Wavecom Elite: Partnership Milestones & Future Prospects

1. Wavecom Lisbon Meeting April 19th 2007

2. Agenda • PassTime Introduction • Elite Introduction • Why We Chose Wavecom? • Partnership Milestones (so far) • What’s Next? • Questions & Answers

3. PassTime™ History • Founded in 1992 • Headquartered in Littleton, Colorado • Over 500,000 units have been sold • to over 3000 lenders • 75 employees and contractors • Over 65K units shipped in 2005 • Over 78K units shipped in 2006 • Over 120K units forecast in 2007

4. Technology History • Original products used key-fob • technology • Code based products released in 2001, • and then upgraded in 2004 • GPS and Analog wireless products • released in 2004 to widen functional • choices to lenders • GSM product due for release in 2007

6. Market Statistics Market Research conducted by Chris Leedom & Associates Data based on information provided by NIADA dealers on 50,000 vehicles

7. From Widgets to Solutions

8. Payment Solutions Company

9. PassTime Elite Platform

10. PassTime Elite Product • Manages payment cycles • Provides audible reminder sounds • Ability to remotely disable vehicle • Locates and tracks vehicle position • Reports back via GPRS (GSM network)

11. Ability to send customer warnings, disable/reactivate commands, location requests. • Warnings and disable commands encourage payments • Location functionality simplifies repossession process

12. Why we chose Wavecom? • Wavecom Platform Advantages • Unique features including DOTA • Module’s Ability to Manage • Using the module to run and prioritize multiple local applications • Modules use of OpenAT • More efficient than Java based applications • Path to WMP module • Path to reduced module cost and size • Compatible with eRide GPS • Market leading sensitivity of -162db

13. Elite V1 Product Wavecom Q26 GSM GPRS Module eRide GPS Module CAN Vehicle Interface Payment Assurance Module Bluetooth Local Communication Hardware Key Concepts The Wavecom GSM module (currently Q26 platform), is the central “brain” of the PassTime device. The Wavecom module has two primary responsibilities. The first is to send and receive signals via GSM/GPRS network (a CDMA module is also available). Secondly the Wavecom module is responsible for hosting some of the other module’s functionality. The second feature has multiple advantages; (i) by utilizing the Wavecom module’s hardware, other modules/chipsets need less functionality creating cost and operating efficiencies, (ii) the Wavecom module can optimize and prioritize the functions operating. For speed of development the eRide and Payment components are modules which Do not take full advantage of the Q26 management abilities. The CAN and Bluetooth elements were part of the board design, but were not Populated in v1 to accelerate market delivery.

14. Insurance Product Wavecom Q26 GSM GPRS Module Acceler- ometer CAN Module Plug & Play Power Source Back-Up Battery Additional Memory eRide GPS Chipset Key Concepts Utilizes the PassTime Elite v1 product platform, i.e. Wavecom module is the key wireless communication enabler, and the central microprocessor for the other functions populated on the board. The Insurance board removes the PassTime payment module and Bluetooth communication chipset, replacing These components with an accelerometer, backup battery, additional memory and a plug & play power interface.

15. Elite V2 Product Wavecom WMP GSM GPRS Module eRide GPS Chipset CAN Module Additional Functions/ Memory Payment Assurance Hardware Bluetooth Hardware Key Concepts The Elite v2 Product will utilize the full functionality and management of the Wavecom module concept. The v2 product adopts the WMP module from Wavecom to gain a smaller board design and realize a lower production cost. The Bluetooth and CAN areas are used for the first time. The eRide GPS module is switched out for a cheaper eRide GPS chipset. The WMP assumes more responsibility for managing payment cycles. More flash Memory is added.

16. Partnership Milestones • June First sales meeting • August Order for 100K modules placed • September First Q26 Issue Reported by PassTime • September First Wavecom Support Commitment First Executive Meeting in RTP • October Q2686 Alpha Stage Support • November First Executive Meeting in Paris • January Q2686 Beta Stage Support • March Q2687 Related Support • April Manufacturing Support • May Product Launch Support • June First Executive Meeting in Denver

17. Development Synergies • Bluetooth Integration • CAN Development • Accelerometer • Wi-SIM • Expanding Memory • Application Management • Module Performance Optimization

18. What’s Next? Automotive Applications – (per year, every year!). Finance Markets Mkt. Size (’06) PT Rev. Opp (’07)* PT Penetration (’07) US – Sub-Prime Market 5.5 M Vehicles $1.1 Billion 1.80% US – Used Car Market 15.1 M Vehicles $3.0 Billion 0.66% US – New Car Market 27.5 M Vehicles $5.4 Billion 0.36% Global Car Market 69 M Vehicles $13.8 Billion 0.15% Related Markets Mkt. Size (’06) PT Rev. Opp (’07)* PT Penetration (’07) US – Insurance Market 267M Vehicles $53.4 Billion 0.00% (Source III.org ’05) US – Rental/Fleet Market 2.8M Vehicles $560 Million 0.00% (Automotive Fleet ’04) US – Consumer Application 2M Vehicles $400 Million 0.00% (web research ’06) * Assumes average unit price of $200 USD

19. More Opportunities 110v Markets Mkt. Size (’06) PT Rev. Opp. (’07)* PT Penetration (’07) Laundry 1.4M $280 M 0.00% Vending 1.2M $240 M 0.00% Office 3.5M $700 M 0.00% Other Markets Market Size (’06) PT Rev. Opp. (’07)* PT Penetration (’07) Boats 750K $150 M 0.00% Construction 1M $200 M 0.00% Motor Cycles 500K $100 M 0.00% * Assumes average unit price of $200 USD

20. Growing Market Interest

21. Questions & Answers

22. Wavecom Lisbon Meeting April 19th 2007