CONFERENCEimperialcapital-sic.com/wp-content/uploads/2019/12/SIC...across the global capital...

December 10-11, 2019 | InterContinental New York Barclay

CONFERENCE

2019

BARCLAY SALON II

BARCLAYSALON I

CLUB LOUNGE

ASTOR SUITE

GRANDBALLROOM

GALLERY

EMPIRE ROOM I EMPIRE ROOM II

MORGANSUITE

ROCKEFELLERSUITE

VANDERBILTSUITE

MEZZANINE

LOBBY

Company Presentations

Registration

LEGEND

One-on-One Meetings Located on the 4th Floor

ADDITIONAL INFORMATION

Breakfast and Lunch

Closing Cocktail Reception

1 WWW.IMPERIALCAPITAL.COM

Welcome to the 16th Annual Security Investor Conference

Dear Friends,

We are pleased to host 16th Annual Security Investors Conference (“SIC”) at the InterContinental New York Barclay.

This event continues to be the largest investment conference in the Security Industry with more than 65 public and privately held companies presenting this year and more than 500 registered attendees. SIC is a unique forum and an opportunity to

hear executive leaders discuss their company’s market positioning, strategic growth plans and reveal interesting investment ideas to an audience of savvy investors and industry stakeholders.

Our program kicks off with an industry overview in M&A, Debt & Equity Capital Markets and Commercial Banking as well as an overall Security Industry update. The lunch session will cover a high level overview of Public Equities in the Security Industry,

followed by exceptionally thought provoking keynote address. We are especially pleased to have Adi Krishnan, Head of Amazon Kinesis Video and Data Streams at Amazon Web Services (AWS), who will share his deep knowledge and presentation on

Transforming Big Data, IoT and AI on AWS Public Cloud.

We have assembled a full program today of compelling business presentations and priceless networking opportunities among leaders shaping our industry and those investors interested to provide capital for us all to realize our goals and aspirations.

Please take a few minutes to read through the information in this packet. It includes a wealth of information about SIC, including an agenda, a list of presenters and speakers, as well as other valuable resources for you to make the most of your

attendance. As you plan out your day, we encourage you to attend as many presentations as your schedule allows.

While all of you contribute to the success of this event, we would like to extend special thank you to our sponsors, speakers and presenting companies for supporting this year’s conference and making it such a success.

Get ready to inspire and be inspired!

Rick JuarezManaging Director

Security & Technology Group

John E. Mack III Co-Head, Investment Banking GroupHead of Security Group

William M. LynchManaging Director

Koby L. Tanzer, CFA Senior Vice President Head of Israel Office

Imperial Capital Israel Ltd.

2019 SECURITY INVESTOR CONFERENCE2

OVERVIEWImperial Capital is a full-service investment bank offering a uniquely integrated platform of comprehensive services to institutional investors and middle market companies. We offer sophisticated sales and trading services to institutional investors and a wide range of investment banking advisory, capital markets and restructuring services to middle market corporate clients. Paired with our proprietary research and sales & trading desk analysis, we provide investment analysis across an issuer’s capital structure, including bank loans, debt securities, the hybrid/bank capital marketplace (through our ELP Framework), post-reorganization equities, special situations claims and listed and unlisted equities. Our comprehensive and integrated service platform, expertise across the global capital structure, and deep industry sector knowledge enable us to provide clients with research driven ideas, superior advisory services, and trade execution. We are quick to identify opportunities under any market conditions and we have a proven track record of offering creative, proprietary solutions to our clients.

Imperial Capital’s market expertise and research coverage include the following sectors: Aerospace, Defense & Government Services, Airlines & Transportation, Business Services, Consumer, Energy (Clean & Traditional), Financial Services, General Industrials, Healthcare, Media & Entertainment, Real Estate, Lodging & Leisure, Security & Homeland Security and Technology & Telecom.

Imperial Capital has three principal businesses: Investment Banking, Institutional Sales & Trading and Institutional Research.

INVESTMENT BANKINGWe bring in-depth experience to leverage our sales & trading capabilities. Our investment banking team is dedicated to advising on and implementing creative, value-enhancing solutions for our corporate and institutional investor clients.

► Highly specialized talent and services ► Key services: Debt and Equity Financings, M&A Advisory, Restructuring Advisory ► Broad expertise with middle market companies ► Ability to leverage sales & trading expertise into investment banking opportunities

CAPITAL MARKETS OVERVIEW ► Ability to raise funds across the capital structure:

• Senior Secured Debt • High Yield Debt• Second Lien Debt • Hybrid Debt/Equity Securities

• Convertible Debt • Preferred Equity • Mezzanine and Subordinated Debt • Common Equity

► Significant experience in volatile markets• Transactions ranging from $10 million to $500 million

► Experts at monetizing illiquid assets such as trade claims

MERGERS & ACQUISITIONS OVERVIEW ► Strong buy-side, sell-side and stressed situations experience ► Expertise in strategic acquisition of companies through purchase of their debt ► Ability to provide/arrange acquisition financing for buyers even in tough markets ► Transactions ranging from $25 million to $1 billion ► Board advisory/strategic alternatives

RESTRUCTURING ADVISORY OVERVIEW ► In and out of court advisory engagements ► Relationships with lenders, creditors, financial sponsors and insolvency experts ► Extensive capital markets distribution capabilities, including DIP and rescue financings ► Experts in valuation and contested situations ► Post reorganization securities coverage ► Expert witness testimony ► Integration of valuation and monetization of trade claims

ABOUT IMPERIAL CAPITAL

WWW.IMPERIALCAPITAL.COM 3

INSTITUTIONAL SALES & TRADINGOur seasoned team of institutional sales & trading professionals meet the demand for a fully-integrated trading platform – driven by a focus on sophisticated research – that delivers ideas, execution, and liquidity to the institutional investment community. Our department of 100+ professionals specializes in providing specific and unique insights across the entire capital structure of issuers in the Americas and Europe.

In the primary market, we are a recognized leader in the issuance of middle market high-yield bonds, and in the secondary market, we offer wide-ranging trading capabilities in high-yield bonds, hybrid/bank capital securities, bank loans, high-grade bonds, convertible bonds, preferred stock, equities, trade claims, post-bankruptcy reorganized equities, as well as distressed and special situation securities. We pride ourselves on creating liquidity and presenting a differentiated product backed by a point of view. Our clients include hedge funds, mutual funds, insurance companies, pension funds, asset managers, private equity, CLO managers, trade claims creditors, family offices, financial sponsors, and corporate issuers

► Ability to trade across the corporate capital structure:

• High Yield Bonds • Convertible Bonds & Preferred Stock • Structured Products• Distressed Debt • Common Stock • Options & Warrants• Hybrid/Preferred Securities • Reorganized & Special Situations Equities • Issuer Repurchases• Investment Grade Bonds • Bank Debt • Illiquid & Orphaned Securities

INSTITUTIONAL RESEARCHAt Imperial Capital, we take a different approach to research, providing deep analysis that covers an issuer’s entire capital structure. In contrast to the traditional fixed income and equity model, our emphasis is on relative values throughout the capital structure within industries where we have extensive expertise.

We provide proprietary investment analyses in fixed income, convertibles and busted convertibles, equity and preferred stock including:

• Bank Debt • Convertible Securities• Investment Grade Debt • Preferred Stock• High Yield Debt • Common Stock • Distressed Debt • Litigation, Trade, and Liquidation Claims

We have impressive experience understanding complex capital structures and special situations such as bankruptcies and restructurings. In addition to providing recommendations on specific securities and event-driven opportunities, we also provide valuable insight into important industry trends, accomplished through three distinct research operations: Capital Structure Analysis, Desk Analysis and Industry Analysis.

Unique Publications:

• Reorganized Equities Monitor • Reorganized Equities Monitor• Middle Market Leveraged Loan Monitor • Leveraged Equities Monitor• Secured Bonds Monitor

Desk Analysis:

• Bank Debt Notes • Special Situation Analysis• Bankruptcy Trading Notes • Emerging Market Desk Analysis• Liquidation Analysis

ABOUT IMPERIAL CAPITAL

• Mobile and BYOD

• Network and Information Security

• Systems Integration & Consulting

• Security Monitoring and Smart Home

• Access Control & Intrusion

This announcement is not an offer to sell or a solicitation of an offer to buy the securities of these companies. This announcement appears as a matter of record only. Any investments that are offered through Imperial Capital, LLC, a registered broker dealer and member of FINRA and SIPC, are not FDIC insured.

RECENT TRANSACTIONS

Imperial Capital’s Security team is among the most experienced in the sector, offering superior M&A advisory, and debt or equity capital markets capabilities in combination with a unique deep understanding of multiple Security markets and value propositions. This domain knowledge encompasses leading-edge technologies and advanced service offerings, covering Government, Consumer and Enterprise markets.

Our professionals’ experience extends to the following Security Industry markets:

• Identity Solutions (Biometrics, Credentialing, IdM, Provisioning, etc.)

• Nextgen Surveillance (Video, Lawful Intercept, Big Data Analytics, etc.)

• Guard Services and Background Screening

• Explosives/Bio-/Radiological Sensors, and Other Detection Technologies

• Location-Based Technologies (M2M, RFID, GSM, etc.)

SELECT SECURITY TRANSACTIONS

Imperial Capital’s Security team is among the most experienced in the sector, offering superior advisory, and debt or equitycapital markets capabilities in combination with a unique deep understanding of multiple Security markets and valuepropositions. This domain knowledge encompasses leading-edge technologies and advanced service offerings, coveringGovernment, Consumer and Enterprise markets.

Our professionals’ experience extends to the following Security Industry markets:

Identity solutions (biometrics, credentialing, iDM, provisioning, etc.) Nextgen surveillance (Video, Lawful Intercept, Big Data Analytics, etc.) Guard services and background screening Explosives/bio-/radiological sensors, and other detection technologies Location-based technologies (M2M, RFID, GSM, etc.)

Mobile and BYOD Network and Information security Systems integration & consulting Security monitoring Access control & Intrusion

This announcement is not an offer to sell or a solicitation of an offer to buy the securities of these companies. This announcement appears as a matter of record only. Any investments that are offered through Imperial Capital, LLC, a registered broker dealer and member of FINRA and SIPC, are not FDIC insured.

1

Imperial Capital OverviewSelect Security Investment Banking Transactions

Financial Advisor to Ares Management, L.P.

A Portfolio Company of

ACQUIRED

$1,470,000,000

Co-Manager

INITIAL PUBLIC OFFERING


$187,956,000

Co-Manager

Exclusive Financial Advisor to MiOS LTD

WAS ACQUIRED BY


Financial Advisor to the Company

WAS ACQUIRED BY

Financial Advisor to IntelliVision Corp.

ACQUIRED

Financial Advisor to Buyer

WAS ACQUIRED BY

Exclusive Financial Advisor to On-Net Surveillance Systems, Inc.

WAS ACQUIRED BY


Exclusive Financial Advisor to Bradford Airport Logistics

GROWTH EQUITY FINANCING

Financing Advisor to KEYper Systems

WAS ACQUIRED BY

Exclusive Financial Advisor

$290,000,000

REFINANCE OF SENIOR CREDIT FACILITY

Exclusive Financial Advisor to LifeSafety Power

WAS ACQUIRED BY

Exclusive Financial Advisor to I-View Now

WAS ACQUIRED BY

Exclusive Financial Advisor to OpenEye

WAS ACQUIRED BY

(NASDAQ:ALRM)

Exclusive Financial Advisor to ATCi Communications, Inc.

WAS ACQUIRED BY


A Portfolio Company of A Portfolio Company of

1




ACQUIRED

$1,470,000,000

Co-Manager



$187,956,000

Co-Manager


WAS ACQUIRED BY



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WAS ACQUIRED BY


$290,000,000



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$1,470,000,000

Co-Manager



$187,956,000

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WAS ACQUIRED BY



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ACQUIRED

$1,470,000,000

Co-Manager



$187,956,000

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WAS ACQUIRED BY



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WAS ACQUIRED BY


$290,000,000



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(NASDAQ:ALRM)


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ACQUIRED

$1,470,000,000

Co-Manager



$187,956,000

Co-Manager


WAS ACQUIRED BY



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WAS ACQUIRED BY


$290,000,000



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(NASDAQ:ALRM)


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ACQUIRED

$1,470,000,000

Co-Manager



$187,956,000

Co-Manager


WAS ACQUIRED BY



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WAS ACQUIRED BY


$290,000,000



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(NASDAQ:ALRM)


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ACQUIRED

$1,470,000,000

Co-Manager



$187,956,000

Co-Manager


WAS ACQUIRED BY



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WAS ACQUIRED BY


$290,000,000



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WAS ACQUIRED BY


WAS ACQUIRED BY

(NASDAQ:ALRM)


WAS ACQUIRED BY



1




ACQUIRED

$1,470,000,000

Co-Manager



$187,956,000

Co-Manager


WAS ACQUIRED BY



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WAS ACQUIRED BY





WAS ACQUIRED BY


$290,000,000



WAS ACQUIRED BY


WAS ACQUIRED BY


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(NASDAQ:ALRM)


WAS ACQUIRED BY



1




ACQUIRED

$1,470,000,000

Co-Manager



$187,956,000

Co-Manager


WAS ACQUIRED BY



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WAS ACQUIRED BY


$290,000,000



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(NASDAQ:ALRM)


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1




ACQUIRED

$1,470,000,000

Co-Manager



$187,956,000

Co-Manager


WAS ACQUIRED BY



WAS ACQUIRED BY


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WAS ACQUIRED BY


WAS ACQUIRED BY





WAS ACQUIRED BY


$290,000,000



WAS ACQUIRED BY


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(NASDAQ:ALRM)


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1




ACQUIRED

$1,470,000,000

Co-Manager



$187,956,000

Co-Manager


WAS ACQUIRED BY



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WAS ACQUIRED BY


$290,000,000



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(NASDAQ:ALRM)


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1




ACQUIRED

$1,470,000,000

Co-Manager



$187,956,000

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WAS ACQUIRED BY



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$290,000,000



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(NASDAQ:ALRM)


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1




ACQUIRED

$1,470,000,000

Co-Manager



$187,956,000

Co-Manager


WAS ACQUIRED BY



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$290,000,000



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$1,470,000,000

Co-Manager



$187,956,000

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WAS ACQUIRED BY



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$290,000,000



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2

Imperial Capital OverviewSelect Security Investment Banking Transactions (cont.)

$35,400,000


Co-ManagerExclusive Financial Advisor

$600,000,000

RECAPITALIZATION WITH NOTE EXCHANGE

AND

HAVE MERGED

Financial Advisor to ipDatatel, LLC & Resolution Products, Inc.

Exclusive Financial Advisor to SDI Presence LLC

HAS SOLD ITS

INTEGRATED SECURITY SYSTEMS DIVISION

TO

Financial Advisor to AlarmForce and Rendered

Fairness Opinion

WAS ACQUIRED BY

$184,000,000

2


$35,400,000



$600,000,000


AND

HAVE MERGED



HAS SOLD ITS


TO


Fairness Opinion

WAS ACQUIRED BY

$184,000,000

2


$35,400,000



$600,000,000


AND

HAVE MERGED



HAS SOLD ITS


TO


Fairness Opinion

WAS ACQUIRED BY

$184,000,000

RECEIVED EQUITY GROWTH FINANCING

FROM

Financial Advisor to Ocean Aero, Inc.

AND

Financial Advisor to AAA Northern California

ACQUIRED

RECEIVED EQUITY GROWTH FINANCING

FROM

Financial Advisor to Ocean Aero, Inc.

AND

Financial Advisor to AAA Northern California

ACQUIRED

1


Exclusive Financial Advisor to Princeton Identity

EQUITY FINANCING

Exclusive Financial Advisor to Interface Security Systems

$290,000,000

SENIOR CREDIT FACILITY LED BY

August 2019

2


$35,400,000



$600,000,000


AND

HAVE MERGED



HAS SOLD ITS


TO


Fairness Opinion

WAS ACQUIRED BY

$184,000,000


SELECT SECURITY TRANSACTIONS


John E. Mack IIICo-Head, Investment Banking Group, Head of Security GroupOffice: (310) 246-3705 | [email protected]

Prior to joining Imperial Capital, Mr. Mack founded USBX Advisory Services, LLC, where he was the Chief Executive of this preeminent boutique investment banking firm focused on the Security Industry. Before founding USBX, Mr. Mack served as Chief Executive Officer and a member of the Board of Directors of Protection One, Inc., the second largest security alarm monitoring business in North America and a party to approximately 200 M&A/Finance transactions. Mr. Mack earned a B.A. from Stanford University and an M.B.A. from the University of California at Los Angeles.

INVESTMENT BANKING

Rick JuarezManaging Director, Security & Technology Investment Banking GroupOffice: (415) 615-4002 | [email protected]

Mr. Juarez is Managing Director focusing on the cloud security and infrastructure software and service sectors. Mr. Juarez was previously a Managing Director with Waller Capital. Prior to Waller, he was the Co-Head of Technology Investment Banking at Morgan Joseph TriArtisan where he advised infrastructure companies such as Advanced Data Centers, Media Temple, Digsby, Local.com, GlobalScape and others. Prior to Morgan Joseph, he worked as the Head of Investment Banking at Nollenberger Capital Partners. Mr. Juarez also worked as a Managing Director and Private Placement Investment Committee Member at Robertson Stephens & Co. Mr. Juarez has more than 20 years of combined investment banking, strategy, and operations experience. He has advised on more than 50 public/private financings and merger and acquisition transactions representing more than $8 billion in transaction value. Mr. Juarez earned his M.B.A. from the Harvard Business School, and received his B.S. in Finance, Magna cum Laude, from California State University, East Bay. He has also been awarded several U.S. Patent Office software patents.

William M. LynchManaging DirectorOffice: (310) 246-3789 | [email protected]

Bill Lynch is a Managing Director focusing on Security M&A and strategic advisory. Prior to joining Imperial Capital, Mr. Lynch spent over 18 years at ProFinance Associates, Inc., where he spent his tenure working security, maritime technology, and high gross margin and repetitive income service businesses. In security and life-safety, he has managed and completed transactions in software, hardware, sensors, recurring revenue monitoring, and integration service businesses. Prior to ProFinance, Mr. Lynch was in industrial manufacturing, where he led strategic and capital planning, distribution, marketing, and sales with responsibility for the general management of the western United States for the Industrial Gypsum Division of USG Corporation. Mr. Lynch earned a B.S. in Business Administration from Menlo College.

IMPERIAL CAPITAL SECURITY TEAM

Koby L. Tanzer, CFA Senior Vice President, Head of Israel OfficeImperial Capital Israel Ltd. Office: +972 (54) 720-0999 | [email protected]

Mr. Koby Tanzer is a Sr. Vice President and Head of the firm’s Israel Group. Mr. Tanzer has been a member of Imperial Capital’s Security Practice Group since 2008. In addition to spearheading the effort to launch Imperial’s UAV/UAS banking coverage effort, he focuses on a range of corporate finance transactions for companies across the broader security sector.

Prior to joining Imperial Capital, Mr. Tanzer was an Analyst in Lehman Brothers’ Investment Banking Division focusing on business service companies and financial sponsors. While at Lehman Brothers, Mr. Tanzer worked on M&A advisory, leveraged finance and equity underwriting transactions. Mr. Tanzer received his B.A. in Business Economics from the University of California, Los Angeles and holds the Chartered Financial Analyst (CFA) designation. He served in the Israel Defense Force’s Combat Engineering Corps as an Infantry Sapper and is an active member of his Regional Search & Rescue Team.

INVESTMENT BANKING

Michael KimAssociateOffice: (310) 246-3640 | [email protected]

Michael Kim is an Associate, Investment Banking in the Los Angeles office of Imperial Capital. Prior to joining the Security Practice Group, he was a senior research analyst in the firm’s Institutional Research Group, where he focused on the Security Technology and Software sectors. He brings over a dozen years of experience in equity research and established extensive relationships with leading institutional investors, including mutual funds, hedge funds, and asset management firms. Before Imperial Capital, Mr. Kim served as a senior research analyst at Robertson Stephens and Roth Capital Partners. Michael’s investment insights have been featured in numerous financial media outlets, including The Wall Street Journal, Barron’s, Forbes and CNBC. Mr. Kim received an M.B.A. from UCLA Anderson and B.A. in Economics from the University of California, San Diego.

Jeff KesslerManaging Director, Institutional Research GroupOffice: (212) 351-9701 | [email protected]

Mr. Kessler is a Managing Director in the Institutional Research Group. Mr. Kessler has more than 25 years of experience covering security industry for the investment community. He joined Imperial Capital in 2008 from Lehman Brothers where he had served 21 years as the senior security/business services analyst. He was named in December 2006 by Security Magazine as one of the industry’s “25 Most Influential Leaders.” In addition to publishing the Security Industry Annual, and Imperial Capital’s Security Monitor, Mr. Kessler co-founded the Securing New Ground industry conference, which is run by the Security Industry Association and is now in its 17th year. Mr. Kessler earned a Bachelor of Arts degree in political science / economics from McGill University, a Master of Arts degree in political science/economics from McGill University, and a Master of Science degree in journalism from Columbia University.

INSTITUTIONAL RESEARCH


IMPERIAL CAPITAL SECURITY TEAM


7:30 AM SECURITY INVESTOR CONFERENCE REGISTRATIONGallery - Mezzanine Level

7:30 AM - 9:00 AM BREAKFAST & OPENING SESSIONGrand Ballroom

M&A and Capital Markets Update

John E. Mack III Co-Head, Investment Banking Group, Head of Security Group Imperial Capital, LLC

Debt Markets & Commercial Banking

John Robuck Managing Director, Security Finance Capital One Bank Commercial & Specialty Finance, Commercial Banking

9:00 AM - 12:00 PM COMPANY PRESENTATIONSBarclay Salon I, Barclay Salon II, Empire I, Empire II, Morgan Suite

12:00 PM - 1:15 PM LUNCH AND KEYNOTE PROGRAMGrand Ballroom

Investing in the Rapidly Changing World of Logistical and Physical Security

Jeff Kessler Managing Director, Institutional Research Group Imperial Capital, LLC

Transforming Big Data, IoT and AI on AWS Public CloudAditya KrishnanHead of Amazon Kinesis Video and Data StreamsAmazon Web Services (AWS)

1:15 PM - 4:45 PM COMPANY PRESENTATIONSBarclay Salon I, Barclay Salon II, Empire I, Empire II, Morgan Suite

4:45 PM CLOSING COCKTAIL RECEPTIONClub Lounge

WEDNESDAY, DECEMBER 11, 2019

CONFERENCE AGENDA

BREAKFAST & OPENING SESSION 7:30AM - 9:00AM, GRAND BALLROOM

John E. Mack IIICo-Head, Investment Banking Group, Head of Security GroupImperial Capital, LLC

Prior to joining Imperial Capital, Mr. Mack founded USBX Advisory Services, LLC, where he was the Chief Executive Officer of this preeminent boutique investment banking firm focused on the Security Industry. Before founding USBX, Mr. Mack served as Chief Executive Officer and a member of the Board of Directors of Protection One, Inc., the second largest security alarm monitoring business in North America and a party to approximately 200 M&A/Finance transactions. Mr. Mack earned a B.A. from Stanford University and an M.B.A. from the University of California at Los Angeles.

M&A AND CAPITAL MARKETS UPDATE

DEBT MARKETS & COMMERCIAL BANKING

John RobuckManaging Director, Security FinanceCapital One Bank Commercial & Specialty Finance, Commercial Banking

Mr. Robuck is Managing Director of the Security Finance lending practice within Capital One Bank’s Commercial and Specialty Finance business. In this role, Mr. Robuck leads a team in the underwriting and structuring of senior asset-based and cash-flow financings for middle-market businesses. Specific sectors of focus include alarm monitoring, public safety, government contracting, defense/homeland security, and systems integration businesses.

Prior to joining Capital One in 2011, Mr. Robuck served as Director of CapitalSource Finance’s Security Lending Group where he helped to develop the growth strategy for the business and identified opportunities with new private equity sponsors, intermediaries, and businesses, while continuing to build a portfolio of well-performing, high-yield senior loans. Mr. Robuck has an established presence in the physical and government security markets and participates in several security industry conferences as a panelist and has been often quoted in industry publications. Mr. Robuck also held various other underwriting and portfolio management positions at CapitalSource Finance prior to his work in the Security Industry.

Mr. Robuck has more than 14 years of senior debt investment experience and more than 12 years of specific security industry experience.


SPEAKERS


LUNCH PROGRAM 12:00PM - 1:15PM, GRAND BALLROOM

Jeff KesslerManaging Director, Institutional Research GroupImperial Capital, LLC

Mr. Kessler is a Managing Director in the Institutional Research Group. Mr. Kessler has more than 25 years of experience covering security industry for the investment community. He joined Imperial Capital in 2008 from Lehman Brothers where he had served 21 years as the senior security/business services analyst. He was named in December 2006 by Security Magazine as one of the industry’s “25 Most Influential Leaders.” In addition to publishing the Security Industry Annual, and Imperial Capital’s Security Monitor, Mr. Kessler co-founded the Securing New Ground industry conference, which is run by the Security Industry Association and is now in its 17th year. Mr. Kessler earned a Bachelor of Arts degree in political science / economics from McGill University, a Master of Arts degree in political science/economics from McGill University, and a Master of Science degree in journalism from Columbia University.

INVESTING IN THE RAPIDLY CHANGING WORLD OF LOGISTICAL AND PHYSICAL SECURITY

KEYNOTE SPEAKER

TRANSFORMING BIG DATA, IOT AND AI ON AWS PUBLIC CLOUD

Aditya Krishnan.Head of Amazon Kinesis Video and Data StreamsAmazon Web Services (AWS)

Adi Krishnan is the Head of Amazon Kinesis Video and Data Streams at Amazon Web Services (AWS). He oversees all product, engineering, and business for massively scalable, cloud-based, streaming data services that power customers around the world.

For 7 years, he has been working to build platforms that enable sources of streaming data like IoT devices, video sensors, mobile apps, servers and other IT infrastructure, to be processed by large scale data and video analytics systems that generate real-time insights to drive businesses forward. Prior to Amazon Web Services, Adi held a variety of product management roles at Microsoft Corp. across enterprise server technologies, high performance computing, and consumer online search.

