Charitee Golf Hole-In-One Monitoring System

Download Report

Transcript Charitee Golf Hole-In-One Monitoring System

Nine Iron Innovations, Inc.

dba – Charitee Golf 30275 Solon Road Suite A3 Solon, Ohio 44139 David Greenspan, CEO P - 440-248-6677 F – 440-248-1566

Ohio Venture Association January 11, 2008

1

Executive Summary

Introduction to the Charitee System

The Charitee System uses a unique combination of automated solar powered video monitoring, wireless technology, and touch screen applications so that golf courses can offer hole-in-one, closest-to-the-pin, and other contests to every golfer, every round, adding excitement, improving golfer satisfaction, and increasing profits.

The Company is an Ohio C corporation founded 3 years ago.

Charitee has 4 FTE’s and 1 part-time consultant.

Charitee has raised $1,547,832. NCAF Jumpstart Individuals $256,252 $315,577 $976,003 2

PRODUCT

Technology

Charitee Golf is the industry leading provider of Hole-In-One and Closest-To The-Pin contests utilizing the latest in wireless, solar powered video monitoring technology.

Kiosk (Middle) Video Monitor Pole Point of Sale System

The Company has a patent pending.

Charitee has 14 operational units in the field in 4 states. The Company is in the final phases of testing version 2.0 of the hardware technology. This version is expected to be deployed in mid Q1 of 2008 and is expected to increase functionality, reduce installation and maintenance and reduce overall costs by 30%.

3

MARKET

There are 12,600 daily fee golf courses operating in the United States. Charitee estimates that about ½ are potential customers – ones that meet our selection criteria.

Competition – none in the automated video monitoring arena.

MANAGEMENT TEAM

David Greenspan -

Chief Executive Officer David Greenspan has over 12 years in entrepreneurial businesses and 5 years experience in the golf industry. Dave was formerly the Executive Vice President and Chief Financial Officer for ExchangeBlvd, an on-line auction site provider for golf, musical instruments and jewelry. Mr. Greenspan has also served as the Chief Operating Officer for The PGA TOUR Radio Network.

Steve Hiltebrant -

Director of Sales Steve Hiltebrant has 10 years of sales and marketing experience and recently held the position of Vice President of Marketing and Direct Sales at Hiltebrant Industrial Sales. Steve comes to Charitee Golf with a background that consists of the perfect combination of both sales and golf industry experience.

David Allen -

Director of Technical Operations David Allen brings over 30 years of technology experience and directs the deployment and improvement of the Charitee System. David was formerly Lead Engineer for Steris Corporation and Laboratory Manager for Hexagram Incorporated.. 4

FINANCIAL HIGHLIGHTS

Total Systems Gross Revenues ($000) Gross Margin ($000) EBIT ($000) 2008 55 $1,560 $702 ($7) 2009 180 $6,402 $2,916 $1,903

SERVICE TEAM

Attorney: Accountants: Bank: Porter, Wright, Morris & Arthur SS&G NationalCity Current Investors:North Coast Angel Fund JumpStart IMG Individuals 5

CAPTIAL REQUESTED

Amount of Financing $615,000 Price per Share: Minimum Investment $7.50

$10,000 Type of Security: Series A Convertible Preferred Stock

PLANNED USE OF FUNDS

$615,000 Total Hardware Installation Costs (21 units x $17,000 per unit) Operating Activities $357,000 $258,000 6