B financing plan for BOD • Hire one sales director • Hire software engineering director • Win 2 (of top 5) targeted design wins • Complete competitive analysis; present to BOD • Complete spec for 3.0 software release • Develop 2 candidates for VP Ops • Understand and initiate remedial action on MCU yield issue Company Confidential

  24. Board Session Company Confidential

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