SPEAKERS


COMPANY PRESENTER

3SI Security Systems Todd Leggett, President & CEO

ACRE LLC Joe Grillo, CEO

ADT Inc. (ADT) Jim DeVries, CEO & President

AES Corporation Patrick Moran, President

Affiliated Monitoring Daniel Oppenheim, CEO

Alula Brian McLaughlin, CEO

Arctic Wolf Networks Brian NeSmith, Co-Founder & CEO Gregor McCole, CFO

Atlas Dynamics Ltd. Guy Cherni, Chief Marketing Officer

Authentix, Inc. Kevin McKenna, President & CEO

Avante Logixx Inc. (TSX.V: XX) Craig Campbell, CEO

Becklar, LLC (Avantguard and Freeus, LLC) Josh Garner, CEO of Becklar, LLC

BioConnect Rob Douglas, Chairman & CEO

BIO-key International (BKYI) Mike Depasquale, Chairman & CEO

Bradford Airport Logistics Ltd. Benjamin Richter, CEO

Brink’s Company (BCO) Doug Pertz, President and CEO

Brinks Home Security™ (SCTY) Jeff Gardner, President & CEOFred Graffam, CFO

Brivo Steve Van Till, CEO

Carbyne Paul Tatro, President of North America Operations

Cobwebs Technologies Omri Timianker, President Eyal Bachar, MD North Americas

Comcast’s Xfinity Home (CMCSA) Raman Sidhu, Executive Director Derrick T. Dicoi, VP, Strategy and Product Management

Costar Technologies, Inc. (CSTI) Jim Pritchett, President & CEO

CyFIR LLC Ben Cotton, Founder Brian Cook, CEO

Eagle Eye Networks, Inc. Dean Drako, Founder & CEO Ken Francis, President

Edgybees, Ltd. Adam Kaplan, CEO

eSENTIRE, Inc. J. Paul Haynes, President & Chief Operating Officer

Essence Group Dr. Haim Amir, CEO & Founder

Evolv Technologies, Inc. Michael Ellenbogen, CEO & Founder

Eyewitness Surveillance Rush McCloy, CEO

FE Moran Security Solutions, LLC Brett D. Bean, President & CEO

Feenics Inc. Denis Hébert, President Paul DiPeso, Executive Vice President

FieldHub Inc. Miles Fawcett, CEO

G4S plc (L:GFS) John Kenning, CEO, Americas Region

Identiv, Inc. (INVE)Steve Humphreys, CEO Sandra Wallach, CFO

COMPANY PRESENTERS


COMPANY PRESENTER

Intelligo Group Shlomo Mirvis, CEO

Interface Security Systems Michael Shaw, CEO Sean Foley, Sr. Vice President

Ipsotek Ltd. Andrew Eggington, CFO Charlie Bennett, Head of Sales EMEA

I-View Now Larry Folsom, President

Medical Guardian, LLC Geoff Gross, Founder & CEO

Mission Critical Partners Darrin Reilly, COO

NAPCO Security Technologies, Inc. (NSSC) Richard Soloway, Chairman & CEO

Netwatch Group David Walsh, CEO

Newmark Security plc (L: NWT) Marie-Claire Dwek, CEO

Nok Nok Labs Phillip Dunkelberger, President & CEO

Notion Brett Jurgens, Co-Founder & CEO

Pelco, Inc. Kurt Takahashi, CEO

Potter Electric Signal Company, LLC Gerry Connolly, CEO

Prosegur (BME:PSG) Chris Schoofs, Capital Markets Director Antonio de Carcer, Head of IR

Prosegur Cash, S.A. (BME:CASH) Pablo de la Morena, Head of IR

Rapid Response Monitoring Services, Inc. Spencer Moore, VP of Sales & Marketing

RapidSOS Michael Martin, CEO

Razberi Technologies Doug Dickerson, CEO

RemoteLock, Inc. Nolan Mondrow, Founder & CEO

Resideo Technologies, Inc. (REZI) Bob Ryder, CFO

RPost Zafar Khan, CEO

Salient Systems Chris Meiter, President

ShotSpotter, Inc. (SSTI) Alan Stewart, CFO

SureView Systems Craig Evans, Co-Founder & Managing Director Chris Brown, VP Central Stations

UniKey Technologies Inc. Phil Dumas, Founder & CEO

Universal Electronics Inc. (UEIC) Paul Arling, Chairman & CEO

vArmour Timothy Eades, CEO

Verint Systems Inc. (VRNT) Doug Robinson, CFOAlan Roden, SVP, Corporate Development

Vivint Smart Home Alex Dunn, President Dale Gerard, Interim Chief Financial Officer

VTI Security (VideoTronix, Inc.) Bryan Viau, COO

WaveLynx Technologies Corporation Laurie Aaron, Exec. Vice President Hugo Wendling, President

WiseKey (WIHN.SW) Carlos Moreira, CEO Peter Ward, CFO

COMPANY PRESENTERS


Source: Company

While this summary is in circulation, Imperial Capital, LLC (“IC”) or its affiliates may, from time to time, make purchases or sales for their own accounts of securities of any entity. IC’s market making may constitute, in the case of equity securities and certain debt securities, standing ready to make purchases or sales of securities on a regular or continuous basis or quoting markets in debt securities. Notwithstanding IC’s market making activities as of the date hereof, while this summary is in circulation IC may begin or discontinue such market making activity for any entity. IC is a member of FINRA (www.finra.org) and SIPC (www.SIPC.org).

This summary is for informational purposes only. Under no circumstances is it to be used or considered as an offer to sell, or a solicitation of an offer to buy any security. While the information contained in this summary has been obtained from sources believed to be reliable, we do not represent or guarantee that the summary is accurate or complete, and it should not be relied upon as such. Based on information available to us, prices in this summary are as of the date hereof. The securities mentioned in this summary involve substantial risk and should generally be purchased only by investors able to accept such risk.

101 Lindenwood Drive, Suite 200Malvern, PA 19355

(610) 280.20003si.com

Sector: Security for Financial, Retail and Law Enforcement Markets

Founded in 1970, 3SI is the market leader and pioneer in advanced security solutions for asset protection, customer safety, and recovery. We are constantly innovating with our cutting-edge development in GPS tracking and covert packaging. 3SI partners with law enforcement agencies worldwide and operates a 24/7 support center, leading to the consistent apprehension of criminals and recovery of our clients’ assets. Businesses across the globe from blue-chip financial institutions to top retailers trust and depend on 3SI to create a #SaferWorld.

3SI Solutions• Tracking uses multiple technologies to help police track crimes, recover stolen property, and arrest criminals• Cash Tracing uses ink, smoke, and dye to foil robberies, recover stolen cash, and apprehend criminals• SaaS Safety Systems use APP technology to protect staff members against crime and provide detailed reporting to

increase efficiency and reduce costs

Company Highlights• World leader in Asset Protection• Recognized security partner in the financial, retail and law enforcement markets• Significant recurring revenue with satisfied customer base• Established international presence• $100,000,000+ Assets Recovered• 250,000+ Locations Protected Worldwide• 132,000 Trackers Deployed• 14,000 Criminals Apprehended• 8,000 Law Enforcement Agency Partners

Growth Opportunities• History of innovation and business resilience• Seasoned management team• Strong financial performance with multi-pronged revenue streams• Scalable service offering and business model

Ownership: The Company is owned by LLR Partners, a private equity firm located in Philadelphia, PA

Number of Employees: 200Annual Revenues: From 2014 to 2018, the Company’s revenue increased from $43 million to $60 million, representing a compounded annual growth rate of 6.4%.

3SI Security Systems

COMPANY PRESENTERS


Source: Company



Sector: Access Control, Intrusion, Communication Networks

ACRE LLC’s operating companies provide solutions for the electronic security market with a focus on access control and

complimentary technologies. ACRE was founded in 2012 by security industry executive Joseph Grillo with the objective to

invest in, acquire, partner, integrate and grow specialized manufacturing companies in the access control, intrusion and video

product segments. The components and systems designed and manufactured by ACRE’s portfolio of companies are sold

through traditional distribution, integrator and OEM channel partners. The solutions are provided for a wide variety of end

users helping to secure high value assets, including both the public and private sector in applications of all sizes and complexity.

The electronic security industry has grown significantly at rates exceeding general economic growth measures such as GDP.

This growth is despite tough economic climates and considerable market fragmentation. The drivers of this growth are

associated with organizations’ sensitivity to protect assets in an environment where there is an increased risk of criminal

activity such as terrorist attacks, inside theft and traditional crime.

ACRE’s portfolio includes: 1) Vanderbilt, a global provider of security systems of intrusion and access control with both cloud

and on-premise offerings. 2) Comnet, a global provider of communication networking products utilizing fiber optics, Ethernet

and wireless connectivity technology. 3) Open Options, an open architecture access control solution. 4) RS2, an access

management solution provider.

ACRE believes there is opportunity within this dynamic market to leverage both organic and acquisitive growth to continue to

grow into a significantly larger and profitable supplier within the fragmented competitive global landscape.

Ownership: Private

Number of Employees: 450

Annual Revenues: <200M

10161 Park Run Drive, Suite 150 Las Vegas, Nevada 89145

(949) 637-0423www.acre-co.com

ACRE LLC

COMPANY PRESENTERS


ADT Inc. (NYSE: ADT) 1501 Yamato Road Boca Raton, FL 33431

www.adt.com

Market Information as of 11/13/2019 Cap Structure (mm) 9/30/2019 Historical Financials ($mm exc per share data)Ticker ADT FD Shares (Wt Avg) 739.9 2015 2016 2017 2018 LTM YTD 18 YTD 19Latest Close Price $7.72 Market Cap(1) $5,711.7 Sales $549.3 $2,949.8 $4,315.5 $4,581.7 $5,012.5 $3,396.2 $3,827.052 Week Hi - Low $8.31 - $4.25 Total Debt $9,851.0 Gross Profit 300.2 2,256.3 3,419.8 3,540.3 3,708.4 2,638.3 2,806.4LTM Stock Performance 0.5% Cash $155.8 SG&A 159.1 858.9 1,209.2 1,247.0 1,372.1 922.6 1,047.8Float (Shares in mm) 111.8 Preferred - Adj. EBITDA 177.2 1,532.9 2,352.8 2,453.5 2,489.6 1,839.9 1,876.1Short Interest (as % of Float) 39.5% Minority Interest - EBIT (28.5) (229.3) 282.4 277.8 143.0 267.2 132.3Avg. Day Vol - 3 mos (000s) 1,713.6 Enterprise Value $15,406.9 Net Income (72.8) (536.6) 342.6 (609.2) (501.5) (459.7) (352.0)Dividend/sh (latest annualized) 0.1 Book Value of Equity $3,711.2Dividend yield 1.8% Tangible Book Value ($8,061.3) CFO $36.3 $617.5 $1,591.9 $1,787.6 $1,840.6 $1,406.0 $1,459.0

Capex (64.7) (547.1) (713.3) (703.1) (731.6) (522.4) (551.0)Liquidity (mm) 9/30/2019 FCF (28.4) 70.4 878.6 1,084.5 1,109.0 883.5 908.0Available $400.0 FCF/Share (0.04) 0.10 1.19 1.47 1.50 1.19 1.23Liquidity (Available + Cash) 555.8(1)As of 11/12/2019. Source: Historical Financials from Capital IQ and Company SEC Filings.

Company Info Balance Sheet Metrics 9/30/2019 Performance RatiosSector Security Systems & Services Days Sales Out 16 2015 2016 2017 2018 LTM YTD 18 YTD 19Last Reported Qtr 9/30/2019 Days Inv On Hand 36 YoY Rev Grth 17.7% 437.0% 46.3% 6.2% 11.3% 5.8% 12.7%Currency USD Days Payable Out 68 Gross Margin 54.6% 76.5% 79.2% 77.3% 74.0% 77.7% 73.3%Employees 19,000 Net Work Cap % of Rev -2.0% SG&A / Sales 29.0% 29.1% 28.0% 27.2% 27.4% 27.2% 27.4%Website www.adt.com Net Fixed Assets % Rev 62.1% EBITDA Margin 32.3% 52.0% 54.5% 53.6% 49.7% 54.2% 49.0%Telephone (855) 497-8573 Cash / Share $0.21 EBIT Margin NM NM 6.5% 6.1% 2.9% 7.9% 3.5%Next Earnings Date 11/12/2019 Book Value / Share $5.02 Net Margin NM NM 7.9% NM NM NM NM

TBV / Share ($10.90) ROIC % NM NM 10.4% 10.0% 4.7% 10.2% 4.4%

Source: Capital IQ and Company SEC Filings. Source: Performance Ratios calculated based on historical financials from Capital IQ and SEC Filings.

Interest As of Scheduled Maturities (1) Purchase Interest Operating CapitalCapitalization Table (in mm) Coupon Expense Maturity 9/30/2019 (in mm) Obligations Payments Debt(2) Leases Leases

Cash $155.8 Less Than 1 Year $64.8 $622.3 $39.8 $40.2 $20.6First Lien Term Loan L + 3.25% Varies Sep-23 3,110.0 1-3 Years 15.7 1,234.3 1,379.7 58.2 27.5Prime Notes 9.3% 115.3 May-23 1,246.0 3-5 Years 2.0 570.2 8,050.8 39.5 6.1Other Debt N/A N/A N/A 79.7 More than 5 Years 1.0 339.7 750.0 17.7 - Notes Varies Varies Varies 5,702.7 Total $83.5 $2,766.5 $10,220.4 $155.6 $54.1 Less: Unamortized debt discounts (287.4)Total Debt $9,851.0Net Debt 9,695.2Preferred Equity - Minority Interest - Shareholders' Equity (Book) 3,711.2Total Capital $13,562.2

(1) From latest 10K.Source: Capital IQ and Company SEC Filings. (2) Debt scheduled maturities does not factor in unamortized debt discounts.

11/13/2019

This summary is for informational purposes only. Under no circumstances is it to be used or considered as an offer to sell, or a solicitation of an offer to buy any security. While the information contained in this summary has been obtained from sources believed to be reliable, we do notrepresent or guarantee that the summary is accurate or complete, and it should not be relied upon as such. Based on information available to us, prices in this summary are as of the date hereof. The securities mentioned in this summary involve substantial risk and should generally bepurchased only by investors able to accept such risk.

While this summary is in circulation, Imperial Capital, LLC ("IC") or its affiliates may, from time to time, make purchases or sales for their own accounts of securities of any entity. IC’s market making may constitute, in the case of equity securities and certain debt securities, standing readyto make purchases or sales of securities on a regular or continuous basis or quoting markets in debt securities. Notwithstanding IC’s market making activities as of the date hereof, while this summary is in circulation IC may begin or discontinue such market making activity for any entity.IC is a member of FINRA (www.finra.org) and SIPC (www.SIPC.org).

ADT Inc. ("ADT" or the "Company") provides security and automation solutions for homes and businesses in the United States and Canada. It provides a range of fire detection, fire suppression, video surveillance, andaccess control systems to residential, commercial, and multi-site customers. The Company primarily offers monitored security and automation solutions, including the installation and monitoring of security and premisesautomation systems designed to detect intrusion, control access, sense movement, smoke, and other environmental conditions and hazards; and address personal emergencies such as injuries, medical emergencies, orincapacitation. The Company was founded in 1874 and is headquartered in Boca Raton, Florida.

Notes:- On October 17, 2019, ADT announced it has taken another step to enhance its owned and operated professional monitoring services by acquiring I-View Now, a leading video alarm verification service. I-View Now’sverification technology, paired with the core monitoring strengths of ADT, will help reduce false alarms and optimize priority response from emergency services.- On October 1, 2019, TELUS Corp, a telecommunications company, has entered into an definitive agreement to acquire ADT Security Services Canada Inc, a provider of residential, small and large business electronicsecurity, fire protection, and other related alarm monitoring services, from ADT Inc. for a cash consideration of CAD700 million (USD528.62 million). The transaction is expected to close in the fourth quarter of 2019.

1501 Yamato Road Boca Raton, FL 33431

www.adt.com

ADT Inc. (ADT)11/13/2019

COMPANY PRESENTERS


Source: Company



Sector: Access Control, Information Security, Residential Security & Home Automation Services

AES Corporation has been providing wireless communication products and services to the fire and life safety industry for

decades, protecting people and property for over 40 years. During this time, our Customer Partners have optimized their

investment by owning and operating their private licensed networks built using AES mesh radio technology.

AES is a proven supplier with over a half million subscribers installed worldwide. When our Customer Partners launch their

dedicated network, it creates a long-term relationship bringing value to both the network owner and ultimately the end user.

Our mesh radio networks are easy to install, manage, and the most reliable communications platform available on the market

today with the quickest response time for delivering critical event signals.

We support our customers every step of the way from the initial stage of network startup, professional AES Training Academy

technical hands on product training, network planning and site certification, to continuously providing ongoing support long

after the system is fully operational. Our dedicated AES Support team is available Mon-Fri from 8am-8pm EST and 24/7 for

emergency IP Link or MultiNet Receiver down situations.

We are committed to the design and development of products and services that ensure optimal network and equipment

operations, providing peace-of-mind that the network is operating at peak performance. AES products are tested to AES Best

Practices and the highest industry standards, earning UL listings and meeting NFPA code compliance.

Originally developed for rigorous military installations, AES mesh radio technology was designed for alarm communications

and can be used today for multiple monitoring needs. AES products and services are engineered for real-time network

management, fire, burglary, central station, and building monitoring applications serving commercial, residential, and

government markets worldwide.

Visit our website Videos gallery page to view ‘How Mesh Radio Technology Works’ and see the latest updates recently added.

Check out our Resources web page to find product datasheets, manuals, and more at www.aes-corp.com.

Contact us today to learn more about our technology, company capabilities, and why alarm dealers, installers, and first

responders rely on AES products and services. AES-IntelliNet® is a registered trademark of AES Corporation.

Ownership: Michael & Ann Sherman

Number of Employees: 60-65

Annual Revenues: Privately Held Company, Annual Revenue not shared publicly.

285 Newbury Street Peabody, MA 01960 USA

(800) 237-6387www.aes-corp.com

AES Corporation

COMPANY PRESENTERS


Source: Company



WWW.IMPERIALCAPITAL.COM

2 Stahuber AvenueUnion, NJ 07083

(800) 296-9000www.affiliated.com

Sector: Monitoring Services Provider

Founded in 1977, Affiliated Monitoring keeps millions of people safe through live agent monitoring of the intrusion, fire and

health systems that protect them. Affiliated is a high-growth technology company that is proud to count businesses across

North America as our partners, ranging from iconic industry-recognized security, PERS and IoT providers to unique technology

start-ups. These businesses partner with Affiliated to take advantage of our unique blend of capabilities that help them scale,

innovate and profit.

Affiliated Monitoring takes a journey with each of our partners to deeply understand their needs so that we can solve

problems from their perspective. This immersive approach—combining specialized experts, industry knowledge and

pioneering technology applications—is part of why Affiliated was recognized as the Monitoring Center of the Year in 2018 by

The Monitoring Association (TMA).

Our geographically diverse redundant monitoring centers in New Jersey and Texas set the industry standard for uptime. These

UL 2050 listed monitoring centers are staffed by knowledgeable and courteous monitoring specialists who have all graduated

through an intensive classroom training and certification period. Additionally, we have assembled an experienced software

development group that delivers to our partners the latest services and tools that they need to be successful.

Affiliated has completed its long term management succession plan and possesses a talented and energetic executive

leadership group that combines new and creative thinking with deep domain experience. Affiliated powers the growth engines

of the most innovative and entrepreneurial companies with our combination of high value monitoring services, advanced

technology solutions and industry guidance.

Ownership: Private


Annual Revenues: N/A

Affiliated Monitoring

COMPANY PRESENTERS


Source: Company



2340 Energy Park Drive, Suite 100 Saint Paul, MN 55108

(888) 88-ALULAAlula.net

Sector: Security and Alarm Services

Alula is the only vertically integrated security and home automation platform purpose-built for today’s independent security

and installation professionals.

From sensors to hub to network, Alula offers a complete, end-to-end solution and one accountable partner. Alula’s interactive

services are delivered via a seamless, integrated app that controls security, video and automation on a lightning-fast, encrypted

network.

Today, thousands of partners across North America have nearly 300,000 active locations secured and connected with Alula.

Designed for professionals, the Alula platform provides a complete security, automation and video solution for renters,

homeowners and commercial installations.

Based in St. Paul, Minnesota, the Alula platform is available nationwide through distributors that cater to the alarm and

integrator industry.

For more information about Alula, visit http://alula.net.

Ownership: Private



Alula

COMPANY PRESENTERS


Source: Company



111 West Evelyn AvenueSunnyvale, CA 94086

(888) 272.8429Arcticwolf.com

Sector: Managed Detection and Response, Managed Vulnerability Assessment

Company Overview

Through the industry’s original Concierge Security™ Team, Arctic Wolf™ provides the scalable managed cybersecurity protection

IT-constrained companies need to keep their critical data, networks, web-based applications, and devices safe. Working as an

extension of your internal team, highly-trained security experts deliver 24x7 cloud-based monitoring, risk management, threat

detection, and response services that protect companies from ever-evolving methods of cyber attack. By escalating only issues

that require action, Arctic Wolf eliminates noise, enabling IT resources to focus on other priority initiatives.

Managed Detection and Response

Pairing machine learning with human insight, Arctic Wolf Managed Detection and Response (MDR) detects attacks as they

occur and after they occur. By analyzing billions of events and correlating them in real-time against IOCs, Arctic Wolf MDR

shortens the Mean Time to Identify (MTTI) a breach and speeds remediation of cyber attacks.

Managed Risk

Without understanding where their vulnerabilities lie, organizations are left exposed to attack. Through continuous vulnerability

scanning and endpoint analytics, the Arctic Wolf Managed Risk solution helps companies quantify their risk, prioritize their

prevention efforts, and ultimately minimize their attack surface.

Personal, predictable protection – it’s the Arctic Wolf difference.

Ownership: Privately held

Number of Employees: 350+

Annual Revenues: Not disclosed but doubling every year for last 5 years

Arctic Wolf Networks

COMPANY PRESENTERS


Source: Company



Sector: Aerospace and Defense, HLS, Perimeter Security, Unmanned Aerial Systems

Atlas Dynamics is a leading designer and manufacturer of autonomous Unmanned Aerial Systems for professional use cases. Based in Tel Aviv, Washington, D.C., London and Riga, Atlas was founded in 2015 to set the industry standard for autonomous and interconnected unmanned aerial vehicle (UAV/drone) based systems. Atlas provides customers with greater operational flexibility through Autonomous and Multi-UAS operation that enables mission consistency and valuable data collection at all time, that is used for 24/7 critical decision making in life saving activates.

Atlas’s flagship system, the Atlas Pro, is typically configured to include 1-3 drones which may be flown together in synchronization or independently to execute several missions in tandem. Atlas’s mesh network technology allows for efficient communication between drones, including autonomous mission optimization, relay of communication and video and other sensor data as well as autonomously “hot swap” drone positions during battery changes enabling continuous communication transmission during a mission.

The Atlas Pro can be easily carried and deployed from a mid-size backpack or configured to work autonomously with its NEST docking station; a docking station that enables automated take-off, landing, battery swap and autonomous mission execution.

Atlas’s customers range from search and rescue units, law enforcement agencies, first responders, HLS, and militaries in NATO countries, to commercial customers for perimeter security and inspection.

Ownership: Private



5 Rothschild Blvd.Tel Aviv, Israel

www.atlasdynamics.eu

Atlas Dynamics Ltd.

COMPANY PRESENTERS


Source: Company



Sector: Anti-counterfeiting, Brand Protection, Information Services

As the authority in authentication solutions, Authentix helps you thrive in supply and distribution chain complexity. We provide

advanced authentication solutions for governments, central banks and commercial products, ensuring local economies grow,

banknote security remains intact and commercial products have robust market opportunities.

Specifically, we offer the following services and solutions:

• Governments: Authentix works with governments to ensure authentic products are sold in-country to benefit law

abiding citizens – not criminals. Fuel authentication and tax stamp solutions enable governments to collect more excise

taxes without raising taxes for the benefit of citizens and legitimate industries.

• Central Banks: Authentix develops and implements advanced, Level 3 authentication technologies and high-speed

sensors. These solutions safeguard banknote security and support quality initiatives, providing central banks greater

flexibility to maximize control and increase efficiencies in their operations.

• Commercial Products: Authentix’s advanced solutions protect manufacturers in the oil and gas, pharmaceutical,

agrochemical and consumer product industries. These solutions mitigate risks to promote revenue growth and gain

competitive advantage, protecting both the brand and product in complex supply and distribution chains.

Ownership: Private Equity (Blue Water Energy)



4355 Excel Parkway, Suite 100Addison, TX 75001

(469) 737-4400www.authentix.com

Authentix, Inc.

COMPANY PRESENTERS


Avante Logixx Inc. (TSX.V: XX)11/26/2019

1959 Leslie St.Toronto, ON M3B 2M3www.avantelogixx.com

Avante Logixx Inc. (TSX.V: XX) 1959 Leslie St.11/26/2019 Toronto, ON M3B 2M3

www.avantelogixx.com

Market Information as of 11/26/2019 Cap Structure (mm) 9/30/2019 Historical Financials ($mm exc per share data)Ticker XX FD Shares (Wt Avg) (1) 21.2 2016 2017 2018 2019 LTM YTD 19 YTD 20Latest Close Price $1.04 Market Cap $22.0 Sales $11.2 $16.1 $18.0 $24.7 $33.8 $8.8 $17.952 Week Hi - Low $1.66 - $0.78 Total Debt $3.7 Gross Profit 4.1 5.3 6.4 7.4 10.0 2.8 5.4LTM Stock Performance -37.5% Cash $0.5 SG&A 2.8 4.0 4.4 8.1 10.3 2.7 4.9Float (Shares in mm) 10.6 Preferred - Adj. EBITDA 1.3 1.6 2.1 (0.2) 0.1 0.4 0.6Short Interest (as % of Float) 0.0% Minority Interest $0.3 EBIT 0.8 1.0 1.4 (1.0) (1.2) (0.0) (0.1)Avg. Day Vol - 3 mos (000s) 40.3 Enterprise Value $25.6 Net Income 0.0 0.2 0.2 (1.6) (1.8) (0.4) (0.6)Dividend/sh (latest annualized) - Book Value of Equity $12.6Dividend yield 0.00% Tangible Book Value $1.6 CFO $0.6 $1.5 $1.9 ($2.2) ($1.7) ($1.0) ($0.4)

Capex (0.3) (0.5) (0.3) (1.1) (1.2) (0.1) (0.2)Liquidity (mm) 9/30/2019 FCF 0.3 1.0 1.7 (3.3) (2.9) (1.1) (0.7)Available $7.4 FCF/Share 0.01 0.05 0.08 (0.16) (0.14) (0.05) (0.03)Liquidity (Available + Cash) 7.9 Source: Historical Financials from Capital IQ and Company SEC Filings.

(1) As of 9/30/2019. Note: All CAD amounts converted to USD as of 10/28/19 exhange rate.

Company Info Balance Sheet Metrics 9/30/2019 Performance RatiosSector Electronic Equipment and Instruments Days Sales Out 68 2016 2017 2018 2019 LTM YTD 19 YTD 20Last Reported Qtr 9/30/2019 Days Inv On Hand 23 YoY Rev Grth 45.4% 43.3% 11.7% 37.5% 84.3% 4.4% 103.5%Currency CAD Days Payable Out 57 Gross Margin 36.4% 32.7% 35.5% 29.8% 29.6% 31.5% 30.1%Employees 649 Net Work Cap % of Rev 5.5% SG&A / Sales 25.1% 25.0% 24.5% 32.9% 30.4% 31.2% 27.4%Website www.avantelogixx.com Net Fixed Assets % Rev 7.7% EBITDA Margin 11.5% 10.1% 11.5% NM 0.3% 4.3% 3.6%Telephone 416-923-6984 Cash / Share $0.02 EBIT Margin 7.5% 6.4% 7.6% NM NM NM NMNext Earnings Date TBA Book Value / Share $0.60 Net Margin 0.2% 1.2% 1.2% NM NM NM NM

TBV / Share $0.08 ROIC % 147.4% 70.6% 163.2% NM -26.4% -0.4% -3.1%


Interest As of Scheduled Maturities (from latest annual and interim report) Long-Term LeaseCapitalization Table ($mm) Coupon Expense Maturity 9/30/2019 ($mm) Debt(1) Oblg. (1)

Cash $0.5 Up to 3 months $0.1 $0.1Revolving Demand Facility Prime + 85bps - Nov-23 - 3 to 12 months 0.4 0.4Acquisition Line 4.900% 0.09 Nov-23 1.9 1 to 2 years 0.6 0.3Mortgage Facility 4.680% 0.01 Jan-20 0.3 2 to 5 years 1.1 0.4Auto Loan Facility Varies 0.01 Jul-24 0.1 Over 5 years 0.2 0.1Property Leases (1) 4.800% 0.03 Aug-26 0.7 Total $2.4 $1.4Vehicle Leases (1) 6.370% 0.05 Aug-23 0.8Total Debt $3.7Net Debt 3.2Preferred Equity - Minority Interest 0.3Shareholders' Equity (Book) 12.6Total Capital $16.7

Source: Capital IQ and Company SEC Filings.(1) Leases have not been restated to follow IFRS 16 on the consolidated statements in the most current filing. (1) As of 9/30/2019.



