1 Ohio Venture Association January 11, 2008 Nine Iron Innovations, Inc. dba – Charitee Golf 30275...
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Transcript of 1 Ohio Venture Association January 11, 2008 Nine Iron Innovations, Inc. dba – Charitee Golf 30275...
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Ohio Venture AssociationJanuary 11, 2008
Nine Iron Innovations, Inc.dba – Charitee Golf30275 Solon RoadSuite A3Solon, Ohio 44139
David Greenspan, CEOP - 440-248-6677F – 440-248-1566
Executive SummaryExecutive Summary
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Introduction to the Charitee SystemThe Charitee System uses a unique combination of automated solar powered video monitoring, wireless technology, and touch screen applications so that golf courses can offer hole-in-one, closest-to-the-pin, and other contests to every golfer, every round, adding excitement, improving golfer satisfaction, and increasing profits.
PRODUCTPRODUCT
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TechnologyCharitee Golf is the industry leading provider of Hole-In-One and Closest-To-The-Pin contests utilizing the latest in wireless, solar powered video monitoring technology.
The Company has a patent pending.
Charitee has 14 operational units in the field in 4 states. The Company is in the final phases of testing version 2.0 of the hardware technology. This version is expected to be deployed in mid Q1 of 2008 and is expected to increase functionality, reduce installation and maintenance and reduce overall costs by 30%.
Point of Sale System
Kiosk(Middle)
Video Monitor Pole
MARKETMARKET
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There are 12,600 daily fee golf courses operating in the United States. Charitee estimates that about ½ are potential customers – ones that meet our selection criteria.
Competition – none in the automated video monitoring arena.
MANAGEMENT TEAMMANAGEMENT TEAM
David Greenspan - Chief Executive OfficerDavid Greenspan has over 12 years in entrepreneurial businesses and 5 years experience in the golf industry. Dave was formerly the Executive Vice President and Chief Financial Officer for ExchangeBlvd, an on-line auction site provider for golf, musical instruments and jewelry. Mr. Greenspan has also served as the Chief Operating Officer for The PGA TOUR Radio Network. Steve Hiltebrant - Director of Sales Steve Hiltebrant has 10 years of sales and marketing experience and recently held the position of Vice President of Marketing and Direct Sales at Hiltebrant Industrial Sales. Steve comes to Charitee Golf with a background that consists of the perfect combination of both sales and golf industry experience.
David Allen - Director of Technical Operations David Allen brings over 30 years of technology experience and directs the deployment and improvement of the Charitee System. David was formerly Lead Engineer for Steris Corporation and Laboratory Manager for Hexagram Incorporated..
FINANCIAL HIGHLIGHTSFINANCIAL HIGHLIGHTS
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2008 2009Total Systems 55 180Gross Revenues ($000)Gross Margin ($000)
$1,560$702
$6,402$2,916
EBIT ($000) ($7) $1,903
SERVICE TEAMSERVICE TEAM
Attorney: Porter, Wright, Morris & ArthurAccountants: SS&GBank: NationalCityCurrent Investors:North Coast Angel Fund
JumpStartIMGIndividuals
CAPTIAL REQUESTEDCAPTIAL REQUESTED
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Amount of Financing $615,000
Price per Share: $7.50
Minimum Investment $10,000
Type of Security: Series A Convertible Preferred Stock
PLANNED USE OF FUNDSPLANNED USE OF FUNDS
Total $615,000
Hardware Installation Costs (21 units x $17,000 per unit) $357,000
Operating Activities $258,000