Avante Logixx Inc. (TSXV: XX) is a Toronto based provider of high-end security services. We acquire, manage, and build industry-leading businesses that provide specialized, mission-critical solutions that address theneeds of our customers. Our businesses continuously develop innovative solutions that enable our customers to achieve their objectives. With an experienced team and a proven track record of solid growth, we are taking steps to establish a broad portfolio of security businesses to provide our customers and shareholders with exceptional returns. Please visit our website at www.avantelogixx.com and consider joining our investor email list.

Notes:- On November 15, 2019, Avante Logixx announced that it has secured financing from Fairfax Financial Holdings Ltd. in the form of unsecured convertible debentures. The Company will use the proceeds to finance theacquisition of ASAP Secured, Inc.

- On July 9, 2019, Avante Logixx announced that it has entered into an exclusive distribution agreement with 3SI Security Systems for residential security system applications in Canada. Under the agreement, Avante willoffer 3SI's advanced asset protection and recovery technology to its residential clients looking to safeguard high-end assets. This agreement gives Avante exclusive rights to 3SI's product line within the Canadianresidential market.

COMPANY PRESENTERS


Sector: Security Systems & Monitoring

Becklar, LLC, headquartered in Ogden, Utah, is the holding company for AvantGuard and Freeus.

As one of the industry’s premier wholesale monitoring companies, AvantGuard has pioneered innovative solutions in central

station redundancy with real-time disaster recovery as well as innovative monitoring solutions in IoT, medical alert systems,

and traditional security and fire alarm monitoring. The founder, Josh Garner, grew up in the alarm industry working for his

family’s legacy business, Mountain Alarm. He founded AvantGuard under the Mountain Alarm umbrella in 2002, later buying

it as a stand-alone entity in 2008. With fully redundant monitoring centers in Ogden, Utah and Rexburg, Idaho, AvantGuard

provides monitoring services for 700,000 subscribers throughout the country.

In 2015, Garner purchased Freeus, a small mobile PERS company with only 35,000 connected devices at the time. Four years

later, Freeus is a leading manufacturer of premium mobile medical alert devices and has over 350,000 active devices throughout

the country. Today Freeus is leading the way with innovative location tracking capabilities, and LTE capable devices on both

Verizon and AT&T networks.

On January 1, 2018 Garner established Becklar, LLC as the holding company for his two operating businesses, AvantGuard

and Freeus. At that time, he invited management from both operating companies to invest at the holding company level, and

thereby share in the ownership of the enterprise.

The Becklar companies operate on six core values espoused in the phrase, “We Care F.I.R.S.T.” with “FIRST” being an acronym

for: Fun, Innovation, Relationships, Service and Trust. The “We Care F.I.R.S.T.” value statement promotes help, love and service

to its dealers, subscribers and employees. AvantGuard and Freeus believe employees are the cornerstone of their businesses,

and the reason the companies have experienced significant growth over the years and continue to emerge as some of the

most sophisticated and advanced companies in their respective industry segments.

As the security, PERS, and IoT industries continue to progress and evolve, AvantGuard and Freeus are poised to continue

leading in service and innovation.

Ownership: Private

Number of Employees: N/A


4699 Harrison Blvd.Ogden, Utah

www.agmonitoring.comwww.freeus.com/

Becklar, LLC (Avantguard and Freeus, LLC)

Source: Company



COMPANY PRESENTERS


Source: Company



Sector: Enterprise Software/SaaS

BioConnect is enabling trust in a connected world. BioConnect provides an enterprise biometric authentication & security

platform to establish stronger trust in verifying a person’s identity across physical, IOT and digital applications. The result is

exact identity assurance, advanced cybersecurity and protection of the most valuable company assets; their people, data and

IP. The Company’s robust platform curates biometric sensory information (face, voice, finger, other), behavior, and contextual

information to provide the most accurate verification. By broadening the universe of authentication options, BioConnect

provides a level of trust that does not yet exist in the market today. The company is based in Toronto, Canada and is passionately

powered by the brightest and most innovative minds. With over 1600 Customers, 50+ partnerships and 60 BioConnectors, we

are quickly growing and scaling towards the future.

Ownership: Private


Annual Revenues: $15+M

109 Atlantic Avenue, Suite 202 Toronto, ON, M6K1X4

1 (855) 368-3743www.bioconnect.com

BioConnect

COMPANY PRESENTERS


BIO-key International (BKYI)11/6/2019

Building A Ste. E 3349 Highway 138Wall, NJ, 07719

www.bio-key.com

BIO-key International (BKYI) Building A Ste. E 3349 Highway 13811/6/2019 Wall, NJ, 07719

www.bio-key.com

Market Information as of 11/6/2019 Cap Structure (mm) 6/30/2019 Historical Financials ($mm exc per share data)Ticker BKYI FD Shares (Wt Avg) (1) 14.0 2015 2016 2017 2018 LTM YTD 18 YTD 19Latest Close Price $0.51 Market Cap $7.2 Sales $5.3 $3.0 $6.3 $4.0 $3.7 $1.6 $1.352 Week Hi - Low $1.62 - $0.51 Total Debt $0.5 Gross Profit 4.0 2.2 3.1 (0.1) 0.5 (0.6) (0.0)LTM Stock Performance -59.7% Cash $0.7 SG&A 4.1 4.4 5.7 5.3 5.2 2.5 2.4Float (Shares in mm) 6.8 Preferred - EBITDA (1.6) (4.1) (4.2) (6.8) (6.0) (3.8) (3.1)Short Interest (as % of Float) 0.0% Minority Interest $0.0 EBIT (1.7) (4.2) (4.3) (6.9) (6.1) (3.8) (3.1)Avg. Day Vol - 3 mos (000s) 25.5 Enterprise Value $7.0 Net Income (1.9) (4.2) (4.3) (6.9) (6.3) (3.8) (3.2)Dividend/sh (latest annualized) - Book Value of Equity $8.1Dividend yield 0.00% Tangible Book Value $7.9 CFO ($15.6) ($4.4) ($2.5) ($1.6) ($2.0) $0.1 ($0.3)

Capex (0.0) (0.1) (0.2) (0.1) (0.0) (0.1) (0.0)Liquidity (mm) 6/30/2019 FCF (15.6) (4.5) (2.6) (1.7) (2.0) 0.0 (0.3)Available $0.7 FCF/Share (1.11) (0.32) (0.19) (0.12) (0.14) 0.00 (0.02)Liquidity (Available + Cash) 0.7(1)As of 6/30/2019. Source: Historical Financials from Capital IQ and Company SEC Filings.

Company Info Balance Sheet Metrics 6/30/2019 Performance RatiosSector Systems Software Days Sales Out 66 2015 2016 2017 2018 LTM YTD 18 YTD 19Last Reported Qtr 6/30/2019 Days Inv On Hand 109 YoY Rev Grth 31.3% -43.4% 111.8% -35.8% -33.2% -31.0% -19.5%Currency USD Days Payable Out 66 Gross Margin 75.7% 75.5% 48.6% NM 13.3% NM NMEmployees 18 Net Work Cap % of Rev 29.8% SG&A / Sales 78.3% 149.2% 90.1% 131.9% 140.1% 159.7% 190.3%Website www.bio-key.com Net Fixed Assets % Rev 17.9% EBITDA Margin NM NM NM NM NM NM NMTelephone 732-359-1100 Cash / Share $0.05 EBIT Margin NM NM NM NM NM NM NMNext Earnings Date 11/12/2019 Book Value / Share $0.57 Net Margin NM NM NM NM NM NM NM

TBV / Share $0.56 ROIC % NM NM NM NM NM NM NM


Interest As of Scheduled Maturities (from Latest 10Q) ConvertibleCapitalization Table (in mm) Coupon Expense Maturity 6/30/2019 (in mm) Notes (1)

Cash $0.7 2019 $0.7Total Debt (1) $0.5 2020 - Net Debt NM 2021 - Preferred Equity - 2022 - Minority Interest 0.0 2023 - Shareholders' Equity (Book) 8.1 Thereafter - Total Capital $8.6 Total $0.7

Source: Capital IQ and Company SEC Filings.(1) Convertible notes payable, net of discounts and issuance costs. (1) Two convertible notes for $550k and $157k maturing on November 14th and 15th, respectively.

This summary is for informational purposes only. Under no circumstances is it to be used or considered as an offer to sell, or a solicitation of an offer to buy any security. While the information contained in this summary has been obtained from sources believed to be reliable, we do not represent orguarantee that the summary is accurate or complete, and it should not be relied upon as such. Based on information available to us, prices in this summary are as of the date hereof. The securities mentioned in this summary involve substantial risk and should generally be purchased only by investorsable to accept such risk.

While this summary is in circulation, Imperial Capital, LLC ("IC") or its affiliates may, from time to time, make purchases or sales for their own accounts of securities of any entity. IC’s market making may constitute, in the case of equity securities and certain debt securities, standing ready to makepurchases or sales of securities on a regular or continuous basis or quoting markets in debt securities. Notwithstanding IC’s market making activities as of the date hereof, while this summary is in circulation IC may begin or discontinue such market making activity for any entity. IC is a member ofFINRA (www.finra.org) and SIPC (www.SIPC.org).

BIO-key International, Inc. ("BIO-key" or "the Company"), develops and markets fingerprint biometric identification and identity verification technologies, and related identity management and credentialing biometric hardwareand software solutions. Its solutions enable application developers, value added resellers, and channel partners to integrate fingerprint biometrics into their applications. It offers ID Director, a solution for integration with CATechnologies / Broadcom’s Single Sign-on solution, Oracle’s Fusion Middleware SSO, IBM Tivoli Access Manager, as well as ISAM and other solutions. The Company also provides Vector Segment Technology SDK, abiometric software development kit that provides developers the ability to incorporate its biometric capabilities into their respective product offerings or infrastructure; Intelligent Image Indexing, a biometric identification solutionthat offers one-to-many and one-to-one user identification; and Biometric Service Provider, which provides support for the BioAPI for a compliant interface to applications using biometrics for verification and identification. BIO-key was founded in 1993, and is headquarted in Wall, New Jersey.

Notes:- On October 16th, 2019, BIO-key announced a newly established reseller partnership with Applied Technologies in order to provide a biometric authentication solution to a large, consumer facing service provider that isseeking to enhance its network security by reducing its reliance on passwords. - On October 1, 2019, BIO-key announced two additional County Election Boards in Florida have adopted the Company's solutions to enhance the security of their identification and authentication regarding the voting process.- On September 23, 2019, BIO-key announced that the Company has launched a Channel Alliance Partner (CAP) program. The program will enable partners to represent BIO-key's complete line of biometric authenticationsolutions. This will help increase the Company's sales reach, says Chief Revenue Officer Fred Corsentino.

COMPANY PRESENTERS


Source: Company



Sector: Aviation

Since its inception 19 years ago, Bradford has singularly carved-out and pioneered the Centralized Receiving and Distribution

Center (CRDC) market niche (both U.S. and globally) to become the industry leader. Bradford operates the largest, most

complex, and also the highest security CRDC in the world (London Heathrow – all terminals). The Company has won 96% of its

competitive RFP’s. The Company’s “operational excellence” and “fanatical customers” have resulted in a 100% track record of

renewing all contracts. The Company has received two prestigious awards at Heathrow Airport – Employer of the Year (2017)

and Supplier of the Year (2016). The Company has become synonymously known to “Help Airports Run Great!”

The primary industry differentiator for Bradford is its amazing in-house developed technology and management information

system, Airport Material Intelligence System - AMIS™ (now in version 9.5). The AMIS™ infrastructure enables minute-by-

minute quality control overseeing all operational aspects for ultimate command and control, operational excellence, and

failure prevention. The AMIS™ solution has been touted by airport peer groups and industry consultants as a “best practice,”

due to its unparalleled features.

All terminal bound material is diverted to a highly secure CRDC facility. Material arrives preconfigured to receive goods into

an efficient, automated system. Material is received, screened, and put away for consolidated and synchronized distribution

to the end-user.

Bradford’s deep-rooted experience and leadership have afforded the organization an opportunity to develop 60+ proprietary

security processes in collaboration with the Department of Homeland Security, UK Department for Transport, and law

enforcement agencies. These security processes far exceed present-day requirements and set a platform for the development

and advancement of ongoing and future standards.

Bradford has conducted 51 logistics consulting studies (small-to-mega airports), pioneered 39 “industry firsts,” and has been

featured in 16 industry publications. The Company sits on industry committees and participates in think tanks as an expert.

Bradford was even nominated for an award at the Harvard School of Business for government innovation.

Bradford’s longstanding, unwavering commitment to the airports community as a strategic solution provider and an innovative

partner can be seen daily. Thanks to the Company’s technology, innovation, and expertise, there is now an integrated airport

logistics solution enabling tight security, streamlined operations, productivity efficiencies, revenue generation opportunities,

improved traveler experiences, and leading sustainability initiatives.

Ownership: Privately Held by Founder & CEO


Annual Revenues: $30 million

720 North Post Oak Road, STE 450 Houston, TX 77024

(713) 869-9000www.airportlogistics.org

Bradford Airport Logistics, Ltd.

COMPANY PRESENTERS


Brink’s Company (BCO)11/12/2019

1801 Bayberry Court PO Box 18100Richmond, VA, 23226

www.brinks.comBrink's Company (BCO) 1801 Bayberry Court PO Box 1810011/12/2019 Richmond, VA, 23226

www.brinks.com

Market Information as of 11/12/2019 Cap Structure (mm) 9/30/2019 Historical Financials ($mm exc per share data)Ticker BCO FD Shares (Wt Avg)(1) 51.0 2015 2016 2017 2018 LTM YTD 18 YTD 19Latest Close Price $88.93 Market Cap $4,535.4 Sales $3,061.4 $3,020.6 $3,347.0 $3,488.9 $3,655.1 $2,581.2 $2,747.452 Week Hi - Low $93.81 - $59.08 Total Debt $1,749.9 Gross Profit 617.7 628.9 738.8 785.6 839.2 568.2 621.8LTM Stock Performance 32.3% Cash $337.0 SG&A 491.7 464.6 513.4 509.2 592.1 368.4 451.3Float (Shares in mm) 49.3 Preferred - Adj. EBITDA 291.4 332.6 425.0 511.7 558.6 363.7 410.6Short Interest (as % of Float) 3.4% Minority Interest $16.0 EBIT 129.7 168.5 206.6 103.4 208.1 32.6 137.3Avg. Day Vol - 3 mos (000s) 373.4 Enterprise Value $5,964.3 Net Income (11.9) 34.5 16.7 (33.3) 66.5 (68.2) 31.6Dividend/sh (latest annualized) 0.6 Book Value of Equity $185.2Dividend yield 0.67% Tangible Book Value ($864.0) CFO $195.9 $190.3 $296.4 $364.1 $367.3 $148.6 $151.8

Capex (101.1) (112.2) (174.5) (155.1) (167.1) (104.0) (116.0)Liquidity (mm) 9/30/2019 FCF 94.8 78.1 121.9 209.0 200.2 44.6 35.8Available $782.1 FCF/Share 1.86 1.53 2.39 4.10 3.93 0.87 0.70Liquidity (Available + Cash) 1,119.1(1) As of 9/30/19. Source: Historical Financials from Capital IQ and Company SEC Filings.

Company Info Balance Sheet Metrics 9/30/2019 Performance RatiosSector Security and Surveillance Equipment Days Sales Out 64 2015 2016 2017 2018 LTM YTD 18 YTD 19Last Reported Qtr 9/30/2019 Days Inv On Hand - YoY Rev Grth -14.1% -1.3% 10.8% 4.2% 4.9% 5.6% 6.4%Currency USD Days Payable Out 21 Gross Margin 20.2% 20.8% 22.1% 22.5% 23.0% 22.0% 22.6%Employees 60,900 Net Work Cap % of Rev 4.8% SG&A / Sales 16.1% 15.4% 15.3% 14.6% 16.2% 14.3% 16.4%Website www.brinks.com Net Fixed Assets % Rev 27.0% EBITDA Margin 9.5% 11.0% 12.7% 14.7% 15.3% 14.1% 14.9%Telephone 804-289-9600 Cash / Share $6.61 EBIT Margin 4.2% 5.6% 6.2% 3.0% 5.7% 1.3% 5.0%Next Earnings Date TBA Book Value / Share $3.63 Net Margin NM 1.1% 0.5% NM 1.8% NM 1.2%

TBV / Share ($16.94) ROIC % 22.5% 26.6% 26.6% 13.0% 17.9% 3.8% 11.8%


Interest As of Scheduled Maturities (from Latest 10K) FinancingCapitalization Table ($mm) Coupon Expense Maturity 9/30/2019 ($mm) Debt Leases Other (1)

Other Obligations

Cash (1) $247.8 2019 $28.4 $25.1 $124.1Revolving Credit Facility L + Floating Rate 10.13 Feb-24 217.9 2020 26.3 23.5 93.4Term Loan A L + Floating Rate 29.15 Feb-24 776.9 2021 25.0 21.7 91.7Senior Unsecured Notes 4.625% 27.4 Oct-27 592.7 2022 733.7 19.7 103.4Financing Leases 139.7 2023 - 16.2 85.1Other Debt 22.7 Later Years 601.0 14.3 827.4Total Debt $1,749.9 Total (2) $1,414.4 $120.5 $1,325.1Net Debt 1,502.1Preferred Equity - Minority Interest 16.0Shareholders' Equity (Book) 185.2Total Capital $1,951.1

Source: Capital IQ and Company SEC Filings. (1) Includes interest on debt and capital leases, acquisition payments, pension plan, UMWA, black lung, and worker's comp.(1) Excludes restricted cash of 89.2 million. (2) Excludes operating leases and purchase obligations.



The Brink's Company ("Brink's" or the "Company"), provides secure transportation, cash management services, and other security-related services worldwide. The Company offers cash-in-transit services, includingarmored vehicle transportation of valuables; automated teller machine ("ATM") services, such as cash replenishment, cash optimization, ATM remote monitoring, service call dispatching, transaction processing,installation services, and first and second line maintenance. It also provides transportation services for valued commodities, including diamonds, jewelry, precious metals, securities, currency, high-tech devices,electronics, and pharmaceuticals.The Company was formerly known as The Pittston Company and changed its name to The Brink's Company in May 2003.

Notes:- On August 12th, 2019, The Brink's Company announced that its Board of Directors have appointed Kathie Andrade as an independent director, effective immediately. Ms. Andrade was formerly the CEO of TIAA's retailfinancial services business unit. - On January 7th, 2019, The Brink's Company announced that it has completed the acquisition of Brazil's Rodoban for approximately $130mm in cash. Doug Pertz, CEO, stated that the acquisition will expand the servicereach of current operations and increase route density.

COMPANY PRESENTERS


Brinks Home SecurityTM (SCTY)11/6/2019

11990 Wittington PlaceFarmers Branch, TX 75234

brinkshome.com

Brink's Home Security ™ (SCTY) 1990 Wittington Place11/6/2019 Farmers Branch, TX 75234

brinkshome.com

Market Information as of 11/6/2019 Cap Structure ($mm) 6/30/2019 Historical Financials ($mm exc per share data)Ticker SCTY FD Shares (Wt Avg) (1) 22.5 2015 2016 2017 2018 LTM YTD 18 YTD 19Latest Close Price $7.70 Market Cap $173.3 Sales $563.4 $570.4 $553.5 $540.4 $529.3 $268.8 $257.752 Week Hi - Low $16.49 - $7.00 Total Debt $1,838.9 Gross Profit 453.2 455.2 434.3 411.5 411.1 203.0 202.6LTM Stock Performance N/A Cash $11.4 SG&A 106.3 114.2 155.9 118.9 113.6 64.7 59.4Float (Shares in mm) 0.0 Preferred - Adj. EBITDA 354.8 344.8 313.6 289.4 289.2 142.2 142.0Short Interest (as % of Float) 0.0% Minority Interest $0.0 EBIT 67.7 67.7 60.3 56.9 70.4 23.6 37.1Avg. Day Vol - 3 mos (000s) - Enterprise Value $2,000.7 Net Income (72.4) (76.3) (111.3) (678.8) (496.7) (268.0) (86.0)Dividend/sh (latest annualized) - Book Value of Equity ($678.9)Dividend yield 0.00% Tangible Book Value ($1,840.3) CFO $209.2 $190.5 $150.2 $104.5 $137.4 $67.5 $100.4

Capex (12.4) (9.2) (14.4) (14.9) (12.7) (8.9) (6.8)Liquidity ($mm) 6/30/2019 FCF 196.7 181.3 135.8 89.6 124.6 58.6 93.6Available $1.0 FCF/Share 8.74 8.06 6.04 3.98 5.54 2.60 4.16Liquidity (Available + Cash) 12.4

(1) As of 6/30/2019. Source: Historical Financials from Capital IQ and Company SEC Filings.

Company Info Balance Sheet Metrics 6/30/2019 Performance RatiosSector Security and Alarm Services Days Sales Out 17 2015 2016 2017 2018 LTM YTD 18 YTD 19Last Reported Qtr 6/30/2019 Days Inv On Hand - YoY Rev Grth 4.4% 1.2% -3.0% -2.4% -2.1% -4.6% -4.1%Currency USD Days Payable Out 36 Gross Margin 80.4% 79.8% 78.5% 76.1% 77.7% 75.5% 78.6%Employees 1,210 Net Work Cap % of Rev -12.2% SG&A / Sales 18.9% 20.0% 28.2% 22.0% 21.5% 24.1% 23.1%Website brinkshome.com Net Fixed Assets % Rev 10.7% EBITDA Margin 63.0% 60.5% 56.7% 53.6% 54.6% 52.9% 55.1%Telephone 972-243-7443 Cash / Share $0.51 EBIT Margin 12.0% 11.9% 10.9% 10.5% 13.3% 8.8% 14.4%Next Earnings Date 11/8/2019 Book Value / Share ($30.17) Net Margin NM NM NM NM NM NM NM

TBV / Share ($81.79) ROIC % NM NM NM 554.1% NM NM NM


Interest As of Scheduled Maturities (from Latest 10Q) OperatingCapitalization Table ($mm) Coupon Expense Maturity 6/30/2019 ($mm) Debt Leases (1)

Cash (1) $11.4 2019 $1,838.9 $1.7Revolving Credit Facility L + 400 13.6 Sep-21 181.4 2020 - 3.9 Senior Note 9.125% 53.2 Apr-20 585.0 2021 - 3.2 Term Loan L + 550 92.2 Sep-22 1,072.5 2022 - 3.1 Total Debt $1,838.9 2023 - 3.1 Net Debt 1,827.5 2024 - - Preferred Equity - Thereafter - 20.3 Minority Interest 0.0 Total $1,838.9 $35.3Shareholders' Equity (Book) (678.9)Total Capital $1,160.0

Source: Capital IQ and Company SEC Filings.(1) Excludes restricted cash of $93k. (1) Does not account for imputed interest.



Monitronics International, Inc., (the "Company") doing business as Brinks Home Security, provides security alarm monitoring and related services to residential and commercial customers in the United States, Canada, andPuerto Rico. It provides monitoring services for alarm signals arising from burglaries, fires, medical alerts, and other events through security systems at subscribers' premises. The Company also offers home automationservices, such as remote activation and control of security systems; support for video monitoring, flood sensors, and automated garage door and door lock capabilities. The Company was founded in 1994 and is based inFarmers Branch, Texas.

Notes:- On November 5, 2019, Brink's Home Security announced that it has been awarded the JD Power #1 in Customer Satisfaction with Pro-Installed Home Security Systems title for the second year in a row. The award isbased on a 5,000 person survey, covering topics such as price, quality, billing & payment, and installation.

- On August 8, 2019, Brink's Home Security announced that its plan for reorganization under Chaper 11 has been confirmed. The plan eliminated nearly $885 million of debt, allowing the Company access to new sourcesof capital that will support continued growth and innovation.

COMPANY PRESENTERS


Source: Company



Sector: Cloud Access Control

Summary. Brivo is the global leader in cloud-based security and property management solutions for commercial and

multifamily properties that simplify security interactions for property managers, tenants, employees, and visitors. With over

15 million users and 1,000 authorized dealers, our Software-as-a-Service (SaaS) platform has been unifying the security

experience across access control, mobile credentials, video surveillance, identity federation, visitor management, intercoms,

and elevator control since 2002. Hundreds of software partners and end users use our APIs and SDKs to extend our solutions

to unique vertical market offerings. More than ten years of SOC audits underscore our commitment to protecting customer

privacy and data security. Brivo is privately held and headquartered in Bethesda, Maryland.

Products. Brivo, with its flagship product Brivo Onair, provides a comprehensive cloud-based security management system,

including access control, video surveillance, visitor management, smart locks, digital intercoms, digital elevator connectivity,

sensors, and numerous additional third-party integrations. The Brivo Mobile Pass app for iOS and Android provides built-

in mobile credentials that allow users to open doors with their smartphones. The Brivo Onair Identity Connector provides

enterprise-grade identity federation through major cloud identity providers such as Okta and Microsoft Azure Active Directory.

Business Model. Brivo sells its products and SaaS services through a global network of over 1,000 dealers and systems

integrators. Upon its launch in 2002, the company’s cloud-based access control service was the first of its kind to provide

resellers with an opportunity to deliver a SaaS solution with a recurring revenue model. Brivo’s dealer network has found

strong customer adoption across numerous industries, with the largest total volume of doors among larger, highly distributed

organizations with multiple business locations. Major vertical markets include: property management, commercial offices,

multifamily, retail, education, manufacturing, distribution, and health & wellness.

Corporate. With offices in Bethesda and Amsterdam, Brivo was founded in 1999 and acquired by Dean Drako in 2015. The

company also entered into an agreement with Drako’s Eagle Eye Networks to integrate Brivo’s Onair cloud-based access

control system with Eagle Eye Networks’ cloud-based security camera video management system. This integration gives

customers a seamless cloud-based solution for video surveillance and access control systems.

For more information about Brivo, please visit: www.brivo.com.

Ownership: Private



7700 Old Georgetown Rd, Suite 300Bethesda, MD 20814

(301) 664-5242www.brivo.com

Brivo

COMPANY PRESENTERS


Source: Company



Sector: Public Safety

Carbyne is a global leader in public safety technology. Our call-handling and incident management solutions deliver rich,

actionable data from any connected device to Emergency Communications Centers (ECCs), providing call-takers with device-

based location for more calls than any other solution in the marketplace, live video streaming, chat capabilities and more.

At Carbyne, we are building for the dramatically different Next Generation 9-1-1 AE (Automation Enhanced) that is coming. An

environment with greater situational awareness, AI-driven response capabilities, and tight interconnection with the Internet

of Things. We hold multiple patents and partner with world-class technology partners such as Google, Cisco, and AWS to bring

our vision to life.

With over 60 clients around the world, 2.6MM calls handled per month, and over 150MM citizens made safer by Carbyne’s

technology, Carbyne is delivering the future of 9-1-1. Today.

Ownership: Private



276 5th Avenue, Suite 402New York, NY 10001

(212) 380-1159 carbyne911.com

Carbyne

COMPANY PRESENTERS


Source: Company



Sector: Cyber Security, AI Based Solutions

Cobwebs Technologies is a worldwide leader in web intelligence. Our innovative solutions are tailored to operational needs

of law enforcement agencies, national security agencies and the private sector, identifying threats with just one click. The

increasing use of social media platforms, mobile apps and dark web sources have led to significant growth of illegal activities

on the internet. These platforms are used by criminals, terrorists, hackers and others exploiting easy access to the internet to

conduct operations with minimal visibility.

Cobwebs’ solutions were designed by our intelligence and security experts as vital tools for the collection and analysis of data

from open source web, social media, blogs, deep and dark web. Our web intelligence platform monitors these vast sources of

data to reveal hidden leads and generate insights. They covertly uncover and interact with the internet’s never-ending trail of

clues to build suspect profiles, reconstruct social circles, identify cyber threats, engage targets, and generate evidence.

Our exclusive technology extracts targeted intelligence from the web big data using the latest machine learning algorithms,

automatically generating intelligent insights. The company focuses its research and development in Artificial Intelligence

technologies which are harnessed to extract the relevant intelligence from big data using vast array of automated procedures.

The company maintains strong collaboration with government entities, top enterprises and security and intelligence providers.

We ensure a strong customer service and provide a combination of technology along with professional trainings where we

impart methodology and real operational experience.

Challenges We Solve

Crime investigation, Cyber-Crime, Drugs & Human Trafficking, Counter-Terrorism, Situational Awareness,

Cyber Threat Intelligence, Asset Protection, Anti-Money Laundering, Fraud Investigation and Risk Assessment.

Ownership: Private



1441 BroadwayNew York, NY 10018

(212) 201-9256www.cobwebs.com

Cobwebs Technologies

COMPANY PRESENTERS


One Comcast CenterPhiladelphia, Pennsylvania, 19103

corporate.comcast.com

Comcast’s Xfinity Home (CMCSA)11/14/2019

Comcast's Xfinity Home (CMCSA) One Comcast Center11/14/2019 Philadelphia, Pennsylvania, 19103

corporate.comcast.com

Market Information as of 11/14/2019 Cap Structure (mm) 9/30/2019 Historical Financials ($mm exc per share data)Ticker CMCS.A FD Shares (Wt Avg) (1) 4,549.3 2015 2016 2017 2018 LTM YTD 18 YTD 19Latest Close Price $45.25 Market Cap $205,855.8 Sales $74,510 $80,736 $85,029 $94,507 $108,390 $66,661 $80,54452 Week Hi - Low $47.27 - $32.61 Total Debt $108,701.0 Gross Profit 51,960 56,388 59,674 64,815 73,998 46,221 55,404LTM Stock Performance 18.0% Cash $3,507.0 SG&A 27,282 30,070 31,968 34,791 40,323 24,218 29,750Float (Shares in mm) 4,507.0 Preferred - EBITDA 24,678 26,318 27,706 30,024 33,675 22,003 25,654Short Interest (as % of Float) 1.7% Minority Interest $2,384.0 EBIT 15,998 16,892 17,576 19,007 20,702 14,183 15,878Avg. Day Vol - 3 mos (000s) 15,631.5 Enterprise Value $313,433.8 Net Income 8,163 8,678 22,735 11,731 12,406 9,220 9,895Dividend/sh (latest annualized) 0.8 Book Value of Equity $78,144.0Dividend yield 1.86% Tangible Book Value ($23,933.0) CFO $19,485 $19,691 $21,261 $24,297 $25,252 $18,507 $19,462

Capex (8,499) (9,157) (9,621) (10,234) (10,972) (6,864) (7,602)Liquidity (mm) 9/30/2019 FCF 10,986 10,534 11,640 14,063 14,280 11,643 11,860Available $9,200.0 FCF/Share 2.41 2.32 2.56 3.09 3.14 2.56 2.61Liquidity (Available + Cash) 12,707.0(1) As of 9/30/2019. Source: Historical Financials from Capital IQ and Company SEC Filings.

Company Info Balance Sheet Metrics 9/30/2019 Performance RatiosSector Cable and Satellite Days Sales Out 33 2015 2016 2017 2018 LTM YTD 18 YTD 19Last Reported Qtr 9/30/2019 Days Inv On Hand - YoY Rev Grth 8.3% 8.4% 5.3% 11.1% 22.1% 5.9% 20.8%Currency USD Days Payable Out 91 Gross Margin 69.7% 69.8% 70.2% 68.6% 68.3% 69.3% 68.8%Employees 184,000 Net Work Cap % of Rev -5.0% SG&A / Sales 36.6% 37.2% 37.6% 36.8% 37.2% 36.3% 36.9%Website corporate.comcast.com Net Fixed Assets % Rev 46.9% EBITDA Margin 33.1% 32.6% 32.6% 31.8% 31.1% 33.0% 31.9%Telephone 215-286-1700 Cash / Share $0.77 EBIT Margin 21.5% 20.9% 20.7% 20.1% 19.1% 21.3% 19.7%Next Earnings Date TBA Book Value / Share $17.18 Net Margin 11.0% 10.7% 26.7% 12.4% 11.4% 13.8% 12.3%

TBV / Share ($5.26) ROIC % 55.0% 53.6% 50.9% 48.4% 45.6% 39.4% 35.0%


Interest As of Scheduled Maturities (from Latest 10K and 10Q) OperatingCapitalization Table ($mm) Coupon Expense Maturity 9/30/2019 ($mm) Debt Leases (1)

Cash $3,507.0 2019 $4,413.0 $1,073.0Comcast Revolving Credit Facility L + 100 - May-22 - 2020 7,961.0 1,704.02021 Term Loan L + 87.5 92.4 Sep-21 3,210.0 2021 11,548.0 1,485.02023 Term Loan L + 100 137.49 Oct-23 4,580.0 2022 8,741.0 1,225.0Bonds (1) Varies 4,327.06 Varies 100,911.0 2023 $7,818.0 1,043.0Total Debt $108,701.0 Thereafter $72,964.0 $5,214.0Net Debt 105,194.0 Total $113,445.0 $11,744.0Preferred Equity - Minority Interest 2,384.0Shareholders' Equity (Book) 78,144.0Total Capital $189,229.0

Source: Bloomberg and Company SEC Filings.(1) Includes all outstanding bond issues and applies an average coupon of 4.288% for interest expense. (1) Includes operating leases associated with the Sky transaction.



Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks, and Skysegments. The Cable Communications segment offers cable services, including high-speed Internet, video, voice, and security and automation services to residential and business customers under the Xfinity name; andadvertising services. The Company also provides a wireless phone service under the Xinfity Mobile name. Comcast Corporation was founded in 1963 and is headquartered in Philadelphia, Pennsylvania.

Notes:- On October 15, 2019, Comcast announced an expansion of the Xfinity Mobile device portfolio with the launch of the Pixel 4 and Pixel 4 XL. The devices will go on sale in Xfinity stores and at XfinityMobile.com onOctober 24th.- On May 14, 2019, The Walt Disney Company and Comcast Corporation announced that Disney will assume full operational control of Hulu, in return for Disney and Comcast entering into a "put/call" agreementregarding NBCUniversal's 33% ownership in Hulu. Comcast can require Disney to buy NBCUniversal's interest in Hulu, and Disney can require NBCUniversal to sell that interest to Disney at fair market value.

COMPANY PRESENTERS


101 Wrangler Dr. Ste. 201Coppell, TX, 75019

www.costartechnologies.com

Costar Technologies, Inc. (CSTI)11/6/2019

Costar Technologies, Inc. (CSTI) 101 Wrangler Dr. Ste. 20111/6/2019 Coppell, TX, 75019

www.costartechnologies.com

Market Information as of 11/6/2019 Cap Structure (mm) 6/30/2019 Historical Financials ($mm exc per share data)Ticker CSTI FD Shares (Wt Avg) (1) 1.6 2015 2016 2017 2018 LTM YTD 18 YTD 19Latest Close Price $10.25 Market Cap $16.1 Sales $33.7 $38.6 $44.3 $58.9 $70.8 $22.9 $34.852 Week Hi - Low $11.10 - $6.50 Total Debt $23.3 Gross Profit 13.2 14.8 17.8 21.8 26.2 8.9 13.3LTM Stock Performance -1.0% Cash $0.001 SG&A 9.3 10.9 12.8 18.5 24.0 7.1 12.5Float (Shares in mm) 1.4 Preferred - EBITDA 1.6 2.0 3.7 0.9 (1.5) 1.1 (1.3)Short Interest (as % of Float) 0.0% Minority Interest $0.0 EBIT 1.1 1.5 2.3 (0.8) (3.3) 0.3 (2.1)Avg. Day Vol - 3 mos (000s) 0.6 Enterprise Value $39.4 Net Income 0.5 0.6 (0.4) (2.9) (4.9) (0.0) (2.1)Dividend/sh (latest annualized) - Book Value of Equity $17.6Dividend yield 0.00% Tangible Book Value $11.1 CFO $1.1 $2.2 $2.8 $1.5 ($1.1) ($1.8) ($4.4)

Capex (0.1) (0.5) (0.3) (0.3) (0.5) (0.1) (0.4)Liquidity (mm) 6/30/2019 FCF 0.9 1.6 2.5 1.2 (1.6) (1.9) (4.7)Available $0.9 FCF/Share 0.60 1.05 1.61 0.76 (1.02) (1.24) (3.02)Liquidity (Available + Cash) 0.9(1) As of 6/30/2019. Source: Historical Financials from Capital IQ and Company SEC Filings.

Company Info Balance Sheet Metrics 6/30/2019 Performance RatiosSector Electronic Equipment and Instruments Days Sales Out 52 2015 2016 2017 2018 LTM YTD 18 YTD 19Last Reported Qtr 6/30/2019 Days Inv On Hand 133 YoY Rev Grth -6.6% 14.5% 14.8% 33.1% 49.7% 15.4% 52.0%Currency USD Days Payable Out 37 Gross Margin 39.2% 38.4% 40.3% 36.9% 36.9% 39.0% 38.3%Employees 50 Net Work Cap % of Rev 29.6% SG&A / Sales 27.7% 28.3% 29.0% 31.4% 33.9% 30.8% 36.0%Website www.costartechnologies.com Net Fixed Assets % Rev 1.5% EBITDA Margin 4.8% 5.2% 8.4% 1.5% NM 4.9% NMTelephone 469-635-6800 Cash / Share $0.00 EBIT Margin 3.2% 3.8% 5.1% NM NM 1.4% NMNext Earnings Date TBA Book Value / Share $11.20 Net Margin 1.4% 1.6% NM NM NM NM NM

TBV / Share $7.05 ROIC % 10.3% 14.5% 19.4% -4.4% -14.9% 2.3% -9.7%


Interest As of Scheduled Maturities (from Latest 10K and 10Q) Long-Term OperatingCapitalization Table ($mm) Coupon Expense Maturity 6/30/2019 ($mm) Debt(1) Leases

Cash $0.0 2020 $0.8 $1.0Revolving Credit Facility 6.120% - Jul-21 17.1 2021 0.8 0.9Note Payable, related party 2.800% 0.01 Jan-20 0.4 2022 3.2 0.8Promissory Note 7.400% 0.07 Jun-20 1.0 2023 0.5Term Loan 6.120% 0.29 Jul-21 4.8 2024 0.2Total Debt $23.3 Thereafter 0.3 Net Debt 23.3 Total $4.8 $3.8Preferred Equity - Minority Interest 0.0Shareholders' Equity (Book) 17.6Total Capital $40.9

Source: Capital IQ and Company SEC Filings. (1) Debt scheduled maturities does not factor in unamortized debt discounts.



Costar Technologies, Inc., together with its subsidiaries, designs, develops, manufactures, and distributes a range of products for the video surveillance and machine vision markets in the United States. The Companyoperates through three segments: Costar Video Systems, CohuHD Costar, and Other. Its products include surveillance cameras, lenses, digital video recorders, and high speed domes, as well as industrial vision productsto observe production and assembly lines. The Company also provides IP video solutions for traffic monitoring, security, surveillance, and military applications; and accessories, such as cables, camera mounts, and datastorage devices. It provides its solutions for financial institutions, educational facilities, retail stores, manufacturing plants, highways, government buildings, military bases, borders, and other applications. The Companywas formerly known as Sielox, Inc. and changed its name to Costar Technologies, Inc. in October 2011. Costar Technologies, Inc. was founded in 1997 and is headquartered in Coppell, Texas.

Notes:- On March 4, 2019, Costar announced the opening of new corporate headquarters, manufacturing, and warehousing operations, plus the creation of an Advanced Technology Center (ATC).

- On Febraury 25, 2019, Costar announced that it had appointed two new directors to the Company's Board of Directors: Sally Washlow and Alan B. Howe. Ms. Washlow is the former CEO of Cedar ElectronicsCorporation, a supplier of radar detectors and GPS systems. Mr. Howe is the Managing Partner of Broadband Initiatives, LLC, a boutique corporate advisory and strategic consulting firm.

COMPANY PRESENTERS


Source: Company



20130 Lakeview Center Plaza, Suite 120Ashburn, VA 20147

(703) 936 4170www.cyfir.com

Sector: Cyber Security

CyFIR LLC is a premier provider of remote, scalable incident response and digital forensic investigation software platforms

and services. In an industry disrupting move, CyFIR is the first and only company of its kind to offer its platform on either a

perpetual licensing, monthly subscription, and “power by the hour” basis, making large scale digital forensic investigations

and services affordable to large and small businesses alike. CyFIR gives organizations the power to minimize business risk and

operational cost by investigating and triaging thousands of endpoints on demand—in minutes rather than months. CyFIR

Cyber Risk Solutions save time, money and resources with unmatched time to resolution and network endpoint visibility

through CyFIR Investigator By-the-Hour, CyFIR Enterprise Platform, CyFIR Instant Response™, and CyFIR Fast Forensics™. CyFIR

takes a unique approach by being able to search computing resources enterprise wide and immediately drill down into a live

system forensically, thus changing the way we investigate by thinking forensics first. Operating on two main principles—see

more to know more and respond instantly—CyFIR was founded by Ben Cotton in 2018.

Ownership: Private



CyFIR LLC

COMPANY PRESENTERS


Source: Company



Sector: Video Surveillance

Founded in 2012, Eagle Eye Networks is the leading global provider of cloud-based video surveillance solutions addressing the

needs of businesses, alarm companies, security integrators, and individuals. Eagle Eye’s 100 percent cloud-managed solutions

provides cloud and on-premise recording, bank level security and encryption, and broad analog and digital camera support

– all accessed via the web or mobile applications. Eagle Eye offers solutions for businesses of all types and sizes regarding

operational optimization and security. All Eagle Eye products benefit from Eagle Eye’s developer friendly RESTful API platform

and Big Data Video FrameworkTM, which allow for indexing, search, retrieval, and analysis of live and archived video. Eagle Eye’s

open Video API has been widely adopted for integration in alarm monitoring, third party analytics, security dashboards, and

point of sale system integrations.

Eagle Eye Networks sells its products through authorized global resellers and installation partners. Eagle Eye is headquartered

in Austin, TX, USA and has offices in Europe and Asia. For more information, please visit www.een.com or call +1-512-473-0500,

+81-3- 6866-2926, or +31 20 26 10 460.

Ownership: Private



4611 Bee Caves Road, #200Austin, TX 78746

(512) 473-0500www.EagleEyeNetworks.com

Eagle Eye Networks

COMPANY PRESENTERS


Source: Company



Sector: Application Software

Since its inception in 2016, Edgybees has been a pioneer in the augmented reality application software space. Edgybees has

developed an online platform that delivers a superior augmented reality solution to users seeking real-time intelligence in

the most complex and dynamic environments. Edgybees operates in the Public Safety, Military, Industrial, Automotive, and

Synthetic Aperture Radar Markets where augmented reality provides situational awareness that helps users to understand

any emergency scene, instantly. The Company’s proprietary Visual Intelligence Technology has propelled it to become an

industry leader in first response technology and augmented reality application software.

Edgybees brings a wealth of experience and industry expertise to the management team through Co-Founder & CEO Adam

Kaplan, a serial entrepreneur; Co-Founder & CTO Menashe Haskin of Amazon’s Prime Air & Fire TV; and Co-Founder & Director

of Platform Nitay Medides - a robotics and drone expert.

The primary product differentiatory for Edgybees is their Visual Intelligence Technology Platform which fuses 3D video

generation, computer vision and multi-sensor data analytics to create dynamic virtual worlds for complex environments.

Edgybees allows the combination of any video input and any GIS input to be layered onto a single augmented, real-time

visual display field. Edgybees has both civilian and commercial applications and can be used to gain “best in class situational

awareness” in any environment, from the battlefield to the golf course.

Edgybees offers a proprietary software solution for Unmanned Aerial Systems (UAS) which outputs an augmented live video

feed with precise geo-information layers captured from any camera, human input or other data sources. The output is

compatible with any screen, tablet, or phone and provides a simple visual layer of highly accurate, real-time information. The

result is instant clarity and collaboration within even the most complex operational environments.

Edgybees’ extensive industry experience and seasoned leadership team have afforded the company the support of several

large multinational organizations including Motorola and Verizon. Edgybees began as a technology that powered a racing game

but has extended itself to become an industry-leading solutions provider for commercial and industrial drone users looking

to leverage augmented reality. Edgybees’ unwavering commitment to these industries will continue on as they simultaneously

expand the next set of drone applications into new markets.

Ownership: Privately held by Founders, OurCrowd, Motorola Solutions, NFX, 8VC, Verizon, and Aspect Ventures

Number of Employees: Under 50


HaMada St 6Herzliya, Israel

www.edgybees.com

Edgybees, Ltd.

COMPANY PRESENTERS


Source: Company



Sector: Cyber Security

eSENTIRE, the global leader in Managed Detection and Response (MDR), keeps organizations safe from constantly evolving

cyber attacks that technology alone cannot prevent. Its 24x7 Security Operations Center (SOC), staffed by elite security analysts,

hunts, investigates, and responds in real-time to known and unknown threats before they become business disrupting events.

Protecting more than $6 trillion AUM in the financial sector alone, eSentire absorbs the complexity of cybersecurity, delivering

enterprise-grade protection and the ability to comply with growing regulatory requirements. For more information, visit www.

esentire.com and follow @eSentire.

Ownership: Private



451 Phillip Street, Suite 135Waterloo, ON N2L 3X2

(519) 651-2200www.esentire.com

eSENTIRE, Inc.

COMPANY PRESENTERS


Source: Company



Sector: Security, Telecare, Cyber and Medical Aesthetics

Essence Group is a global provider of IoT connected-living, cybersecurity and medical aesthetics solutions for communication, security and healthcare service providers, serving households and small-medium businesses. Leveraging 25 years of experience and innovation with a global presence and 50 million devices deployed worldwide, Essence is committed to developing and supporting solutions that enhance partners’ businesses and enable people to live fuller, better lives.

Essence Group is a technology leader with companies and solutions across four major fields of expertise:

• Essence Smart Security is a world leading developer of end-to-end security and smart home platforms for homes and businesses.

• Essence SmartCare offers senior protection solutions, which use intelligent telecare to provide preventive and emergency response in multiple settings.

• SigmaDots’ cybersecurity solutions protect IoT networks by employing serverless architecture and blockchain-based methodology to provide true security and service continuity.

• Essence Novel develops innovative medical aesthetics solutions that utilize advanced skin analysis and multiple treatment methods to bring holistic solutions to skincare.

We take pride in the full ownership of our end-to-end solutions from concept development and design, through the manufacturing of hardware and software development to the commercial launch and day-to-day operations. This not only ensures solution reliability, it means we can be flexible and design solutions ideally personalized to our partners’ needs, enhancing their market positioning and end-customer experience.

Essence’s B2B2C model emphasizes providing complete solutions that enhance customer experience. Our solutions provide the highest quality, reliability, agility, and give premium value-for-money.

Our security business is widely recognized as a provider of advanced wireless alarm solutions to some of the leading security monitoring companies in the world. In the field of telecare, our PERS systems, using algorithm-based activity monitoring, voice and advanced communications ensure the safety of seniors around the world. The premium we place on technology, quality and flexibility has earned us a high level of trust among our myriad partners.

Ownership: Private


Annual Revenues: ~$250m

12 Abba Eban Blvd.Herzliya, Israel 4672530

+972 (0)73 2447777www.essence-grp.com

Essence Group

COMPANY PRESENTERS


Source: Company



Sector: Physical Security

The need for security measures that protect lives in public spaces has never been greater. Mass casualty events have been

on the rise for the last decade. Evolv Technology, a Boston area start-up founded in 2013, has developed the first technology

proven to address the active shooter and terrorism epidemic without subjecting visitors to the traditional invasive security

process. The company’s AI-based technology detects concealed firearms and other threats 10 times faster than traditional

screening before they can enter venues such as public landmarks, workplaces, stadiums, schools, houses of worship and

other locations in a secure, but non-intrusive manner. Security professionals are quickly adopting Evolv’s free-flow weapons-

detection systems to solve today’s mass vulnerability problem.

Evolv’s products are designed to address the active shooter, workplace violence and terrorism epidemic without the hassle

of traditional security screening. By fusing the latest sensors and Cortex AI™, Evolv delivers the only weapons-detection

capability smart enough to screen thousands of visitors per hour without the need to stop and empty pockets or remove bags.

Evolv eliminates the need to choose between safety and convenience, reducing the burden on security teams and taking the

hassle out of people screening. The Company has screened more than 25 million people to-date, preventing more than 5000

weapons from entering public and private venues and places of work globally.

Evolv Technology, the leader in free-flow threat detection, delivers both security and freedom of movement with a discrete

tool that seamlessly screens people and their belongings in real-time. Organizations such as Lincoln Center, Oakland Airport,

Gillette Stadium, and LL Bean use Evolv’s free-flow weapons detection technology to prevent active shooter and terrorist

events, without creating an intrusive visitor experience.

Ownership: Private



200 West Street Waltham, MA 02451

(781) 374-8000 www.evolvtechnology.com

Evolv Technologies, Inc.

COMPANY PRESENTERS


Source: Company



Sector: Video Surveillance

Eyewitness Surveillance is an industry leading provider of remote, interactive video surveillance and auditing solutions. Eyewitness has a state-of-the-art central monitoring station and a dedicated audit team that leverage enhanced video analytics and sensor data to provide real-time remote security monitoring and operational services.

Security

• Remote Interactive Video Surveillance

• Intrusion

• Access Control

Operations

• Operational Audits & Reporting

• Service Lane Systems

• Inventory Tracking

• Traffic Analytics

• Personnel Efficiency & Safety Audits

Eyewitness focuses on automotive dealerships and industrial processing facilities nationwide and monitors over 12,000 live cameras to secure over 900 sites and well over 200 million sq. ft. of property.

Ownership: Private



7521 Connelley Dr Hanover, MD 21144

(800) 518-3911www.eyewitnesssurveillance.com

Eyewitness Surveillance

COMPANY PRESENTERS


Source: Company



Sector: Commercial Systems Integration, SECaaS, Monitoring

People | Places | Profits – PROTECTED. More than a tag-line, this phrase embodies how FE Moran Security Solutions goes to

market. Our solution set transcends physical security, rooted in high margin subscription based revenue, and an emphasis

on growing long-term relationships. Since 2003, we’ve built density in the Midwest and a nationwide infrastructure to serve

local, regional and national clients.

FE Moran Security Solutions’ capabilities include the design, installation, service, and monitoring (from our own UL Listed,

FM Approved SOC) of fire and intrusion alarms, access control, video surveillance, RFID and EAS systems, and network

infrastructure. We deliver integrated solutions as-a-service resulting in long-term, profitable relationships.

We focus on these core operating principles:

• Maintain excellent client retention rates through old-fashioned, fanatical service

• Help our team members and clients reach their full potential

• Disciplined acquisition strategy

• Strong internal sales engine

• Recurring Revenue on every sale

• Develop competitive moats through one-source, one-responsibility solutions delivery model

• Promote diversified revenue streams and client mix

…which yields

• Annualized client attrition <8%

• Total Creation Cost Multiple <25x

• Recurring Revenue Margin >70%

• Customer Acquisition Cost Ratio >3.5

• Total revenue derived from Commercial Clients >90%

• Recurring Monthly Revenue ~$1.5M

Ownership: Private


Annual Revenues: >$55M

201 W University Ave Champaign, IL 61820

(217) 403-6440www.FEMoranSecurity.com

FE Moran Security Solutions, LLC

COMPANY PRESENTERS


Source: Company



Sector: Access Control as a Service (ACaaS)

Feenics, Inc., Ottawa, Canada, launched commercially in 2014, achieving fast-start and phenomenal growth in the cloud-

hosted, Access Control as a Service (ACaaS) sector while simultaneously building its value-added reseller (VAR) program. The

award-winning Keep by Feenics™ access control and security management system (SMS) is the only solution available on the

market that provides the choice of Amazon Web Services (AWS) based hosted services and an on-premise model, addressing

the varied needs of the end-user community and their diverse vertical markets. As a hosted platform, Keep reduces the total

cost of ownership (TCO) by eliminating servers and appliances, while providing a RESTful API for custom integrations. Powerful

features, including one-click emergency lock down, real- time event monitoring, reporting and alarm push notification to email/

text are available through an easy to navigate User Interface (UI) accessible via any internet browser connection, Windows

desktop or mobile app. Keep by Feenics features purpose-built cyber security design, including two-factor authentication, TLS

encrypted field hardware and a secure SSL connection, as well as full disaster recovery and system redundancy. By design,

Keep by Feenics allows users a lower TCO and the ability to leverage services as a manageable, monthly operating expense, as

opposed to a large capital outlay or Cap Ex. The modular design of Keep by Feenics scales easily – from single sites to a multi-

location, enterprise environment, while utilizing non-proprietary field hardware by Mercury.

Feenics is currently integrated to over 40 OEM providers, including eight network video recorders, Bosch intrusion panels,

ASSA ABLOY and Allegion’s wireless locks. Feenics has recently released its natively built visitor management application and

is in process of becoming FICAM compliant via FIPS201-2.

The reseller channel continues to expand, having more than 220 certified Feenics integrators with installations spanning six

continents. AccessXpert, Schneider Electric’s privately labeled version of Keep, has seen significant adoption with its channel,

as cloud-based solutions gain credibility with medium to large end users. The Keep VAR program has grown significantly,

allowing systems integrators to embrace and offer new categories of proactive managed security services for additional and

tangible recurring monthly revenue (RMR).

Ownership: Private



301-2310 St. Laurent Blvd.Ottawa, ON, Canada K1G 5H9

(855) 333-6427www.feenics.com

Feenics Inc.

COMPANY PRESENTERS


Source: Company



Sector: Cloud, SaaS Based Solution

FieldHub is an all-in-one SaaS platform that powers the operations of security alarm and integrator businesses. FieldHub has

streamlined customer relationship management (CRM), field service management, inventory, deferred revenue, time-tracking,

accounts receivable and payable, general ledger, and process management, and may be deployed as a complete platform or

in modular components.

FieldHub was launched to the security integrator market in April 2019 through partner channels and direct sales. It is the

modern solution for growth-minded businesses, supporting the full project lifecycle from first sales contact through final

invoice. This robust functionality often replaces multiple legacy systems, reducing customers’ overhead and eliminating risk

to data fidelity. FieldHub particularly resonates with customers that have strong recurring revenue portfolios, as it provides

native processing of recurring charges and built-in general ledger support around deferred revenue.

FieldHub launched with a focus on middle-market businesses integrating and managing security, with a long-term vision of

supporting other recurring-focused verticals such as information technology, electrical/mechanical, oil/gas, medical, and other

IoT/cyber systems. It is the result of over fifty thousand developer hours and extensive real-world testing and usage.

• Customer Relationship Management (CRM)

• Sales & Proposal Management

• Customer Portal

• Scheduling & Dispatch

• Warehouse Management

• Field Technician Mobile App

• Accounting

• Reports & Dashboards

Ownership: Private



7200 Wisconsin Ave #500Bethesda, MD 20814

(202) 744-7900www.fieldhub.com

FieldHub Inc.

COMPANY PRESENTERS


5th Floor, Southside,105 Victoria StreetLondon SW1E 6QT

United Kingdomwww.g4s.com

G4S plc (L:GFS)11/11/2019G4S plc (L:GFS) 5th Floor, Southside,105 Victoria Street11/18/2019 London SW1E 6QT

United Kingdomwww.g4s.com

Market Information as of 11/18/2019 Cap Structure (mm) 6/30/2019 Historical Financials (£mm exc per share data)Ticker LSE:GFS FD Shares (Wt Avg) 1,547.0 2015 2016 2017 2018 LTM YTD 18 YTD 19Latest Close Price £2.06 Market Cap(1) £3,193.0 Sales £6,863.0 £7,590.0 £7,826.0 £7,512.0 £7,650.0 £3,669.0 £3,807.052 Week Hi - Low £2.42 - £1.66 Total Debt £2,781.0 Gross Profit 1,271.0 1,378.0 1,397.0 1,304.0 1,313.0 640.0 649.0LTM Stock Performance 12.4% Cash £600.0 SG&A 747.0 780.0 784.0 769.0 775.0 441.0 447.0Float (Shares in mm) 1,537.2 Preferred - Adj. EBITDA 504.0 573.0 609.0 531.0 523.0 325.0 317.0Short Interest (as % of Float) 0.0% Minority Interest £39.0 EBIT 329.0 410.0 473.0 414.0 417.0 199.0 202.0Avg. Day Vol - 3 mos (000s) 5,084.8 Enterprise Value £5,413.0 Net Income 8.0 198.0 237.0 82.0 40.0 101.0 59.0Dividend/sh (latest annualized) 0.10 Book Value of Equity £592.0Dividend yield 4.7% Tangible Book Value £1,441.0 CFO 283.0 522.0 402.0 315.0 262.0 203.0 150.0

Capex (111.0) (116.0) (109.0) (114.0) (128.0) (52.0) (66.0) Liquidity (mm) 6/30/2019 FCF 172.0 406.0 293.0 201.0 134.0 151.0 84.0Available £430.0 FCF/Share 0.1 0.3 0.2 0.1 0.1 0.1 0.1Liquidity (Available + Cash)(2) 1,030.0(1)As of 11/18/19(2) Liquidity reduced by bank overdrafts. Source: Historical Financials from Capital IQ.

Company Info Balance Sheet Metrics 6/30/2019 Performance RatiosSector Security Systems & Services Days Sales Out 70 2015 2016 2017 2018 LTM YTD 18 YTD 19Last Reported Qtr 6/30/2019 Days Inv On Hand 7 YoY Rev Grth -0.4% 10.6% 3.1% -4.0% 1.7% -7.6% 3.8%Currency GBP Days Payable Out 66 Gross Margin 18.5% 18.2% 17.9% 17.4% 17.2% 17.4% 17.0%Employees 570,000 Net Work Cap % of Rev 3.7% SG&A / Sales 10.9% 10.3% 10.0% 10.2% 10.1% 12.0% 11.7%Website www.g4s.com Net Fixed Assets % Rev 8.8% EBITDA Margin 7.3% 7.5% 7.8% 7.1% 6.8% 8.9% 8.3%Telephone 44 20 7963 3100 Cash / Share £0.39 EBIT Margin 4.8% 5.4% 6.0% 5.5% 5.5% 5.4% 5.3%Next Earnings Date 11/15/2019 Book Value / Share £0.38 Net Margin 0.1% 2.6% 3.0% 1.1% 0.5% 2.8% 1.5%

TBV / Share £0.93 ROIC % 48.1% 63.7% 84.6% 85.2% 43.4% 31.3% 21.0%


Interest As of Scheduled Maturities (from Latest 10K and 10Q)Capitalization Table (in mm) Coupon(1) Expense Maturity 6/30/2019 (in mm) Debt

Cash £600.0 Less Than 1 Year £59.0Multicurrency Revolving Credit Facility 1.4% £4.5 Aug-24 320.0 1-2 Years 359.0Term Loan Facility 2018 3.4% 9.5 2021 276.0 3-5 Years 1,212.0US PP 2007 6.1% 5.0 2022 83.0 More than 5 Years 753.0US PP 2008 6.9% 4.1 2020 59.0 Total £2,383.0US PP 2019 4.9% 6.1 2026 124.0US PP 2019 5.1% 7.4 2029 145.0Public Bond 2016 1.5% 6.7 2023 449.0Public Bond 2017 1.5% 6.6 2024 443.0Public Bond 2018 1.9% 9.1 2025 484.0Leases 398.0Total Debt £2,781.0Net Debt 2,181.0Preferred Equity -Minority Interest 39.0Shareholders' Equity (Book) 592.0Total Capital £3,412.0

Source: Capital IQ and Company SEC Filings. (1) Coupons are hedged.

G4S plc, together with its subsidiaries, provides security and related services in Africa, the Americas, Asia, Europe, and the Middle East. The Company offers software tools, including evidence based risk assessment, incidentmanagement, and travel advisory systems, such as RISK360; and proprietary security systems comprising symmetry connect access control and visitor management systems. It also provides custody, detention, rehabilitation, andcare services; automated cash solutions for retailers, automated bulk-teller solution for banks, and mobile banking services, as well as G4S Pay, a retail cash solution; and security advice, risk mitigation strategies, secure support,and integrated solutions. The Company serves corporates and industrials, government, financial institutions, private energy/utilities, and ports and airports, as well as the retail, transport and logistics, and leisure and tourism sectors.G4S plc was founded in 1901 and is based in London, the United Kingdom.

While this summary is in circulation, Imperial Capital, LLC ("IC") or its affiliates may, from time to time, make purchases or sales for their own accounts of securities of any entity. IC’s market making may constitute, in the case of equity securities and certain debt securities, standing ready to make purchases or sales of securities on a regular or continuous basis or quoting markets in debt securities. Notwithstanding IC’s market making activities as of the date hereof, while this summary is in circulation IC may begin or discontinue such market making activity for any entity. IC is a member of FINRA (www.finra.org) and SIPC (www.SIPC.org).


Notes:- As of 30 June 2019, G4S had drawn down £320 million from the RCF facility (2018: undrawn).- On April 10, 2019, Garda World noted the recent market speculation in relation to G4S and confirms that it was in the preliminary stages of considering an approach to the board of G4S regarding a possible cash offer for the Company, or a part thereof.

COMPANY PRESENTERS


2201 Walnut Avenue Suite 100Fremont, CA , 94538

www.identiv.com

Identiv, Inc. (INVE)

11/14/2019

Identiv, Inc. 2201 Walnut Avenue Suite 10011/14/2019 Fremont, CA , 94538

www.identiv.com

500 997 998 999 1000 2000 2996 3000

9/30/19 12/31/15 12/31/16 12/31/17 12/31/18 9/30/19 9/30/18 9/30/19

Market Information as of 11/14/2019 Cap Structure (mm) 9/30/2019 Historical Financials ($mm exc per share data)Ticker NasdaqCM:INVE FD Shares (Wt Avg) 17.8 2015 2016 2017 2018 LTM YTD 18 YTD 19Latest Close Price $5.08 Market Cap(1) $90.4 Sales $60.8 $56.2 $60.2 $78.1 $86.1 $56.8 $64.852 Week Hi - Low $6.87 - $3.34 Total Debt $13.3 Gross Profit 23.1 23.7 22.2 33.3 39.3 23.1 29.1LTM Stock Performance -21.2% Cash $11.1 SG&A 48.9 31.9 27.8 33.5 35.4 25.5 27.4Float (Shares in mm) 16.6 Preferred $0.0 Adj. EBITDA(2) (17.6) (2.1) 2.7 5.7 9.7 2.6 6.6Short Interest (as % of Float) 0.3% Minority Interest $0.0 EBIT (25.8) (8.1) (5.7) (0.2) 3.9 (2.4) 1.7Avg. Day Vol - 3 mos (000s) 39.5 Enterprise Value $92.6 Net Income (39.1) (13.7) (8.1) (4.7) 1.3 (5.3) 0.7Dividend/sh (latest annualized) - Book Value of Equity $36.7Dividend yield - Tangible Book Value $15.9 CFO ($23.0) ($6.2) ($7.7) ($5.2) ($2.2) ($3.0) $0.0

Capex (0.3) (0.5) (1.0) (1.3) (0.7) (0.6) 0.0Liquidity (mm) 9/30/2019 FCF (23.3) (6.8) (8.7) (6.5) (2.9) (3.6) 0.0Available $6.7 FCF/Share (1.31) (0.38) (0.49) (0.37) (0.16) (0.20) 0.00Liquidity (Available + Cash) $17.8

(2) Adj. EBITDA is based on company filings and excludes certain non-cash, non-recurring, and/or non-operating expenses

(1)As of 11/27/19 Source: Historical Financials from Capital IQ and Company SEC Filings

Company Info Balance Sheet Metrics 9/30/2019 Performance RatiosSector Electronic Equipment & Instruments Days Sales Out 71 2015 2016 2017 2018 LTM YTD 18 YTD 19Last Reported Qtr 9/30/2019 Days Inv On Hand 101 YoY Rev Grth -25.2% -7.6% 7.2% 29.8% 17.3% 30.2% 14.0%Currency USD Days Payable Out 49 Gross Margin 38.1% 42.2% 36.8% 42.7% 45.7% 40.7% 44.9%Employees 273 Net Work Cap % of Rev 21.3% SG&A / Sales 80.5% 56.7% 46.2% 42.8% 41.1% 44.9% 42.3%Website www.identiv.com Net Fixed Assets % Rev 8.5% EBITDA Margin NM NM 4.5% 7.2% 11.2% 4.6% 10.2%Telephone 888-809-8880 Cash / Share $0.62 EBIT Margin NM NM NM NM 4.6% NM 2.6%Next Earnings Date 10/31/2019 Book Value / Share $2.06 Net Margin NM NM NM NM 1.5% NM 1.0%

TBV / Share $0.89 ROIC % NM NM NM -0.8% 15.3% -14.0% 6.6%

Source: Capital IQ and Company SEC Filings Source: Performance Ratios calculated based on historical financials from Capital IQ and SEC Filings

Interest As of Contractual Obligations Revolver Purchase Acquisition OperatingCapitalization Table (in mm) Coupon Expense(1) Maturity 9/30/2019 (in mm) Obligation Obligations Obligations Leases

Cash $11.1 Less Than 1 Year $13.3 $13.7 $0.0 $1.1Revolving Credit Facility P + 0.75% $0.8 Feb-21 13.3 Thereafter - - 2.4 5.4Operating Leases 6.6 Total $13.3 $13.7 $2.4 $6.6Total Debt $13.3Net Debt 2.2Preferred Equity 0.0 Minority Interest 0.0Shareholders' Equity (Book) 36.7Total Capital $50.0

(1) Assumes prime rate of 5.50%Source: Capital IQ and Company SEC Filings

This summary is for informational purposes only. Under no circumstances is it to be used or considered as an offer to sell, or a solicitation of an offer to buy any security. While the information contained in this summary has been obtained from sources believed to be reliable, we do not represent or guarantee that the summary isaccurate or complete, and it should not be relied upon as such. Based on information available to us, prices in this summary are as of the date hereof. The securities mentioned in this summary involve substantial risk and should generally be purchased only by investors able to accept such risk.

While this summary is in circulation, Imperial Capital, LLC ("IC") or its affiliates may, from time to time, make purchases or sales for their own accounts of securities of any entity. IC’s market making may constitute, in the case of equity securities and certain debt securities, standing ready to make purchases or sales of securities ona regular or continuous basis or quoting markets in debt securities. Notwithstanding IC’s market making activities as of the date hereof, while this summary is in circulation IC may begin or discontinue such market making activity for any entity. IC is a member of FINRA (www.finra.org) and SIPC (www.SIPC.org).

Identiv, Inc. operates as a security technology company that secures data, physical places, and things worldwide. Its Premises segment offers modular Hirsch MX controllers allow customers to start with a small system and expand over time; HirschVelocity software platform for centralized management of access and security operations across an organization; federal identity, credential and access management architecture, an access control system; TouchSecure door readers that providevarious features to support security standards; and global services to support system design, deployment, and managed services across customers premises security lifecycle. Its Identity segment provides smart card readers. Its Credentials segmentprovides NFC and radio frequency identification products, including inlays and inlay-based, and other cards; as well as other radio frequency and integrated circuits components for use in various applications. Identiv, Inc. markets and sells its productsthrough original equipment manufacturers, dealers, systems integrators, value added resellers, resellers, and Internet, as well as directly to end users. The company was formerly known as Identive Group, Inc. and changed its name to Identiv, Inc. inMay 2014. Identiv, Inc. was founded in 1990 and is headquartered in Fremont, California.

Notes:- On August 29, 2019 Identiv announced the launch of its new uTrust 2920 F Bluetooth Smart Card Reader, focusing on portable security and powerful authentication in mobile cybersecurity.- On August 19, 2019 Identiv announced that the company has been awarded “2019 New Product of the Year” by Security Today and “Leading Provider of Secure Access Control Solutions 2019 – USA” by Corporate Vision (CV) Magazine and AIGlobal Media Ltd.- On February 6, 2019, the Company entered into an amendment (the “Tenth Amendment”) to its Loan and Security Agreement with EWB. Under the Tenth Amendment, the Revolving Loan Facility under the Loan and Security Agreement wasincreased from $16.0 million to $20.0 million, the interest rate was reduced from prime rate plus 1.0% to prime rate plus 0.75%.

COMPANY PRESENTERS


Source: Company



Sector: FinTech and RegTech

Intelligo offers clients the power to mitigate risk, in just one click. The Intelligo Clarity SaaS platform is fueled by AI and human

intellect to produce comprehensive and nuanced background checks.

Intelligo Clarity reimagines what background checks should be to provide enhanced ease of use, increased accuracy, and

much needed innovation to the industry. With each check, Intelligo Clarity delves deep into data to create a web of critical

information related to fund managers or candidates, uncovering meaningful connections and shedding light on murky waters.

All results run through our analysis engine, which flags suspicious or cautionary behavior, providing clients with the meaning

behind the data.

Founded by members of Israel’s elite intelligence units, Intelligo is a pioneer in comprehensive background checks, focusing

today on the financial industry. York Capital Management, Truvvo Partners, Sentinel Capital Partners, Nasdaq, Jonathan Soros

Capital Management, among many others, are proud Intelligo clients.

Ownership: Private



311 W 43rd St, New York NY 10036

(917) 887-9757 www.intelligo.ai

Intelligo Group

COMPANY PRESENTERS


Source: Company



3773 Corporate Center DriveEarth City, Missouri 63045

(314) 595-0100www.interfacesystems.com

Sector: Security and Alarm Services

Interface Security Systems (“Interface” or the “Company”) is the recognized leader and pioneer in providing a proprietary,

comprehensive bundle of monitored, mission-critical managed network, physical security, interactive video monitoring and

business intelligence. The Company provides its services over a private payment card industry compliant secure cloud-based

network to many of North America’s most recognized brands across multiple business sectors including the retail, hospitality,

dining, jewelry and QSR industries.

The Company deploys a managed service business model generating high margin recurring revenue. Its fully-integrated bundle

of IP-based managed solutions enables customers to eliminate the need for multiple vendors, significantly enhancing the

quality, breadth, efficiency and security of their stores and network while reducing costs, streamlining system administration

and improving operations with key business analytics.

With private monitored and managed broadband, video monitoring, security & life safety, digital voice, and new business

intelligence capabilities, the Company is equipped to meet the rapidly-changing technology demands of today’s retail,

commercial and small business enterprises. Interface currently manages more than 68,000 customer locations and over 2.2

million devices. Its managed security services are delivered through a secure, cloud-based managed broadband connection

that connects and protects both its customers’ data and physical assets with state-of-the-art PCI compliance.

Interface Security Systems LLC was formerly known as Interface Systems, Inc. and changed its name to Interface Security

Systems LLC in January 1998. The company was founded in 1983 and is headquartered in Earth City, Missouri.

Ownership: Private


Annual Revenues: <$200 million

Interface Security Systems

COMPANY PRESENTERS


Source: Company



Sector: Intelligent Video Analytics (IVA), Artificial Intelligence, Facial Recognition

Headquartered in London, England, Ipsotek is the leading provider of AI enhanced Video Analytics used in high traffic and

complex environments across transportation, critical infrastructure, government, and commercial industry verticals. Trading

since 2005 with offices in Dubai and Singapore, Ipsotek has delivered over 250 security deployments in 36 countries. Amongst

these are 30 International Airports and critical infrastructure including 19 nuclear sites.

The core of Ipsotek’s Video Analytics solution is its patented Scenario-Based Rule Engine (SBRE), which enables operators to

apply complex logic rules that trigger alerts when a specific scenario set occurs e.g. a vehicle stops in a restricted zone, driver

exits vehicle and goes beyond a defined perimeter would be a strict three stage scenario for an abandoned vehicle. Only when

all three conditions happen in sequence is an alarm generated. Most Analytics would typically alarm on a vehicle remaining

stationary over a set time in the restricted zone - which would generate many false alarms in e.g. an airport departure drop off.

Powered by NVIDIA GPUs, Ipsotek’s platform has now significantly enhanced the Video Analytics capability with the addition

of AI, accurately recognising more object classes such as specific vehicle types, backpacks or people using mobile handsets

providing richer scenario definition.

Core Video Analytics is also used to trigger AI capability for improved accuracy only when required, thus enhancing system

performance while preserving processing power and reducing overall hardware costs.

The Company’s patented Tag & Track capability constantly tracks all objects in a CCTV network, all tagged with GPS coordinates

and overlaid real time on a map. This automates tracking a target across multiple cameras (whether or not overlapping), while

providing backwards search analysis of the targets journey. AI is used in this context to enhance the tracking of individuals in

crowded areas such as airports.

The Company’s solution can serve as a platform for integrating third-party solutions like access control to create multi-triggered

logic rules, enhancing security and reducing false alarms.

Enabled by AI, the technology has become very scalable to deploy and project sizes are significantly increasing beyond $1m

as software only solutions.

Ownership: Private



27 – 37 St George’s Road London, SW19 4EU

+44 (0) 208 971 8300 www.ipsotek.com

Ipsotek Ltd.

COMPANY PRESENTERS


Source: Company



11411 Southern Highlands PkwySuite 190

Las Vegas, NV 89141i-viewnow.com

Sector: SaaS, Monitoring Station Video and Signaling Platform - Addition Data Repository (ADR) for Public Safety Answering Points (PSAPs)I-View Now integrates security system signals, video sources, cloud applications, and Internet connected devices (IoT) into its

cloud platform with the objective of giving end users more control, operators more actionable data, and authorized emergency

responders better information to prioritize their resources.

I-View Now’s genuine cloud architecture and Software as a Service (SaaS) model means there is no additional software or

hardware to purchase at the protected premises, in the monitoring center, or for emergency responders. Unifying these

technologies and constituencies results in fewer false dispatches, faster response times, and safer communities.

I-View Now is more than a patented and award-winning monitoring station video and signaling platform. I-View Now connects

end users, monitoring centers, and first responders with the unified and aggregated data in our Additional Data Repository

(ADR) giving them better information for better choices.

I-View Now is utilized by the security industries leading security companies, is integrated to all nine (9) major monitoring

station software platforms, and our patented process for delivery of video first responders means I-View Now is uniquely

positioned to reduce false alarms and increase those alarms, that are worth, to a priority police response.

Ownership: Acquired by ADT October 2019 but continuing to serving the entire market



I-View Now

COMPANY PRESENTERS


Source: Company



Sector: Personal Emergency Response Systems (PERS)

Medical Guardian, LLC is a leading provider of medical alert products and services to the senior population. The Company

provides products such as smartwatches, alert pendants, smart in-home monitoring and other mobile fall detection devices.

Medical Guardian has the industry leading direct-to-consumer (DTC) sales and marketing platform and is rapidly scaling their

Retail and Healthcare channels. Medical Guardian’s product and service offerings give subscribers the ability to continue their

normal lifestyles with increased protection for a fraction of the cost of other senior care alternatives.

The Company is currently the 6th largest provider in the personal emergency response system (“PERS”) industry with a history

of exceptional growth, being named to Inc. Magazine’s “America’s Fastest Growing Private Companies – the Inc. 500” seven years

in a row. The rapidly increasing senior population and technology advancements are generating strong forecasted growth

within the U.S. PERS industry, which is expected to grow from approximately 3.9 million subscribers in 2018 to over 6 million

subscribers in 2021. These favorable secular trends are expected to continue and Medical Guardian, with an empowering

brand foundation, is positioned to disproportionately benefit from this meaningful market expansion.

Medical Guardian was founded in 2005 and is headquartered in Philadelphia, Pennsylvania.

Ownership: Privately Held

Number of Employees: >200

Annual Revenues: <$100 million

1818 Market Street, Suite 1200Philadelphia, Pennsylvania 19103

(800) 313-1191www.medicalguardian.com

Medical Guardian, LLC

COMPANY PRESENTERS


Source: Company



Sector: Mission-Critical Infrastructure

Mission Critical Partners (MCP) is a professional services and network and IT services firm that helps mission-critical clients

evolve their mission-critical operations and improve emergency response outcomes. Founded in 2009, MCP offers independent

and unique solutions that solve our clients’ most complex challenges. Our services that span all aspects of mission-critical

communications, while our expertise covers everything from cybersecurity, wireless and broadband, data, safe cities, networks

and 911, and facilities and operations. We provide confidence and support every step of the way, from assessments, to design

and procurement, building and IT support and monitoring and management. The result is a high-performing, secure and

resilient critical-infrastructure system that achieves maximum value and optimal efficiency.

• We’re working in 80 percent of the nation’s top 50 metropolitan service areas to improve response outcomes

• 115+ FTEs

• Serve clients in more than 42 states across the US

• Trusted by more than 350 public safety agencies

• Greater than 90% client success rate

Ownership: Private



690 Grays Woods BlvdPort Matilda, PA 16870

(888) 8MCP-911MissionCriticalPartners.com

Mission Critical Partners

COMPANY PRESENTERS


333 Bayview AvenueAmityville, NY, 11701

www.napcosecurity.com

NAPCO Security Technologies, Inc. (NSSC)11/11/2019

NAPCO Security Systems (NSSC) 333 Bayview Avenue11/11/2019 Amityville, NY, 11701

www.napcosecurity.com

Market Information as of 11/11/2019 Cap Structure (mm) 9/30/2019 Historical Financials ($mm exc per share data)Ticker nasdaqGS:NSSC FD Shares (Wt Avg) 18.5 2016 2017 2018 2019 LTM YTD 18 YTD 19Latest Close Price $28.25 Market Cap(1) $523.6 Sales $82.5 $87.4 $91.7 $102.9 $105.8 $23.4 $26.352 Week Hi - Low $34.91 - $13.77 Total Debt - Gross Profit 27.6 36.3 38.0 43.9 45.8 9.6 11.5LTM Stock Performance 63.1% Cash $10.8 SG&A 21.3 29.9 29.6 30.4 30.5 7.8 7.9Float (Shares in mm) 11.5 Preferred - Adj. EBITDA 7.8 7.9 10.0 15.0 15.0 15.0 15.0Short Interest (as % of Float) 14.9% Minority Interest - EBIT 6.3 6.4 8.4 13.5 15.3 1.8 3.6Avg. Day Vol - 3 mos (000s) 177.1 Enterprise Value $512.9 Net Income 5.8 5.6 7.6 12.2 14.0 1.5 3.2Dividend/sh (latest annualized) - Book Value of Equity $74.4Dividend yield - Tangible Book Value $67.3 CFO $9.2 $2.4 $7.9 $8.7 $8.5 $3.1 $2.9

Capex (0.7) (1.4) (1.3) (2.0) (1.7) (0.4) (0.2)Liquidity (mm) 9/30/2019 FCF 8.5 1.0 6.6 6.7 6.7 2.7 2.7Available(2) $11.0 FCF/Share 0.46 0.06 0.36 0.36 0.36 0.15 0.15Liquidity (Available + Cash) 21.8(1)As of 11/11/2019(2)As of 9/30/2019 Source: Historical Financials from Capital IQ, Company SEC Filings, and Bloomberg

Company Info Balance Sheet Metrics 9/30/2019 Performance RatiosSector Electronic Equiptment and Instruments Days Sales Out 81 2016 2017 2018 2019 LTM YTD 18 YTD 19Last Reported Qtr 9/30/2019 Days Inv On Hand 171 YoY Rev Grth 6.1% 5.9% 5.0% 12.2% 12.7% 10.4% 12.4%Currency USD Days Payable Out 30 Gross Margin 33.4% 41.5% 41.4% 42.6% 43.3% 40.9% 43.8%Employees 1,076 Net Work Cap % of Rev 41.8% SG&A / Sales 25.8% 34.2% 32.2% 29.6% 28.8% 33.4% 30.1%Website www.napcosecurity.com Net Fixed Assets % Rev 7.5% EBITDA Margin 9.5% 9.0% 10.9% 14.6% 14.2% 64.2% 57.1%Telephone 631-842-9400 Cash / Share $0.58 EBIT Margin 7.7% 7.3% 9.2% 13.1% 14.5% 7.5% 13.7%Next Earnings Date 11/31/2019 Book Value / Share $4.01 Net Margin 7.0% 6.4% 8.3% 11.9% 13.2% 6.4% 12.3%

TBV / Share $3.63 ROIC % 16.0% 14.5% 18.4% 26.5% 26.3% 4.1% 6.2%


Interest As of Scheduled Maturities OperatingCapitalization Table (in mm) Coupon Expense Maturity 9/30/2019 (from Latest 10K and 10Q)(in mm) Leases

Cash $10.8 Less than 1 Year $0.2Revolving Credit Facility L + 1.15 -2.00% - Jun-21 - 1 - 3 Years $0.6Total Debt - 5 or more Years 6.9Preferred Equity - Total $7.7Minority Interest -Shareholders' Equity (Book) 74.4Total Capital $85.20

Source: Capital IQ and Company SEC Filings.

This summary is for informational purposes only. Under no circumstances is it to be used or considered as an offer to sell, or a solicitation of an offer to buy any security. While the information contained in this summary has been obtained from sources believed to be reliable, we do not represent or guarantee that thesummary is accurate or complete, and it should not be relied upon as such. Based on information available to us, prices in this summary are as of the date hereof. The securities mentioned in this summary involve substantial risk and should generally be purchased only by investors able to accept such risk.

While this summary is in circulation, Imperial Capital, LLC ("IC") or its affiliates may, from time to time, make purchases or sales for their own accounts of securities of any entity. IC’s market making may constitute, in the case of equity securities and certain debt securities, standing ready to make purchases or sales ofsecurities on a regular or continuous basis or quoting markets in debt securities. Notwithstanding IC’s market making activities as of the date hereof, while this summary is in circulation IC may begin or discontinue such market making activity for any entity. IC is a member of FINRA (www.finra.org) and SIPC(www.SIPC.org).

Napco Security Technologies, Inc. manufactures and sells security products and software worldwide. The company offers access control systems, door-locking products, intrusion and fire alarm systems and video surveillance systems. Itsaccess control systems include various types of identification readers, control panels, PC-based computers and electronically activated door-locking devices. The company’s alarm systems include automatic communicators, cellularcommunication devices, control panels, combination control panels/digital communicators and digital keypad systems, fire alarm control panels, area detectors and video surveillance systems. The company markets and sells its productsprimarily to independent distributors, dealers and installers of security equipment. Napco Security Technologies, Inc. was founded in 1969 and is headquartered in Amityville, New York.

Notes:- On August 20, 2019, Napco announced that Pepperdine University ordered 150 of NAPCO's Alarm Lock Division Architech Locks and 100 Trilogy Networx Locks for use on its campus in Malibu, CA.- On January 3, 2019, Napco announced that the Lewisville ISD, located in Texas, will be installing NAPCO Intrusion systems and Starlink Commercial FIRE Communicators. The school district is the 94th largest in the United States withapproximately 53,000 students.

COMPANY PRESENTERS


Source: Company



Sector: Security Monitoring Services

Netwatch Group was created in April 2018 from the merger of four separate companies. It combines expertise in Proactive

Video Monitoring (PVM) and Intruder/Fire/Personal and Elevator Alarms. The Group operates in Ireland, in the United Kingdom

and in the United States of America where it provides services from coast to coast and on to Hawaii. Netwatch Proactive Video

Monitoring allows highly trained intervention specialists to talk-down intruders crossing a perimeter line or loitering within a

monitored space with the intent to prevent a break-in before it happens, or, catch perpetrators by calling in law enforcement

and supporting them as they apprehend intruders. Netwatch combines people, process and technology to create a proprietary

platform that gives it huge competitive advantages. All monitoring is done in the US, Ireland or UK, enabling the group to offer

unparalleled response times to its customers. Business that cannot afford a human guard can now effectively have a virtual

guard. Customers with guards can augment the service and reduce the overall cost. Guarding companies use Netwatch to

optimize and enhance their services and better protect their staff. Integrators joining the Netwatch Certified Channel Partner

Program benefit from a detailed learning management system that covers every aspect of the service, marketing and sales

support as well as an app that allows them to manage their PVM business across their customers. Customers also use the app

to manage their site monitoring. Our leading integrators are increasingly prioritizing Netwatch in their service offering and

hiring additional staff to exploit the huge value creation opportunity that it gives them.

Ownership: The Riverside Company


Annual Revenues: : N/A

Cúram House, Athy RoadCarlow, Ireland

+ 353 59 9139698netwatchgroup.com

Netwatch Group

COMPANY PRESENTERS


91 Wimpole StreetLondon, Greater London, W1G 0EF

www.newmarksecurity.com

Newmark Security plc (L:NWT)11/11/2019

Newmark Security (LON:NWT) 91 Wimpole Street11/11/2019 London, Greater London, W1G 0EF

www.newmarksecurity.com

Market Information as of 11/11/2019 Cap Structure (mm) 4/30/19 Historical Financials (£mm exc per share data)Ticker AIM:NWT FD Shares (Wt Avg) 468.7 2016 2017 2018 2019Latest Close Price £0.01 Market Cap(1) £5.2 Sales £21.8 £16.0 £16.1 £19.652 Week Hi - Low £0.02 - £0.01 Total Debt £0.9 Gross Profit 9.1 5.8 5.8 7.8LTM Stock Performance 15.8% Cash £1.0 SG&A 7.6 7.2 6.8 7.1Float (Shares in mm) 199.8 Preferred - EBITDA 1.9 (1.0) (0.7) 1.0Short Interest (as % of Float) 0.0% Minority Interest £0.0 EBIT 1.5 (1.4) (1.0) 0.6Avg. Day Vol - 3 mos (000s) 1,499.9 Enterprise Value £5.1 Net Income 1.2 (5.2) (1.9) 0.2Dividend/sh (latest annualized) - Book Value of Equity £7.1Dividend yield - Tangible Book Value £2.9 CFO 1.76 (1.01) (0.20) 0.36

Capex (0.2) (0.2) (1.6) (0.2)Liquidity (mm) 4/30/2019 FCF 1.6 (1.2) (1.8) 0.2Available £0.0 FCF/Share 0.00 (0.00) (0.00) 0.00Liquidity (Available + Cash) 1.0(1)As of 11/11/19 Source: Historical Financials from Capital IQ and Company Filings.

Company Info Balance Sheet Metrics 4/30/19 Performance RatiosSector Security Systems & Services Days Sales Out 44 2016 2017 2018 2019Last Reported Qtr 4/30/2019 Days Inv On Hand 65 YoY Rev Grth -4.6% -26.5% 0.1% 22.0%Currency GBP Days Payable Out 37 Gross Margin 41.9% 36.3% 36.1% 39.7%Employees 128 Net Work Cap % of Rev 9.6% SG&A / Sales 35.1% 44.7% 42.5% 36.1%Website www.newmarksecurity.com Net Fixed Assets % Rev 2.5% EBITDA Margin 8.7% NM NM 4.9%Telephone 44 20 7355 0070 Cash / Share $0.00 EBIT Margin 6.8% NM NM 3.3%Next Earnings Date 10/31/2018 Book Value / Share $0.02 Net Margin 5.6% NM NM 1.0%

TBV / Share $0.01 ROIC % 78.9% NM NM 27.2%

Source: Capital IQ and Company Filings. Source: Performance Ratios calculated based on historical financials from Capital IQ and Filings.

Interest As of Scheduled Maturities Operating CapitalCapitalization Table (in mm) Coupon Expense Maturity 4/30/2019 (from Latest 10K and 10Q) (in mm) Leases Leases

Cash £1.0 Less Than 1 Year £0.4 £0.1Short Term Borrowings £0.8 1-5 Years 1.0 0.2Long Term Borrowings 0.1 1.5 0.3Total Debt £0.9Net Debt (0.1) Preferred Equity - Minority Interest 0.0Shareholders' Equity (Book) 7.1Total Capital £8.1

Source: Capital IQ and Company Filings.



Newmark Security plc designs, manufactures and supplies products and services for the security of assets and personnel. It operates in two segments, Electronic and Asset Protection. The Electronic segmentdesigns, manufactures and distributes access-control systems comprising hardware and software for security installation companies. The Asset Protection segment is involved in the design, manufacture, installationand maintenance of fixed and reactive security screens, reception counters, cash management systems and associated security equipment. It also engages in the service and maintenance of CCTV systems,automatic door operators, locks and other third party equipment. This segment serves banks and building societies, post offices, police forces, railway companies, local authorities and government departments,hospitals, convenience stores, retailers, blue-chip organizations and more. Newmark Security plc has operations in Europe, the United States, the Middle East and other regions. Newmark Security plc is based inLondon, the United Kingdom and was founded in 1997.

Notes: - On April 30, 2019, Newmark announced that its wholly-owned subsidiary, Safetell Limited ("Safetell"), has secured a new supply agreement for physical security equipment including time-delayed cash handlingequipment and secure cash storage units, for a major UK high street financial institution.- On April 18, 2019, Newmark Security announced that it won a $1.5 million contract extension from the UK branch network of a 'worldwide supplier of retail banking services'.

COMPANY PRESENTERS


Source: Company



Sector: Software/Security

On the internet everything authenticates. But today, most consumers are still stuck using weak and phishable passwords and other broken legacy authentication methods.

Corporations need to eliminate passwords because customers no longer tolerate either the hassle of forgotten passwords or risk to their accounts. Today’s consumers easily switch to more user-friendly services, and as security concerns continue to rise so too do global regulatory compliance requirements.

Seven years ago, the team at Nok Nok Labs saw these issues and started both a company and a movement. Today, Nok Nok is the leader in deploying passwordless authentication software solutions to industry heavyweights with millions of consumer end users, and the standard we invented, FIDO, is now the globally accepted protocol for passwordless authentication. The FIDO Alliance, which we founded, now includes more than 250 industry leading companies, government organizations, and liaison partners, and the Nok Nok patent portfolio has grown to more than 25 US patents issued, and more than 60 global patents pending.

Industry support for standards-based authentication is reaching the tipping point – and in 2019, Nok Nok customers quickly activated an increasingly larger user population to enable easier to use, stronger authentication. Development time to deployment is reduced, while ROI is increased.

The Nok NokTM S3 Authentication Suite includes server and client SDK software, in “standard” or “premium” feature sets:

• The S3 Suite Standard Edition provides features and capabilities to support FIDO specifications,

• The S3 Suite Premium Edition includes “beyond FIDO” features and capabilities such as account recovery, credential sharing, admin console, risk signals, multi-tenancy support, etc.

Nok Nok revenue is generated from licensing the Nok Nok S3 Suite, utilizing flexible pricing alternatives suitable for its wide-ranging global customers and partners – including annual subscription user-based (per user per year) and usage-based (per transaction per year) pricing models. We make more money from each customer as user adoption increases and as use cases expand.

Headquartered in Silicon Valley, the Nok Nok leadership team consists of security industry veterans from PGP, Symantec, Netscape, PayPal, Oracle & Phoenix, with deep experience in building Internet scale security protocols and software solutions.

Ownership: Nok Nok investors include venture investors - DCM Ventures, ONSET Ventures, Raven Ventures and corporate strategic investors – Lenovo (China), Motorola Solutions (US), KICA (ROK), DDS and NTT Docomo (both in Japan).



2890 Zanker Road, Suite 203 San Jose, CA 95134

(650) 433-1300www.noknok.com

Nok Nok Labs

COMPANY PRESENTERS


Source: Company



Sector: Residential Security & Home Automation Services, Data Security & Analytics

Notion is a comprehensive smart security system that increases property safety and reduces property risk. Powered by an all-in-one smart sensor and app, Notion empowers property owners to be proactive in protecting their people, spaces, and most valued possessions.

Notion’s affordable and easy-to-install system packs multiple capabilities into a single sensor, allowing property owners to monitor all aspects of their space, including activities that could lead to costly insurance claims. The multifunctional smart home sensor sends alerts to a property owner’s smartphone for the things they care about most — water leaks, smoke alarms, temperature changes and doors, garages and windows opening and closing.

For additional protection, users can add on NotionPRO, 24/7 professional monitoring by certified dispatchers. Designed with flexibility in mind, the app allows users to easily turn on and off what Notion sensors they want armed with NotionPRO with a tap of a button. At only $15/month, NotionPRO expands the protection of a property without the need of professional installation or a service contract. Property owners will never miss a critical event with escalated alerts through text messaging, phone calls, and emergency service dispatch — a holistic, two-way communication process.

Unlike traditional smart home technology and professional monitoring services, Notion works primary with partners to reach property owners. Today, Notion works with Sheltr, Travelers Insurance, Hippo Insurance, and other leading insurance carriers. Through these partner programs, Notion helps support proactive home maintenance and provide additional value with smart home technology and professional monitoring services. Notion’s user engagement and analytics enables its partners to acquire and retain customers, increase engagement, reduce claims, and offer innovative products and pricing. With unparalleled installation rates, high customer engagement, and superior customer support, Notion delivers a seamless end-to-end smart technology program for partners.

Ownership: Private

Number of Employees: <50


1530 Blake Street, Suite 220 Denver, Colorado 80202

(877) 668-4660getnotion.com

Notion

COMPANY PRESENTERS


Source: Company



Sector: Physical Security

Founded in 1957, Pelco is an American-based technology and surveillance company. They are a global leader in the design and development of video surveillance solutions, including video management and analytics software, infrastructure, cameras, and related services. From Pelco’s VideoXpert video management platform to their industry-leading selection of IP cameras and accessories, they are committed to designing and delivering a broad range of high-quality, IP video security products and systems that make the world safer. Pelco serves thousands of businesses in commercial, healthcare, education, government, ports, and more. Pelco’s video surveillance solutions offer a powerful, yet affordable way for security teams to maximize their operational efficiency while boosting safety for employees, guests, visitors, among others.

The company’s headquarters are located in Fresno, California, with more offices in Colorado and across the globe.

Ownership: Private



625 W. Alluvial Ave.Fresno, CA 93711

(559) 292-1981www.pelco.com

Pelco, Inc.

COMPANY PRESENTERS


Source: Company



Sector: Fire protection, Life Safety, Security

Potter is a leader in the fire protection and life safety industry. The Company designs and manufactures a wide variety of

mission critical, specialty electronic, electromechanical, and software products for fire and security applications. Potter is

the global leader in fire sprinkler monitoring solutions and continues to expand it range of products to serve the rapidly

growing fire alarm system market. Potter’s product offering includes sprinkler monitoring devices, nitrogen-based corrosion

prevention systems, fire alarm, voice evacuation, mass notification systems, and specialty power supplies. The Company is

headquartered in St. Louis, Missouri, with sales, engineering, and manufacturing centers throughout the U.S., Europe, and Asia.

The Company continues to be a pioneer in the life safety and security market, innovating and evolving since its founding in

1898. As Potter looks ahead toward the future, the Company is investing in the digital transformation of its core products

by implementing embedded, app, and cloud-based technologies. In 2019 Potter was recognized for the PotterNet Graphical

Monitoring Control Software, first by Security Today, which awarded the Company a prestigious “Govie Award,” and also by

Security Sales & Integration which gave the company a coveted “Most Valuable Product” (MVP) Award in the category of Fire

& Life Safety.

Potter services the market through a global network of independent systems integration partners, wholesale distributors,

and OEM partners. The Company focuses on creating innovative products that are simple to install and service with superior

reliability. For these reasons and more, Potter is recognized as a symbol of protection by designers, contractors, and building

owners and remains a leader in its field. For more information, please visit www.pottersignal.com.

Potter is a portfolio company of Gryphon Investors, a leading middle-market private equity firm based in San Francisco.

Ownership: Private



5757 Phantom Drive, #125 St. Louis, MO 63042

(314) 595-6701pottersignal.com

Potter Electric Signal Company, LLC

COMPANY PRESENTERS


Calle Santa Sabina, 8Madrid, Spain 28007

www.prosegurcash.com

Prosegur Cash, S.A. (BME:CASH) 11/6/2019

Prosegur Cash, S.A. (BME:CASH) Calle Santa Sabina, 811/6/2019 Madrid, Spain 28007

www.prosegurcash.com

Market Information as of 11/6/2019 Cap Structure (mm) 9/30/2019 Historical Financials ($mm exc per share data)Ticker BME:CASH FD Shares (Wt Avg) 1,499.0 2015 2016 2017 2018 LTM YTD 18 YTD 19Latest Close Price $1.43 Market Cap $2,140.6 Sales $1,938.4 $1,908.5 $2,173.9 $2,045.2 $2,088.2 $1,458.2 $1,502.352 Week Hi - Low $2.14 - $1.21 Total Debt $1,038.9 Gross Profit 694.5 693.9 783.5 708.5 726.2 290.3 341.6LTM Stock Performance -21.1% Cash $274.8 SG&A 329.1 303.8 338.6 352.5 1,740.1 194.7 198.3Float (Shares in mm) 410.5 Preferred - Adj. EBITDA 62.8 58.1 59.0 50.5 69.0 21.3 55.5Short Interest (as % of Float) 0.0% Minority Interest - EBIT 351.0 404.3 508.6 348.1 348.9 235.8 239.0Avg. Day Vol - 3 mos (000s) 902.5 Enterprise Value $2,904.7 Net Income 199.1 197.4 344.4 205.8 180.7 168.6 141.9Dividend/sh (latest annualized) 0.1 Book Value of Equity 303.4 Dividend yield 0.1 Tangible Book Value (264.1) CFO $305.6 $321.0 $208.0 $272.0 $306.1 $209.3 $243.0

Capex (160.9) (106.6) (77.3) (121.2) (123.8) (75.6) (78.9)Liquidity (mm) 9/30/2019 FCF 144.7 214.4 130.7 150.8 182.3 133.7 164.1Available $45.5 FCF/Share 0.1 0.1 0.1 0.1 0.1 0.1 0.1Liquidity (Available + Cash) 320.3

Source: Historical Financials from Capital IQ and Company SEC Filings and Bloomberg

Company Info Balance Sheet Metrics 9/30/2019 Performance RatiosSector Security Systems & Services Days Sales Out 98 2015 2016 2017 2018 LTM YTD 18 YTD 19Last Reported Qtr 9/30/2019 Days Inv On Hand 4.8 YoY Rev Grth 5.0% -1.3% 11.6% -10.0% 8.5% -15.2% 9.8%Currency EUR Days Payable Out 117 Gross Margin 35.8% 36.4% 36.0% 34.6% 34.8% 19.9% 22.7%Employees 58,394 Net Work Cap % of Rev 6.9% SG&A / Sales 17.0% 15.9% 15.6% 17.2% 83.3% 13.4% 13.2%Website www.prosegurcash.com Net Fixed Assets % Rev 22.1% EBITDA Margin 3.2% 3.0% 2.7% 2.5% 3.3% 1.5% 3.7%Telephone 34 915 89 84 31 Cash / Share $0.18 EBIT Margin 18.1% 21.2% 23.4% 17.0% 16.7% 16.2% 15.9%Next Earnings Date 12/31/2019 Book Value / Share $0.20 Net Margin 10.3% 10.3% 15.8% 10.1% 8.7% 11.6% 9.4%

TBV / Share ($0.18) ROIC % 82.3% 101.8% 132.7% 85.2% 57.6% 52.9% 39.5%


Interest As of Scheduled Maturities (from Latest 10K and 10Q) CapitalCapitalization Table (in mm) Coupon Expense Maturity 9/30/2019 (in mm) Debt Leases

Cash $274.8 Less Than 1 Year $1.1 $125.8Senior Notes 1.4% $9.4 Feb-26 680.1 1-3 Years 125.8 -Credit Accounts Overdraft 6.3% - Dec-19 1.1 3-5 Years 108.8 -Revolving Credit - - Feb-24 45.5 More than 5 Years 680.1 -Capital Lease Various - Various 125.8 Total $915.8 $125.8Term Loans - - - 123.1 Other Debt - - - 63.3 Total Debt $1,038.9Net Debt 764.1Preferred Equity 0.0Minority Interest - Shareholders' Equity (Book) 303.4 Total Capital $1,067.5


Prosegur Cash, S.A. ("Prosegur" or the "Company") provides cash logistics and cash management, and other outsourced services to financial institutions, retailers, government agencies and central banks, mints, jewelers, and othercommercial operations worldwide. The company’s services include local and international transport services, including pick-up, transport, safekeeping, delivery, and cash deposit services for cash and other high worth valuables,such as jewelry, art, precious metal, electronic devices, pharmaceuticals, voting cards, and judicial evidence. It also provides cash management services that include counting, processing, fitness determination, custody, and ATMreplenishment, as well as preparation and delivery of notes and coins. In addition, the company offers outsourcing services comprising retail automation through self-service cash automatization machines, including cash depositdevices, recycling and distribution of coins and notes services, and bill payment services; ATM management services, such as forecasting, monitoring, first and second level maintenance, and balancing services; and added valueoutsourced services for financial institutions, including branch forecasting, reconciliation and settlement, and credit card support services. Prosegur Cash, S.A. was incorporated in 2016 and is based in Madrid, Spain.

Notes:

- During the first nine months of the year, the Company completed 5 acquisitions for a total Enterprise Value of 70 million Euro

- New products represented 16% of total sales in first nine months of 2019

While this summary is in circulation, Imperial Capital, LLC ("IC") or its affiliates may, from time to time, make purchases or sales for their own accounts of securities of any entity. IC’s market making may constitute, in the case of equity securities and certain debt securities, standing ready to make purchases orsales of securities on a regular or continuous basis or quoting markets in debt securities. Notwithstanding IC’s market making activities as of the date hereof, while this summary is in circulation IC may begin or discontinue such market making activity for any entity. IC is a member of FINRA (www.finra.org)and SIPC (www.SIPC.org).

This summary is for informational purposes only. Under no circumstances is it to be used or considered as an offer to sell, or a solicitation of an offer to buy any security. While the information contained in this summary has been obtained from sources believed to be reliable, we do not represent or guaranteethat the summary is accurate or complete, and it should not be relied upon as such. Based on information available to us, prices in this summary are as of the date hereof. The securities mentioned in this summary involve substantial risk and should generally be purchased only by investors able to accept suchrisk.

COMPANY PRESENTERS


Calle Santa Sabina, 8Madrid, Spain 28007www.prosegur.com

Prosegur Compania de Seguridad, S.A. (BME:PSG)11/6/2019

Prosegur Compania de Seguridad, S.A. (BME:PSG) Calle Santa Sabina, 811/6/2019 Madrid, Spain 28007

www.prosegur.com

Market Information as of 11/6/2019 Cap Structure (mm) 9/30/2019 Historical Financials ($mm exc per share data)Ticker PSG FD Shares (Wt Avg) 598.7 2015 2016 2017 2018 LTM YTD 18 YTD 19Latest Close Price $3.73 Market Cap $2,234.3 Sales $4,394.9 $4,319.1 $4,847.3 $4,652.7 $4,746.7 $3,385.7 $3,480.352 Week Hi - Low $5.10 - $3.18 Total Debt 2,000.1 Gross Profit 1,035.2 1,009.8 1,164.0 1,124.1 $1,088.3 NM NMLTM Stock Performance -23.1% Cash 1,028.7 SG&A 666.0 613.5 715.0 766.1 $700.9 NM NMFloat (Shares in mm) 253.8 Preferred 0.0 Adj. EBITDA 610.7 590.9 689.2 619.2 534.6 430.5 346.3 Short Interest (as % of Float) 0.0% Minority Interest 95.1 EBIT 472.9 462.0 542.9 436.6 366.3 300.5 155.7 Avg. Day Vol - 3 mos (000s) 526.1 Enterprise Value 3,300.8 Net Income 203.5 148.5 169.9 156.2 112.1 139.0 93.2 Dividend/sh (latest annualized) 0.1 Book Value of Equity 1,067.5 Dividend yield 0.03 Tangible Book Value 25.9 CFO $337.8 $300.4 $319.7 $335.9 $339.9 $187.0 $206.6

Capex (137.2) (167.4) (210.9) (225.7) (245.2) (167.2) (160.5) Liquidity (mm) 9/30/2019 FCF 200.6 133.0 108.8 110.2 94.7 19.8 46.1Available $110.9 FCF/Share 0.3 0.2 0.2 0.2 0.2 0.0 0.1Liquidity (Available + Cash) 1,139.6

Source: Historical Financials from Capital IQ and Company SEC Filings and Bloomberg

Company Info Balance Sheet Metrics 9/30/2019 Performance RatiosSector Security Systems & Services Days Sales Out 91 2015 2016 2017 2018 LTM YTD 18 YTD 19Last Reported Qtr 9/30/2019 Days Inv On Hand 8 YoY Rev Grth 4.7% -1.4% 10.0% -8.2% 6.9% -11.2% 9.5%Currency EUR Days Payable Out 91 Gross Margin 23.6% 23.4% 24.0% 24.2% 22.9% NM NMEmployees 10 Net Work Cap % of Rev 5.9% SG&A / Sales 15.2% 14.2% 14.8% 16.5% 14.8% NM NMWebsite www.prosegur.com Net Fixed Assets % Rev 19.1% EBITDA Margin 13.9% 13.7% 14.2% 13.3% 11.3% 12.7% 10.0%Telephone 34 915 89 83 47 Cash / Share $1.72 EBIT Margin 10.8% 10.7% 11.2% 9.4% 7.7% 8.9% 4.5%Next Earnings Date 12/31/2019 Book Value / Share $1.78 Net Margin 4.6% 3.4% 3.5% 3.4% 2.4% 4.1% 2.7%

TBV / Share $0.04 ROIC % 74.5% 55.4% 61.6% 49.0% 30.9% 27.7% 13.1%


Interest As of Scheduled Maturities (from Latest 10K and 10Q) CapitalCapitalization Table (in mm) Coupon Expense Maturity 9/30/2019 (in mm) Debt Leases

Cash $1,028.7 Less Than 1 Year $16.4 -Uncovered Bonds 1.4% 9.42 Feb-26 682.7 1-3 Years 295.9 $163.1Uncovered Bonds 1.0% 7.97 Feb-23 796.5 3-5 Years 842.0 -Revolving Credit 5.8% 0.64 Dec-19 10.9 More than 5 Years 682.7 -Revolving Credit - - Dec-19 5.5 Total $1,837.0 $163.1Revolving Credit - - Feb-24 45.5Revolving Credit - - Apr-20 49.0Capital Lease 1.2% 0.05 - 4.5Capital Lease 11.1% 0.44 - 4.0Capital Lease - - - 6.9Capital Lease - - - 147.7Term Loans - - - 127.2Other Debt - - - 119.7Total Debt $2,000.1Net Debt $971.4Preferred Equity 0.0Minority Interest 95.1Shareholders' Equity (Book) 1,067.5Total Capital $2,134.0


Prosegur Compañía de Seguridad, S.A. operates in the private security sector in Europe, Asia-Oceania-Africa, and Ibero-America. The company operates through Security, Cash, and Alarms segments. The Security segment offers control center,global risk advisory, and consulting services; CCTV and video processing and management, access control, intrusion detection, fire protection, interphones and PA, integrated security, and fleet tracking systems, as well as maintenance services; on-site manned guarding, mobility, personal protection, indoor geolocation, cargo tracking, and goods in transit custody services; and legal assistance, inventories and logistic processes, receptionists, telephone operators, concierges, and eventsservices. It also provides cybersecurity solutions comprising managed and digital security, audits and ethical hacking, and consulting. The Cash segment offers securities logistics and cash management, and outsourcing services for the banking and distribution sectors. The Alarms segment installs and maintains home alarms, as well as provides alarm monitoring services for families and businesses. The company was founded in 1976 and is headquartered in Madrid, Spain. ProsegurCompañía de Seguridad, S.A. is a subsidiary of Gubel, S.L.

Notes:

- During the first nine months of the year, the Company completed 5 acquisitions for an accumulated Enterprise Value of 70 million Euro

- New products represented 16% of total sales in first nine months of 2019

While this summary is in circulation, Imperial Capital, LLC ("IC") or its affiliates may, from time to time, make purchases or sales for their own accounts of securities of any entity. IC’s market making may constitute, in the case of equity securities and certain debt securities, standing ready to make purchases or sales of securities on aregular or continuous basis or quoting markets in debt securities. Notwithstanding IC’s market making activities as of the date hereof, while this summary is in circulation IC may begin or discontinue such market making activity for any entity. IC is a member of FINRA (www.finra.org) and SIPC (www.SIPC.org).


COMPANY PRESENTERS


Source: Company



Sector: Wholesale Central Station

Rapid Response is a leader in professional monitoring services, providing audio, video, GPS, PERS/mPERS, lone worker,

mobile personal, IoT connected devices, residential and commercial protection. We also specialize in response to escalation

trends and parameter exceptions and our response teams are rigorously trained Security Industry Association (SIA) certified

specialists. Our in-house Software Development Team is focused on the development of customized Dealer and Customer

mobile apps and implementation of new service offerings for our Dealers, having interfaced with 30+ leading technologies in

just the past 12 months.

Since 1992, Rapid Response Monitoring has been committed to having the most qualified, extensively trained personnel and

the most advanced technologies available with the purpose of providing our Dealers and their customers with the very best

monitoring services. Our mission is to protect lives and property and to ensure the safety and welfare of employees and

families nationwide and internationally. No other monitoring provider in the industry has invested more resources in pursuit

of this mission.

Today, Rapid Response has 2,800 Dealers, monitors over 1.6 million subscriber accounts, and is experiencing strong growth

while consistently exceeding the most stringent industry standards. These include UL and FM certification for our monitoring

centers, Department of Defense certification and approval, FDNY certification and more. Rapid Response is additionally

licensed in every state that requires a license for monitoring.

Our headquarters facility was recently expanded to 75,000 square feet to add even more advanced technologies and employee

focused amenities. Our West Coast full-load facility is 35,000 square feet, providing further redundancy and an advanced

platform for our continued growth. Our enhanced monitoring centers are custom designed, maintained to exceed all industry

standards and provide the ideal work environment for our employees to serve our Dealers and their customers.

If you require a response to escalation trends, parameter exceptions or emergency conditions look no further than Rapid

Response Monitoring.

Ownership: Private



400 West Division St.Syracuse, NY 13204

(800) 558-7767www.rrms.com

Rapid Response Monitoring Services, Inc.

COMPANY PRESENTERS


Source: Company



Sector: Emergency Technology

RapidSOS is an advanced emergency technology company, providing a rich data link from any connected device or monitoring

platform to 911 and first responders. Developed over seven years in partnership with 70+ public safety technology providers

and 4,000+ first responders, RapidSOS’ Emergency Platform provides a data transmission and analytics engine embedded in

most major public safety software systems.

RapidSOS connects 250M+ devices to 3,500+ public safety agencies covering 90%+ of the U.S. population, managing

approximately 150M emergencies annually in collaboration with major technology companies including Apple, Google, Uber,

Microsoft, and Waze.

RapidSOS was founded in 2013 and has raised over $85 million in funding, backed by several top venture capital firms and

current or former leadership of Apple, AT&T, Verizon, Vodafone, Lucent, MIT, Harvard, Raytheon, and the FCC.

RapidSOS Security Offerings

RapidSOS is developing multiple products for the security sector including:

• Central station alarm verification (video, surrounding event feeds from PSAP/social media)

• Front-end user verification (video, app push, text, automated call)

• AI-assisted verification

• Automated PSAP communication and response

Ownership: Privately held



3 Park Ave.New York, NY 10016www.rapidsos.com

RapidSOS

COMPANY PRESENTERS


Source: Company



Sector: Video Surveillance & Cyber Security

The Mission of Razberi Technologies is to make it simple for enterprise companies to deploy, manage and cybersecure video

surveillance and IoT systems.

A typical video surveillance system is comprised of three main components: IP cameras, video management software, and IT/

networking hardware and software. Customers that install video surveillance and IoT systems today run into four significant

issues:

1. Surge of bandwidth & video storage needs

2. Cyber vulnerability in the video cameras and IoT devices

3. Costly, complex installation and maintenance

4. Lack of skilled technical workers to perform the work

The current approach to solving these problems is to use highly skilled resources to deploy a combination of off-the-shelf

IT and networking components, such as switches, servers, storage, and software. This approach requires multiple hardware

components, is not optimized for video, does not effectively address cyber threats, and is difficult to manage once installed.

Razberi has developed an award-winning family of intelligent video surveillance appliances, automated cybersecurity software,

and health monitoring software that addresses all four industry issues to:

1. Reduce costs through bandwidth & storage optimization

2. Reduce the risk of being hacked by providing strengthened cybersecurity

3. Reduce the time to identify & resolve issues, with fewer truck rolls

4. Reduce the resources required to install and manage the system

Razberi is based in Dallas, Texas and is growing rapidly.

Ownership: Private



13755 Hutton Drive, Suite 500 Farmers Branch, Texas 75234

(469) 828-3380www.razberi.net

Razberi Technologies

COMPANY PRESENTERS


Source: Company



Sector: Cloud-Based Access Control

RemoteLock is the first cloud platform for wireless locks that controls smart locks and access systems directly from the internet.

Also, as a leading provider of cloud-based access control software, it’s easy-to-use SaaS application enables customers to

remotely control access, for guests, employees, and staff, saving time, money and manpower. With pre-built integrations to

multiple industry software companies in the vacation rental, multi-family and commercial markets, RemoteLock opens doors

across the world more than 100+million times per year, secures doors in more than 65 countries and engages with more than

40+ million users on its EdgeState software application each year.

RemoteLock is headquartered in Denver, CO and is backed by KKE, Iron Gate Capital, Nelnet, and Service Provider Capital.

Ownership: Private



2170 S. Delaware Street Denver, CO 80223

(877) 254-5625www.remotelock.com

RemoteLock, Inc.

COMPANY PRESENTERS


901 East 6th StreetAustin, Texas 78702

www.resideo.com

Resideo Technologies, Inc. (REZI)11/11/2019

Resideo Technologies, Inc. (NYSE: REZI) 901 East 6th StreetAustin, Texas 78702

www.resideo.com

Market Information as of 11/11/2019 Cap Structure (mm) 9/30/2019 Historical Financials ($mm exc per share data)Ticker REZI FD Shares (Wt Avg) 123.4 2016 2017 2018 LTM YTD 18 YTD 19Latest Close Price $9.02 Market Cap(1) $1,113.1 Sales $4,455.0 $4,519.0 $4,827.0 $4,950.0 $3,561.0 $3,684.052 Week Hi - Low $26.40 - $8.60 Total Debt $1,253.0 Gross Profit 1,365.0 1,316.0 1,366.0 1,228.0 1,036.0 898.0LTM Stock Performance -58.9% Cash $132.0 SG&A 870.0 871.0 873.0 937.0 648.0 712.0Float (Shares in mm) 122.6 Preferred - Adj. EBITDA 390.0 254.0 535.0 441.0 457.0 363.0Short Interest (as % of Float) 7.2% Minority Interest - EBIT 310.0 166.0 124.0 (78.0) 388.0 186.0Avg. Day Vol - 3 mos (000s) 1,619.3 Enterprise Value $2,234.1 Net Income 177.0 (394.0) 405.0 61.0 389.0 45.0Dividend/sh (latest annualized) - Book Value of Equity $1,573.0Dividend yield - Tangible Book Value ($1,184.0) CFO $151.0 $37.0 $462.0 $17.0 $375.0 ($70.0)

Capex (60.0) (49.0) (64.0) (67.0) (63.0) (66.0)Liquidity (mm) 9/30/2019 FCF 91.0 (12.0) 398.0 (50.0) 312.0 (136.0)Available $290.0 FCF/Share 0.74 (0.10) 3.23 (0.41) 2.53 (1.10)Liquidity (Available + Cash) 422.0(1)As of 11/11/2019. Source: Historical Financials from Capital IQ and Company SEC Filings.

Company Info Balance Sheet Metrics 9/30/2019 Performance RatiosSector Security Systems & Services Days Sales Out 60 2016 2017 2018 LTM YTD 18 YTD 19Last Reported Qtr 9/30/2019 Days Inv On Hand 66 YoY Rev Grth 7.2% 1.4% 6.8% 3.8% 7.6% 3.5%Currency USD Days Payable Out 86 Gross Margin 30.6% 29.1% 28.3% 24.8% 29.1% 24.4%Employees 13,000 Net Work Cap % of Rev 5.5% SG&A / Sales 19.5% 19.3% 18.1% 18.9% 18.2% 19.3%Website www.resideo.com Net Fixed Assets % Rev 8.8% EBITDA Margin 8.8% 5.6% 11.1% 8.9% 12.8% 9.9%Telephone 763 954 5204 Cash / Share $1.07 EBIT Margin 7.0% 3.7% 2.6% NM 10.9% 5.0%Next Earnings Date 11/7/2019 Book Value / Share $12.75 Net Margin 4.0% NM 8.4% 1.2% 10.9% 1.2%

TBV / Share ($9.59) ROIC % 76.7% 36.5% 32.9% -11.0% 107.8% 26.2%


Interest As of Scheduled Environmental Indemnity Purchase Operating InterestCapitalization Table (in mm) Coupon Expense Maturity 9/30/2019 Maturities (in mm) (1) Liability Payments Obligations Debt(2) Leases Payments

Cash $132.0 Less Than 1 Year $2.0 $140.0 $286.0 $22.0 $39.0 $69.0Revolving Credit Facility Varies N/A Dec-23 60.0 1-3 Years 3.0 280.0 477.0 62.0 61.0 135.0Term Loan A Varies N/A Dec-23 341.0 3-5 Years 3.0 196.0 - 289.0 37.0 124.0Term Loan B Varies N/A Dec-25 473.0 More than 5 Years 12.0 - - 852.0 17.0 117.0 6.125% Notes 6.1% 24.5 Dec-26 400.0 Total $20.0 $616.0 $763.0 $1,225.0 $154.0 $445.0 Less: Unamortized debt discounts (21.0)Total Debt $1,253.0Net Debt 1,121.0Preferred Equity - Minority Interest - Shareholders' Equity (Book) 1,573.0Total Capital $2,826.0

(1) From latest 10K.Source: Capital IQ and Company SEC Filings. (2) Debt scheduled maturities does not factor in unamortized debt discounts.

11/11/2019

This summary is for informational purposes only. Under no circumstances is it to be used or considered as an offer to sell, or a solicitation of an offer to buy any security. While the information contained in this summary has been obtained from sources believed to be reliable, we do not represent orguarantee that the summary is accurate or complete, and it should not be relied upon as such. Based on information available to us, prices in this summary are as of the date hereof. The securities mentioned in this summary involve substantial risk and should generally be purchased only byinvestors able to accept such risk.


Resideo Technologies, Inc. (“Resideo” or the “Company”) provides critical comfort, thermal, and security solutions primarily in residential environments in the United States, Europe, and internationally. The companyoperates in two segments, Products and Solutions, and Global Distribution. It offers home products, services, and technologies, including temperature and humidity control, water, air, remote patient monitoring software,and software solutions; and residential thermal solutions, such as boiler products, storage gas water heating solutions, ducted solutions, and thermal adjacency solutions. Resideo Technologies, Inc. was incorporated in2018 and is based in Austin, Texas.

Notes:- On October 22, 2019, Resideo Technologies, Inc. (NYSE: REZI) announced that Robert (Bob) Ryder has been named interim chief financial officer, effective Nov. 7, 2019. Bob will succeed Joseph Ragan, who is leavingthe company on Nov. 6, 2019. Ryder previously served as CFO of Constellation Brands.- On September 23, 2019, Resideo and Powersetter, a leader in smart home energy automation, announced a strategic partnership to offer consumers energy efficiency. PowerSetter is working with Resideo to give itscustomers a $50 rebate on Resideo’s complete line of EnergyStar® thermostats, including Resideo’s Honeywell Home™ T9 and T10 Pro smart thermostats.

COMPANY PRESENTERS


Source: Company



Sector: Cyber Security, Compliance, Digital Transformation

Main Services: RMail® email encryption and more. RSign® advanced e-signatures.

We’re not just securing email and e-signing. We’re providing technology that improves security and transforms critical business operations. Our solutions are often packaged as part of HealthTech, FinTech, and LegalTech initiatives, helping companies transform their operations. Better security, simpler compliance, and automated processes using encryption, e-sign and certified e-delivery proof; we’ve been doing this with our patented technologies the world over for more than a decade.

• HealthTech: For health care providers large and small, we are not only providing simple-to-use secure e-mail and e-document exchanges, but also returning audit-ready proof of privacy compliance (HIPAA, CCPA, PII, GDPR, etc.) on a message-by-message basis. For others, we solve secure communications challenges that involve delivery of health, safety, prescription, patient, and medical disclosures securely, all the while managing e-signatures and complex digital forms workflows. And we’ve been doing this for some of the largest life sciences companies of all types, worldwide.

• FinTech: For financial service and insurance providers, we are not only making it easier to secure client communications to protect against threats and assure privacy compliance, but also improving their lending, trading, investment management, and insurance operations by providing e-signatures and certified e-delivery proof for notices of assignment, investment disclosures, over-the-counter trade confirms, and wholesale rate change notices. And we’ve been doing this with some of the largest oil, telecom and financial services trading and exchange operations for years.

• LegalTech: For law firms, we are not only providing specific value unique to different law practice areas; whether information privacy well suited for estate planners, or proof of who said what when for litigators, but also helping corporate and government law departments modernize legal notification processes that require an electronic certified record for proof of e-delivery, content delivered and timestamp for each individually sent contractual or legal notice.

RPost markets in two channels, Direct and Wholesale; with high growth recurring revenue and positive EBITDA.

• RPost Direct has strong customer satisfaction ratings creating a highly predictable recurring revenue stream with more than 99% average renewals (churn <1%, monthly), LTV/CAC (lifetime value/customer acquisition cost) ratios in customer segments range from 3.2 (single/home office) to 11.2 (enterprise).

• RPost Wholesale has its multi-tier software distribution channels in the United States, Europe, Oceana, and Latin America. Some of the distribution partners include the world’s largest technology distributors including Ingram Micro.

We have received accolades and awards across industry. RMail was Winner of the World Mail Award for Best in Security;

RSign was named top five e-sign service worldwide, top scores in several categories (Forrester Research E-Signature Wave).

Ownership: Private Investors


Annual Revenues: Private company, revenue not disclosed publicly. EBITDA positive.

6033 West Century Blvd. Suite 1278Los Angeles, CA 90045

(310) 342-0088www.rpost.com

RPost

COMPANY PRESENTERS


Source: Company



Sector: Video Management

Salient is a leading provider of comprehensive enterprise video surveillance management systems. Salient Security Platform

provides a full range of applications for unmatched scalability, a fully open architecture, ease of use, and the lowest total cost

of ownership.

CompleteView 20/20, Salient’s next-generation video management platform, represents the latest innovation in intelligent

security. With Salient’s robust and flexible UI, users can manage and administer enterprise security solutions up to 30% faster.

Superior command and control tools, seamless third-party integrations, and advanced analytics enable Salient’s extensive

management solution to meet security needs – today and tomorrow.

Take advantage of:

• GeoView - supports both satellite and image-based maps to provide flexible map management.

• Automatic Map Switching - enables operators to switch a camera and map view in relation to the monitored facility.

• Advanced Remote Investigations - accelerated playback and search.

• Custom Tabs - creates tabs for individual cameras and view layouts for instant access.

• Global Text Search - instant key word search of events, cameras, views, and servers.

• Advanced Video Analytics and AI Technology for Threat Detection.

As customer demand and behavior drive digital transformation, video technologies become increasingly important. Leveraging

intelligent video technology to mitigate risk, improve services delivery, and drive positive business outcomes are cornerstones

of the Salient Security Platform. Industries such as retail, banking, education, manufacturing, and more trust Salient to deliver

advanced solutions.

Ownership: Private


Annual Revenues: Privately Held Company, Annual Revenue not shared publicly.

4616 West Howard Lane, Building 1, Suite 100 Austin, Texas, 78728

(512) 617-4800www.salientsys.com

Salient Systems

COMPANY PRESENTERS


7979 Gateway Boulevard Suite 210Newark, CA 94560

www.shotspotter.com

ShotSpotter, Inc. (SSTI) 11/14/2019

ShotSpotter, Inc. (SSTI) 7979 Gateway Boulevard Suite 21011/14/2019 Newark, CA 94560

www.shotspotter.com

Market Information as of 11/14/2019 Cap Structure (mm) 9/30/2019 Historical Financials ($mm exc per share data)Ticker SSTI FD Shares (Wt Avg) 11.7 2015 2016 2017 2018 LTM YTD 18 YTD 19Latest Close Price $20.34 Market Cap $238.4 Sales $11.8 $15.5 $23.8 $34.8 $39.5 $25.0 $29.852 Week Hi - Low $58.61 - $18.44 Total Debt $0.0 Gross Profit 3.5 6.0 12.4 19.9 23.2 14.3 17.5LTM Stock Performance -47.4% Cash $27.4 SG&A 5.6 6.8 11.8 16.6 16.8 13.0 13.2Float (Shares in mm) 6.7 Preferred - Adj. EBITDA (3.2) (2.4) (0.4) 2.0 4.0 0.3 5.0Short Interest (as % of Float) 32.3% Minority Interest - EBIT (5.5) (5.0) (3.5) (1.7) 1.1 (2.4) 0.3Avg. Day Vol - 3 mos (000s) 172.0 Enterprise Value $211.0 Net Income (6.2) (6.9) (10.0) (2.7) 0.8 (3.0) 0.5Dividend/sh (latest annualized) - Book Value of Equity $28.2Dividend yield - Tangible Book Value $26.5 CFO ($3.5) $2.3 $3.4 ($1.4) $7.3 $2.5 $11.2

Capex (2.2) (4.5) (6.4) (8.4) (4.7) (7.4) (3.7)Liquidity (mm) 9/30/2019 FCF (5.7) (2.2) (3.0) (9.8) 2.6 (4.9) 7.5Available $0.0 FCF/Share (0.5) (0.2) (0.3) (0.8) 0.2 (0.4) 0.6Liquidity (Available + Cash) 27.4

Source: Historical Financials from Capital IQ and Company SEC Filings

Company Info Balance Sheet Metrics 9/30/2019 Performance RatiosSector Security Systems & Services Days Sales Out 65 2015 2016 2017 2018 LTM YTD 18 YTD 19Last Reported Qtr 9/30/2019 Days Inv On Hand - YoY Rev Grth 0.0% 31.5% 53.2% 46.2% 25.3% 45.2% 19.1%Currency USD Days Payable Out 34 Gross Margin 29.6% 38.4% 52.2% 57.3% 58.7% 56.9% 58.8%Employees 96 Net Work Cap % of Rev -43.4% SG&A / Sales 47.9% 44.1% 49.5% 47.8% 42.5% 51.8% 44.1%Website www.shotspotter.com Net Fixed Assets % Rev 43.5% EBITDA Margin NM NM NM 5.8% 10.1% 1.2% 16.8%Telephone 510-794-3100 Cash / Share $2.34 EBIT Margin NM NM NM NM 2.7% NM 1.2%Next Earnings Date 11/12/2019 Book Value / Share $2.40 Net Margin NM NM NM NM 2.0% NM 1.6%

TBV / Share $2.26 ROIC % NM 191.8% 73.3% NM 3817.9% 162.7% NM


Interest As of Scheduled Maturities (from Latest 10K and 10Q) OperatingCapitalization Table (in mm) Coupon Expense Maturity 9/30/2019 (in mm) Leases

Cash $27.4 Less Than 1 Year $0.1Total Debt $0.0 1-3 Years 0.7Net Debt (27.4) 3-5 Years -Preferred Equity - More than 5 Years -Minority Interest 0.0 Total $0.7Shareholders' Equity (Book) 28.2Total Capital $0.8


ShotSpotter, Inc. ("ShotSpotter" or the "Company") provides precision-policing and security solutions for law enforcement and security personnel in the United States and South Africa. Its solutions include ShotSpotterFlex, a public safety solution, which serves cities and municipalities to identify, locate, and deter gun violence by incorporating a real-time gunshot detection system into their policing systems; and ShotSpotter Missions, acloud-based patrol management solution to help police departments plan patrol missions and tactics for crime deterrence. The Company also provides ShotSpotter SecureCampus that helps the law enforcement andsecurity personnel serving universities, colleges, and other educational institutions to mitigate risk and enhance security by notifying authorities and first responders of an active-shooter. In addition, it offers ShotSpotterSiteSecure, which serves customers, such as corporations to safeguard their facilities; and public agencies focused on protecting critical infrastructure, including train stations, airports, and freeways. The Company sells itssolutions through its direct sales teams. ShotSpotter, Inc. was founded in 1996 and is headquartered in Newark, California.

Notes:- On September 24, 2019, ShotSpotter announced that the U.S. Patent and Trademark Office granted its patent entitled "Systems and Methods Involving Creation and/or Utilization of Image Mosaics in Classification ofAcoustic Events," a major milestone in machine learning accuracy for its gunshot detection technology.

- On June 25, 2019, Ralph Clark, CEO of ShotSpotter, received the 2019 Entrepreneur of the Year Award in Northern California. As the world’s most prestigious business awards program for entrepreneurs, EntrepreneurOf The Year recognizes business leaders who are excelling in areas such as innovation, financial performance and personal commitment to their businesses and communities, while also transforming our world.


This summary is for informational purposes only. Under no circumstances is it to be used or considered as an offer to sell, or a solicitation of an offer to buy any security. While the information contained in this summary has been obtained from sources believed to be reliable, we do not represent orguarantee that the summary is accurate or complete, and it should not be relied upon as such. Based on information available to us, prices in this summary are as of the date hereof. The securities mentioned in this summary involve substantial risk and should generally be purchased only byinvestors able to accept such risk.

COMPANY PRESENTERS


Source: Company



Sector: Security Monitoring

Software:

SureView Systems develops software to manage and respond to security events by creating an intuitive, easy to use software

integration platform. Whether it’s to protect a customer’s facilities, assets and people or an in-house facility, SureView’s mission

has always been the same: to provide a common platform connecting different systems. The software is called Immix, which

means to mix, and the product now integrates with over 500 of the top security products and systems in the market.

Products:

Two versions of Immix are sold to two distinct markets:

Immix CS (Central Station)

Immix CS is sold to commercial Central Stations offering a service to end users. Immix has become the de facto product in

the space and is used by over 200 customers worldwide from over 35 different countries. The preponderance of customers is

in Europe and the US with the numbers roughly equally divided. Increasingly,the product is also seen as an ‘engine’ on which

to base growth programs, and the investment community has shown a willingness to build the adoption of Immix into its

investment and acquisition plans. As the customer base grows, it becomes increasingly likely any acquisition or disposal will

be to another Immix customer, thus reducing the cost of consolidation.

Immix CC (Command Center)

Immix CC is sold to businesses and organizations running their own Control Rooms and Command Centers. While the client

server architecture adopted by other providers in the space (commonly referred to as PSIM) is well suited to single locations

and campus operations, the cloud-based architecture of immix also supports commercial organizations, where scalability,

networked operation and federated architectures are commonplace. Most Commercial organizations fit this model and

accordingly this is the target market space for Immix CC.

Ownership: Private



400 N. Ashley Dr.Tampa, FL 33602

www.sureviewsystems.com

SureView Systems

COMPANY PRESENTERS


Source: Company



Sector: IoT Software – Security and Mobile Access Control Platform Technology

UniKey is focused on simplifying access to the world, by making the phone your key. With a platform-based go-to-market

strategy, by way of partnering with large lock and access control companies, UniKey is the ‘key’ to mass-market proliferation

of mobile key technology. UniKey brings the technology, team and time-to-market, while our partners bring top brands,

manufacturing and distribution capabilities. Together, this strategy has generated a market leading 3.5 million electronic keys,

that have been used over 400 million times in 65 countries. With 52% of Fortune 500 companies having gone bankrupt, being

acquired, or ceasing to exit in the last 20 years as a result of digital disruption, UniKey accelerates large lock and access control

companies’ ability to deliver digital solutions. With global mobile credentials forecast to increase at a CAGR exceeding 100%

from 2017-2022, mobile access represents a massive opportunity, and necessary strategy, for all companies in the access

control space. UniKey has 21 partners spanning the three major verticals of home, office and car, including partnerships with

top brands such as Kwikset, Honeywell, Nortek, ERA, Amesbury Truth, Endura, pdk and PlascoID.

Ownership: Samsung Ventures, CBRE, Asset Management Ventures, ffVC, BridgeBank



111 W. Jefferson St. Suite 100Orlando, FL 32801

(407) 434-1KEYwww.unikey.com

UniKey Technologies Inc.

COMPANY PRESENTERS


Scottsdale Quarter Suite H300 15147 North Scottsdale Road

Scottsdale, AZ 85254www.uei.com

Universal Electronics Inc. (UEIC)11/14/2019Universal Electronics Inc. Scottsdale Quarter Suite H300 15147 North Scottsdale Road11/12/2019 Scottsdale, AZ 85254

www.uei.com

Market Information as of 11/12/2019 Cap Structure (mm) 6/30/2019 Historical Financials ($mm exc per share data)Ticker UEIC FD Shares (Wt Avg) 14.1 2015 2016 2017 2018 LTM YTD 18 YTD 19Latest Close Price $53.98 Market Cap $710.9 Sales $602.8 $651.4 $695.8 $680.2 $731.1 $327.2 $378.152 Week Hi - Low $54.04 - $23.29 Total Debt $95.0 Gross Profit 166.7 164.1 169.5 146.7 156.6 64.0 73.9LTM Stock Performance 64.9% Cash $49.6 SG&A 112.5 112.4 127.1 120.4 121.7 60.8 62.2Float (Shares in mm) 13.3 Preferred - Adj. EBITDA 62.8 58.1 59.0 50.5 69.0 21.3 55.5Short Interest (as % of Float) 4.8% Minority Interest - EBIT 36.1 31.9 21.0 2.5 9.2 (9.0) (2.3)Avg. Day Vol - 3 mos (000s) 88.3 Enterprise Value $756.3 Net Income 29.2 20.4 (10.3) 11.9 (16.2) 22.1 (6.1)Dividend/sh (latest annualized) - Book Value of Equity $260.9Dividend yield - Tangible Book Value $190.4 CFO $26.1 $49.5 $9.2 $12.9 $37.0 ($3.9) $20.2

Capex (47.6) (42.6) (51.2) (22.7) (19.4) (14.7) (10.1)Liquidity (mm) 6/30/2019 FCF (21.5) 6.9 (42.0) (9.8) 17.6 (18.6) 10.1Available $35.0 FCF/Share (1.5) 0.5 (3.0) (0.7) 1.2 (1.3) 0.7Liquidity (Available + Cash) 84.6

Source: Historical Financials from Capital IQ and Company SEC Filings.

Company Info Balance Sheet Metrics 6/30/2019 Performance RatiosSector Security Systems & Services Days Sales Out 85 2015 2016 2017 2018 LTM YTD 18 YTD 19Last Reported Qtr 6/30/2019 Days Inv On Hand 94 YoY Rev Grth 7.2% 8.1% 6.8% -2.2% 6.9% -3.5% 15.5%Currency USD Days Payable Out 73 Gross Margin 27.7% 25.2% 24.4% 21.6% 21.4% 19.5% 19.5%Employees 3,707 Net Work Cap % of Rev 20.3% SG&A / Sales 18.7% 17.3% 18.3% 17.7% 16.6% 18.6% 16.4%Website www.uei.com Net Fixed Assets % Rev 15.6% EBITDA Margin 10.4% 8.9% 8.5% 7.4% 9.4% 6.5% 14.7%Telephone 480-530-3000 Cash / Share $3.53 EBIT Margin 6.0% 4.9% 3.0% 0.4% 1.3% NM NMNext Earnings Date 12/31/2019 Book Value / Share $18.56 Net Margin 4.8% 3.1% NM 1.8% NM 6.7% NM

TBV / Share $13.54 ROIC % 19.3% 15.0% 8.1% 1.0% 3.5% -3.5% -0.9%


Interest As of Scheduled Maturities (from Latest 10K and 10Q) OperatingCapitalization Table (in mm) Coupon Expense Maturity 6/30/2019 (in mm) Leases Debt

Cash $49.6 Less Than 1 Year $6.1 $95.0Revolving Credit Facility 3.84% 3.64 Nov-20 95.0 1-3 Years 12.6 -Total Debt $95.0 3-5 Years 5.9 -Net Debt 45.4 More than 5 Years 3.2 -Preferred Equity 0.0 Total $27.8 $95.0Minority Interest 0.0Shareholders' Equity (Book) 260.9Total Capital $306.3


Universal Electronics Inc. ("Universal" or the "Company") is the worldwide leader in universal control and sensing technologies for the smart home. Its broad portfolio of patents includes QuickSet® software that utilizes the world’s most completeknowledge graph to detect and interact with thousands of entertainment and smart home devices. The Company designs, develops, and manufactures innovative products that are used by the world’s leading brands in the audio, video, subscriptionbroadcasting, connected home, home energy management, and mobile device markets. Universal’s many first-to-market innovations have helped transform the home entertainment control, home security, and home energy management and sensingindustries. The Company was founded in 1986 and is headquartered in Scottsdale, Arizona.

Notes:- On July 24, 2019, Universal Electronics Inc. priced for $23.86 million in initial public offering of 1.2 million shares at a price of $19.89 per share

While this summary is in circulation, Imperial Capital, LLC ("IC") or its affiliates may, from time to time, make purchases or sales for their own accounts of securities of any entity. IC’s market making may constitute, in the case of equity securities and certain debt securities, standing ready to make purchases or sales of securities on aregular or continuous basis or quoting markets in debt securities. Notwithstanding IC’s market making activities as of the date hereof, while this summary is in circulation IC may begin or discontinue such market making activity for any entity. IC is a member of FINRA (www.finra.org) and SIPC (www.SIPC.org).


COMPANY PRESENTERS


Source: Company



270 3rd St.Los Altos, CA 94022

(650) 564-5100www.varmour.com

Sector: Multi-Cloud Security

vArmour is the leader in centralized risk and control. Hundreds of companies worldwide rely on the vArmour Application Controller to consistently and effectively apply security controls across hybrid clouds, reduce the attack surface, and maintain continuous compliance. Since launching in 2011, vArmour’s technological innovations has resulted in the company amassing 36 patents focused on helping security teams protect what’s most important: their data.

The adoption of cloud has transformed business into interconnected digital enterprises, with the majority of companies taking a multi-cloud approach to IT infrastructure. While the transition to cloud has resulted in efficiencies around cost, scale, and agility, it also exponentially increases an enterprise’s attack surface and as a result of the magnitude of new relationships that must be secured. Across an enterprise’s multi-cloud infrastructure are thousands of workloads, with each workload having tens of thousands of relationships. Simple math shows security teams now have hundreds of thousands of relationships to secure. With pre-cloud security technologies being blind to relationships, security teams are simply ill-equipped to deal with modern sophisticated attacks.

vArmour’s Application Controller product, powered by its Security Graph technology, is powerful in helping enterprises gain a clearer picture of relationships and how workloads are interconnected. Coupled with an SDK, the Security Graph technology helps cloud and security teams address blast radius risks inherent in multi-cloud environments. By streaming cloud, network, and agent information into the Security Graph, enterprises gain a centralized understanding of application relationships across their multi-cloud infrastructure, enabling centralized risk and policy management that is simple, accurate, and secure. vArmour’s easy integration with existing IT and security infrastructure -- cloud platforms (including public, private, SDN, and containers), agents doing patching, EDR solutions, vulnerability tools, IAM solutions -- enables enterprises to unlock more value out of the investments they’ve already made.

Ultimately, vArmour helps security teams solve critical problems they are facing today in their multi-cloud environments:

• Vulnerability Reduction – Determine if and where the enterprise is vulnerable

• Monitor Detect – Determine if they are being attacked

• Incident Response – Enable enterprises to remediate faster

• Manage Compliance – Provide continuous compliance by determining when and how applications are processing sensitive data

Ownership: Private



vArmour

COMPANY PRESENTERS


175 Broadhollow Road, Suite 100Melville, NY 11747

United Stateswww.verint.com

Verint Systems Inc. (VRNT)

12/5/2019

Verint Systems Inc. (VRNT) 175 Broadhollow Road, Suite 10012/5/2019 Melville, NY 11747

United Stateswww.verint.com

Market Information as of 12/5/2019 Cap Structure (mm) 10/31/19 Historical Financials ($mm exc per share data)Ticker NasdaqGS:VRNT FD Shares (Wt Avg) 67.5 2017 2018 2019 LTM YTD 18 YTD 19Latest Close Price $51.09 Market Cap (1) $3,446.1 Sales $1,062.1 $1,135.2 $1,229.7 $1,294.7 $899.5 $964.452 Week Hi - Low $63.94 - $39.96 Total Debt $815.4 Gross Profit 639.5 688.4 780.5 840.2 560.8 620.5LTM Stock Performance 17.9% Cash $426.8 SG&A 622.1 639.8 666.3 737.2 490.1 561.0Float (Shares in mm) 65.9 Preferred - EBITDA 233.5 256.6 296.7 322.4 201.3 227.1Short Interest (as % of Float) 4.9% Minority Interest - EBIT 17.4 48.6 114.2 103.1 70.7 59.6Avg. Day Vol - 3 mos (000s) 501.9 Enterprise Value $3,834.7 Net Income (29.4) (6.6) 66.0 51.1 38.7 23.8Dividend/sh (latest annualized) - Book Value of Equity $1,334.6Dividend yield - Tangible Book Value ($319.4) CFO $172.4 $176.3 $215.3 $220.1 $131.7 $136.5

Capex (27.5) (35.5) (31.7) (37.1) (22.9) (28.4)Liquidity (mm) 10/31/2019 FCF 144.9 140.8 183.6 182.9 108.7 108.1Available $300.0 FCF/Share 2.15 2.09 2.72 2.71 1.61 1.60Liquidity (Available + Cash) $726.8(1)As of 12/05/19 Source: Historical Financials from Capital IQ, Company SEC Filings, and Company Investor Relations website

Company Info Balance Sheet Metrics 10/31/19 Performance RatiosSector Application Software Days Sales Out 112 2017 2018 2019 LTM YTD 18 YTD 19Last Reported Qtr 10/31/2019 Days Inv On Hand 19 YoY Rev Grth -6.0% 6.9% 8.3% 6.3% 10.2% 7.2%Currency USD Days Payable Out 61 Gross Margin 60.2% 60.6% 63.5% 64.9% 62.3% 64.3%Employees 6,400 Net Work Cap % of Rev -3.2% SG&A / Sales 58.6% 56.4% 54.2% 56.9% 54.5% 58.2%Website www.verint.com Net Fixed Assets % Rev 16.6% EBITDA Margin 22.0% 22.6% 24.1% 24.9% 22.4% 23.5%Telephone 631-962-9600 Cash / Share $6.33 EBIT Margin 1.6% 4.3% 9.3% 8.0% 7.9% 6.2%Next Earnings Date 1/31/2020 Book Value / Share $19.79 Net Margin NM NM 5.4% 3.9% 4.3% 2.5%

TBV / Share ($4.74) ROIC % NM 198.9% 255.2% 59.4% 115.8% 34.3%

Source: Capital IQ and Company SEC Filings Source: Performance Ratios calculated based on historical financials from Capital IQ and SEC Filings

Interest As of Scheduled Maturities (from Latest 10Q) Convertible Term Finance OperatingCapitalization Table (in mm) Coupon Expense Maturity 10/31/2019 (in mm) Notes Loan Leases Leases

Cash $426.8 Less than 1 Year - $1.1 $0.4 $7.3Revolving Credit Facility(1) Various - Jun-22 - 1-2 Years 400.0 8.5 3.4 50.1 Convertible Senior Notes 1.500% $6.0 Jun-21 400.0 Thereafter - 405.9 1.2 81.5 Term Loan(2) EUR + 2.25% 9.3 Jun-24 415.4 Total $400.0 $415.4 $5.0 $138.9Total Debt $815.4Net Debt 388.6Preferred Equity -Minority Interest -Shareholders' Equity (Book) 1,334.6Total Capital $2,150.0

(1) Interest rate on Revolving Credit Facility determined by leverage ratio per the 2017 Credit Agreement(2) Interest rate on Term Loan ranges from EUR + 2.00% - 2.25%Source: Company SEC Filings


This summary is for informational purposes only. Under no circumstances is it to be used or considered as an offer to sell, or a solicitation of an offer to buy any security. While the information contained in this summary has been obtained from sources believed to bereliable, we do not represent or guarantee that the summary is accurate or complete, and it should not be relied upon as such. Based on information available to us, prices in this summary are as of the date hereof. The securities mentioned in this summary involvesubstantial risk and should generally be purchased only by investors able to accept such risk.

While this summary is in circulation, Imperial Capital, LLC ("IC") or its affiliates may, from time to time, make purchases or sales for their own accounts of securities of any entity. IC’s market making may constitute, in the case of equity securities and certain debt securities,standing ready to make purchases or sales of securities on a regular or continuous basis or quoting markets in debt securities. Notwithstanding IC’s market making activities as of the date hereof, while this summary is in circulation IC may begin or discontinue such marketmaking activity for any entity. IC is a member of FINRA (www.finra.org) and SIPC (www.SIPC.org).

Verint Systems Inc. (“Verint” or the “Company”) is a global leader in Actionable Intelligence® solutions, empowering organizations with crucial insights and enabling decision makers to anticipate, respond,and take action. Verint’s solutions help organizations address two areas of the Actionable Intelligence market—Customer Engagement and Cyber Intelligence. The Company does this by capturing largeamounts of information from numerous data types and sources, using analytics to glean insights from the information, and leveraging the resulting intelligence to help optimize customer engagement andmake the world a safer place. The Company was founded in 1994 and is headquartered in Melville, New York.

Notes:- On December 5, 2019, Verint announced its plan to separate its customer enagement segment and its cyber intelligence segment into two separate companies. Apax Partners will invest up to $400 million, subject to regulatory approval.- On November 15, 2019, WatersTechnology awarded Verint for the best buy-side compliance program on the market in 2019. Verint's platform Financial Compliance aids buy-side investment companies excel through the use of AI.

COMPANY PRESENTERS


4931 N. 300 WestProvo, UT

(801) 377-9111vivint.com

Sector: Smart Home

Vivint Smart Home is a leading smart home company in North America. Vivint delivers an integrated smart home system with

in-home consultation, professional installation and support delivered by its Smart Home Pros, as well as 24/7 customer care

and monitoring. Dedicated to redefining the home experience with intelligent products and services, Vivint serves more than

1.5 million customers throughout the U.S. and Canada.

Founded in 1999, Vivint provides smart home products and services for the broad consumer market. Vivint is the only smart

home company with an integrated business model, including an integrated smart home platform, in-home sales, installation,

professional monitoring, service and customer support.

Vivint offers a comprehensive suite of smart home products with flexible pricing and service plans. Consumers can select from

a variety of products, including smart locks, lighting, cameras, thermostats, garage door control, car protection and security

sensors. They can control their home using a panel, a single app or by using their voice.

The Blackstone Group acquired Vivint for $2 billion in 2012. In 2016, Vivint received a $100 million equity investment co-led by

Peter Thiel and Solamere Capital. In September 2019, Vivint and Mosaic Acquisition Corp. (NYSE: MOSC) (“Mosaic”), a publicly

traded special purpose acquisition company, announced they have entered into a definitive agreement to merge Vivint with a

subsidiary of Mosaic. Following the merger, Mosaic will be renamed “Vivint Smart Home, Inc.” With an agreed initial enterprise

value of $5.6 billion, Vivint is anticipated to have revenues of $1.3 billion for fiscal year 2020E and Adjusted EBITDA of $530

million, implying an Adjusted EBITDA multiple of approximately 10.5x.

Ownership: Private

Number of Employees: 10,000

Annual Revenues: $1.0 Billion

Vivint Smart Home

COMPANY PRESENTERS


Source: Company



401 W. Travelers TrailBurnsville, MN 55337

(952) 894-5343www.vtisecurity.com

Sector: Security Systems & Services

For over 35 years VTI Security (VideoTronix, Inc) has been called upon to design, install, and support a full range of advanced

security technologies. With ten offices and plans to add three-to-five locations in 2020, we have become one of the largest

independent service-based providers of security solutions in the US. We build Business Partnerships based on our Core Values

of Trust, Mutual Respect, and Accountability. We specialize in enterprise systems, those customers with multiple sites and

recurring project and service revenue. Our technical account management team is supported by certified professionals in

engineering, CAD, project management, field programming and technology. We support work in North America and globally

using a network of local service providers. To maintain our technical competency, we make substantial annual investments in

training for all technical staff. We are debt free and have grown organically by reinvesting in our business.

Our customers are some of the most recognized brands in healthcare, education, industrial, government and financial services,

along with those in the critical infrastructure of energy, utilities, and data centers. Our Core accounts are those with whom

we secure a Master Service Agreement and conduct negotiated business over multiple years. Each of our geographic offices

operate entrepreneurially and pursue the most profitable business relationships in the vertical markets we serve. We strive to

attain and maintain the status of Trusted Business Advisor for our customers. We welcome the opportunity to collaborate on

the strategic planning associated with project prioritization, financial planning, technology migration, and leveraging capital

investments.

Our people are our strength and as such VTI recruits, trains, and retains highly experienced industry professionals. We have

a very high retention rate and low turnover in key positions. We conduct engagement surveys, town hall meetings and focus

on leadership development for all colleagues as a core tenant of maintaining our culture. We believe everything rises and falls

on the commitment of all colleagues, at all levels, to meet the expectations of our customers. Our performance statement

provides the best summary: “In business, words are words, explanations are explanations, promises are promises, but only

performance is reality”.

Ownership: Privately Held



VTI Security (VideoTronix, Inc.)

COMPANY PRESENTERS


Source: Company



100 Technology Drive, Suite B130Broomfield, CO 80021

(720) 572-4963Wavelynxtech.com

Sector: Security – Commercial Electronic Access Control

WaveLynx is a Manufacturer of commercial access control and identification products. WaveLynx’ headquarters and

Manufacturing facility are co-located in Broomfield, Colorado. WaveLynx was founded in 2012 by industry experts to provide

the market with a new generation of access control devices. These products were designed to enable a seamless transition for

enterprise customers to move from the legacy credential solutions to smart cards and mobile credentials with secure access

reader technologies. As the developers of the LEAF open data structure, WaveLynx is the leader in offering an open and

secure ecosystem of interoperable devices.

WaveLynx’ business model is unique in that is supports custom configurations and encryption keys, leading to non-disruptive

migration paths for the end users of the technology. WaveLynx also manufactures and sells intelligent edge networked readers

and devices to enable panel-less solutions. WaveLynx’ secure key management services enable interoperability with other

campus devices not manufactured by WaveLynx, such as biometrics and logical access readers. WaveLynx also manufactures

secure smart cards with off the shelf and custom, end user owned encryption keys to enable the seamless upgrade to secure

access solutions.

WaveLynx is rapidly growing their end user customer base as well as strategic partnerships. WaveLynx is focused on enabling

the maximum functionality and value for its end-users, while driving high margin products and revenue growth through their

OEM channels. WaveLynx is also focused on bringing the most secure RFID ecosystem of products to the enterprise end-user

by partnering with vendors in the fields of logical access, secure printing, electronic locks, biometrics, etc. WaveLynx supports

and drives programs such as LEAF to guarantee the broad interoperability of secure RFID devices.

WaveLynx sells its standard products exclusively through the access control system manufacturers (OEMs). WaveLynx readers

are compatible with every system on the market today. WaveLynx products are compatible and relevant to every business

who employs electronic on-line access control. WaveLynx has been most successful in the financial, higher education, and

global enterprise markets. All WaveLynx products are designed and certified to be distributed globally. WaveLynx also sells

customized RFID and hardware solutions to the access control software OEMs to meet their specific market requirements.

Ownership: WaveLynx is privately held and fully independent. WaveLynx holds no debt.



WaveLynx Technologies Corporation

COMPANY PRESENTERS


Route de Pré-Bois 29, P.O. Box 853, CH-1215Geneva 15, Switzerland

www.wisekey.com

WISeKey International Holding AG (WIHN.SW)11/6/2019

WISeKey International Holding AG (WIHN.SW) Route de Pré-Bois 29, P.O. Box 853, CH-121511/6/2019 Geneva 15, Switzerland

www.wisekey.com

Market Information as of 11/6/2019 Cap Structure (mm) 6/30/2019 Historical Financials ($mm exc per share data)Ticker WIHN FD Shares (Wt Avg) 36.8 2015 2016 2017 2018 LTM YTD 18 YTD 19Latest Close Price $2.17 Market Cap $79.9 Sales $2.3 $11.0 $43.1 $34.3 $30.1 $16.6 $12.552 Week Hi - Low $3.60 - $2.12 Total Debt 9.1 Gross Profit 1.5 4.4 20.7 16.0 13.0 7.8 4.9LTM Stock Performance -32.0% Cash 18.4 SG&A 7.4 39.3 19.9 20.0 20.3 4.9 10.2Float (Shares in mm) 24.9 Preferred - Adj. EBITDA (4.5) (35.0) (8.5) (4.0) (5.9) (1.1) (7.2)Short Interest (as % of Float) 0.0% Minority Interest (1.1) EBIT (6.5) (36.2) (13.5) (7.5) (12.7) (2.3) (7.9)Avg. Day Vol - 3 mos (000s) 38.4 Enterprise Value 69.6 Net Income (6.2) (35.9) (24.3) (16.3) 16.2 (10.7) 21.8Dividend/sh (latest annualized) - Book Value of Equity 30.2 Dividend yield - Tangible Book Value 22.1 CFO ($4.6) ($10.9) ($4.9) ($8.5) ($5.9) ($8.5) ($5.9)

Capex 0.0 (0.1) (0.7) (1.2) (2.4) (1.2) (0.1)Liquidity (mm) 6/30/2019 FCF (4.6) (11.0) (5.6) (9.7) (8.3) (9.7) (6.0)Available $56.1 FCF/Share (0.13) (0.30) (0.15) (0.26) (0.17) (0.26) (0.16)Liquidity (Available + Cash) 74.5

Source: Historical Financials from Capital IQ and Company SEC Filings.

Company Info Balance Sheet Metrics 6/30/2019 Performance RatiosSector Security Systems & Services Days Sales Out 86 2015 2016 2017 2018 LTM YTD 18 YTD 19Last Reported Qtr 6/30/2019 Days Inv On Hand 86 YoY Rev Grth -34.0% 379.3% 207.2% 1.8% -3.0% -13.5% -24.9%Currency USD Days Payable Out 199 Gross Margin 64.1% 40.4% 48.0% 46.6% 43.2% 47.0% 38.9%Employees 200 Net Work Cap % of Rev 5.8% SG&A / Sales 321.4% 358.4% 46.1% 58.4% 67.4% 29.8% 81.8%Website www.wisekey.com Net Fixed Assets % Rev 11.8% EBITDA Margin NM NM NM NM NM NM NMTelephone +41 22 594 3000 Cash / Share $0.50 EBIT Margin NM NM NM NM NM NM NMNext Earnings Date 12/31/2019 Book Value / Share $0.82 Net Margin NM NM NM NM 53.7% NM 174.6%

TBV / Share $0.60 ROIC % 274.9% 3190.7% 422.9% 415.3% NM NM NM


Interest As of Scheduled Maturities (from Latest 10K and 10Q) OperatingCapitalization Table (in mm) Coupon Expense Maturity 6/30/2019 (in mm) Debt Leases

Cash $18.4 Less Than 1 Year $9.0 $0.3Term Loan Various - Various $9.0 1-3 Years - 1.3 Operating Leases N/A - Jun-22 $1.5 3-5 Years - - Less: Unamortized debt discounts $1.3 More than 5 Years - - Total Debt $9.1 Total $9.0 $1.6Net Debt (9.2)Preferred Equity - Minority Interest (1.1)Shareholders' Equity (Book) 30.2Total Capital $38.2



While this summary is in circulation, Imperial Capital, LLC ("IC") or its affiliates may, from time to time, make purchases or sales for their own accounts of securities of any entity. IC’s market making may constitute, in the case of equity securities and certain debt securities, standing ready tomake purchases or sales of securities on a regular or continuous basis or quoting markets in debt securities. Notwithstanding IC’s market making activities as of the date hereof, while this summary is in circulation IC may begin or discontinue such market making activity for any entity. IC isa member of FINRA (www.finra.org) and SIPC (www.SIPC.org).

WISeKey International Holding AG ("WiseKey" or the "Company"), a cybersecurity company, provides digital identity ecosystems for people and objects using blockchain, artificial intelligence(AI), and Internet of Things (IoT). The Company offers microchips in various IoT sectors, including connected cars, smart cities, drones, agricultural sensors, anti-counterfeiting, smart lighting,servers, computers, mobile phones, crypto tokens, etc. It offers solutions for digital brand protection, security for financial institutions, secured IoT, mobile solutions, wearable payments, andsecure connected cars. The Company was founded in 1999 and is headquartered in Geneva, Switzerland.

Notes:- On July 9, 2019, WISeCoin AG, a special purpose vehicle created by the company, became one of Oracle's first external trusted identity providers, allowing clients to securely add data onto the Oracle Blockchain Platformusing the WISeKey cryptographic key infrastructure.

- On February 27, 2019, WISeKey SA, a wholly owned subsidiary, signed a perpetual license agreement with Daimler AG, one of the world's most successful automotive companies, for certain components of its ISTANA PKIplatform.

COMPANY PRESENTERS


CONFERENCE SPONSORS

IMPERIAL CAPITAL WOULD LIKE TO THANK OUR SPONSORS WHOSE GENEROUS SUPPORT MADE THIS CONFERENCE POSSIBLE.


Note: Rank excludes banks with high non-loan asset concentrations: Goldman Sachs, Morgan Stanley, BONY, State Street, Charles Schwab. Ranks as of 3/31/2018. Based upon total gross loans and total aggregated domestic deposits for bank holding company. Sources: SNL, FDIC, company reports. Subject to credit approval. Additional terms and conditions apply. Products and services are offered by Capital One, N.A., Member FDIC. © 2019 Capital One.

You ensure security.We ensure financial solutions.

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PLATINUM SPONSOR


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272781467-SK-0918


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Register today for free at: WWW.ISCWEST2020.COM/ICC

ISC West is the largest converged security industry trade show in

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that convene at the show to experience and explore the newest

technologies and solutions from Access Control, Video Surveillance,

Emergency Response, Public Safety to IT/IoT Security, Smart

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networking opportunities, special events, award ceremonies and

the leading-edge SIA Education@ISC makes ISC West the security

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Make themark.

Shawn Dubinsky312-602-4759 | [email protected]

Allen Roiser312-602-3573 | [email protected]


SILVER SPONSOR


SILVER SPONSOR

Who We AreThe Security Industry Association (SIA) is the leading trade association for global security solution providers, with more than 800 innovative member companies representing thousands of security leaders and experts who shape the future of the security industry.

How SIA Helps You

Discounted Membership for Investment Firms: $1,000 annually. Join SIA Today!

Security Industry Associationsecurityindustry.org

96% SIA Members would

recommend SIA to an industry colleague, according to the SIA Member Satisfaction Survey

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representing thousands of security professionals

manufacturers, 53%

service providers, 20%

integrators, 10%

distributors, 5%

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Membership Breakdown

Member Benefits for Investors:• Participation in Investment Trends

Committee (chair: John Mack, Imperial Capital)

• Investment Trends Committee Reports and Webinars

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LONDON Imperial Capital (International) LLPOne Eagle PlaceLondon SW1Y 6AF+44 (0) 20 7650 5400

HOUSTON1330 Post Oak BlvdHouston, TX 77056(713) 892-5601

PALM BEACH3801 PGA BoulevardSuite 802Palm Beach Gardens, FL 33410(561) 214-7901

TEL AVIVImperial Capital Israel Ltd.P.O.B. 29141Tel Aviv, Israel(800) 929-2299

LOS ANGELES10100 Santa Monica BlvdSuite 2400Los Angeles, CA 90067(310) 246-3700

BOSTON265 Franklin Street

Suite 1804Boston, MA 02110

(617) 478-7600

CHICAGO200 South Wacker Drive

Suite 3100Chicago, IL 60606

(312) 674-4721

NEW YORK277 Park Avenue

48th FloorNew York, NY 10172

(212) 351-9700

STAMFORD1 Landmark Square

Suite 720Stamford, CT 06901

(203) 428-3300

At Imperial Capital, we measure success by the profitable opportunities and expert service we provide to corporate issuers and institutional investors. A strong commitment to extensive research and efficient execution enables our firm to offer specific and unique insights across the entire capital structure of issuers in the Americas and Europe, while our operations team provides the ability to manage the closing and settlement transactions in both public and private securities. Together, the 250+ Imperial Capital employees provide familiarity, stability, consistency and peace of mind to our many clients.

IMPERIAL CAPITAL LOCATIONS


NOTES

WWW.IMPERIALCAPITAL.COM 91 91

CONFERENCE REGISTRATION & HOURSRegistration is located in the Gallery on the Mezzanine Level. Hours: 7:30 AM - 4:45 PM

NAME BADGESAll conference attendees are required to wear their conference badges at all times during the conference.

SCHEDULEIn order to stay on time, the conference will be synchronized. Please watch the clocks in the main presentation rooms for the countdown of each time period. A 5-minute break between each presentation will allow ample time for you to get to your next presentation.

EXHIBITSWe invite you to visit the sponsor exhibits located in the Gallery, Mezzanine Level. They will be displayed throughout the day.

CELL PHONES & MOBILE DEVICES As a courtesy to our presenters and speakers, please be sure to set cell phones to silent mode during the conference.

COAT CHECKA coat check will be available throughout the day located on the Lobby Level.

LOST & FOUNDPlease place your business card in the slot provided in your conference bag to help identify the bag in case it is misplaced. Any found items will be returned to registration.

IN CASE OF EMERGENCYTo notify hotel emergency staff, please dial “0” from any hotel phone or dial “911” on any outside phone to get emergency assistance. The number for the InterContinental New York Barclay is (212) 755-5900.

ADDITIONAL CONFERENCE DETAILS

DECEMBER 9 - 10, 2020INTERCONTINENTAL NEW YORK BARCLAY

CONFERENCE

2020

Important DisclosuresThe information contained herein represents a summary of public information. Imperial Capital, LLC neither makes any projections with regard to outcome nor makes any recommendation with respect to investment in the securities and the issuers discussed herein. This is a collaborative product of Imperial Capital, LLC and may reflect contributions from all departments within the Firm, including the Firm’s investment banking, institutional research and institutional sales & trading departments. This is not a product of the Firm’s institutional research department.

This booklet is for information purposes only. Under no circumstances is it to be used or considered as an offer to sell, or a solicitation of an offer to buy any security. While the information contained herein has been obtained from sources believed to be reliable, we do not represent or guarantee that it is accurate or complete, and it should not be relied upon as such. Any references or citations to, or excerpts from, third-party information or data sources (including, but not limited to, Bloomberg, Capital IQ and IBISWorld) do not and are not intended to provide financial or investment advice and are not to be relied upon by anyone as providing financial or investment advice. Based on information available to us, prices and opinions expressed herein, if any, reflect judgments as of the date hereof and are subject to change without notice. The securities of the issuers covered by or mentioned herein may involve substantial risk and should generally be purchased only by investors able to accept such risk. Any opinions expressed assume that this type of investment is suitable for the investor. While this is in circulation, Imperial Capital, LLC or its affiliates may, from time to time, make or quote a market in or make purchases or sales for their own accounts of securities of the issuers described herein. Imperial Capital, LLC or its affiliates may from time to time perform investment banking or other services for, or solicit investment banking or other business from, any issuer mentioned herein, and therefore Imperial Capital, LLC may have a conflict of interest that could affect its objectivity herein.

© 2019 Imperial Capital, LLC

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