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Ib2 c due diligence report

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    Ib2 c due diligence report Ib2 c due diligence report Presentation Transcript

    • DUE DILIGENCE REPORT Benjamin J. Garber 18 November 2010 Prepared for BlueTree Capital Group | BlueTree Allied Angels
    • Due Diligence Team
      • Kirk Vincent
      • David Charlton
      • Dwayne Bucko
      • Jenny Karlsson
      • Jason Matzus
      • Ben Garber
    • Company
      • Intimate Bridge 2 Conception (Ib2C) is a medical device company focused on fertility
      • Initial sales driven online and through infomercials
      • Ib2C is hoping to raise $1.5MM this round
      • CEO, Steve Bollinger
        • Market Advisors, Messrs. Swenson & Tovian
        • Medical Advisors, Drs. Pelekanos & Hoffman
        • Legal Advisors, Foley Hoad LLP
    • Company
      • Intimate Bridge 2 Conception (Ib2C) is a medical device company focused on fertility
      • Initial sales driven online and through infomercials
      • Ib2C is hoping to raise $1.5MM this round
      • CEO, Steve Bollinger
        • NO FEMALE PRODUCT OR MARKET ADVISORS
    • Product
      • Focus Touch Kit is a cervical cap devise featuring a unique delivery method
    • Key Considerations
      • No indication of market acceptance
      • No prototype or claim of product efficacy
      • No Freedom to Operate Study
      • Large market potential
      • Few competitors
    • Problem
      • 7.3MM women in the U.S. and 100MM+ worldwide having trouble conceiving
      • 1.2MM in the U.S. are actively seeking assistance
      • Existing IUI and IVF treatments are costly, invasive, uncomfortable, and unnatural
    • Solution
      • The Focus Touch Kit is:
        • Inexpensive at $80 (IUI is $2k and IVF is$20k)
        • Do-it-yourself low technology devise; no surgery
        • Used within the privacy of your own home
        • Reduces stress associated with conception
        • Hormone free utilizing natural mechanical techniques
    • Sales
      • BlueTree investment will primarily be allocated to product and strategy refinement and initial marketing efforts
      • Internet search marketing powered by GoogleAdwords... later social media, Yahoo, Bing
      • Infomercials supported by GoogleTV
    • Sales
      • BlueTree investment will primarily be allocated to product and strategy refinement and initial marketing efforts
      • Internet search marketing powered by GoogleAdwords... later social media, Yahoo, Bing
      • Infomercials supported by GoogleTV
      • $4.2MM marketing expense budgeted for first 200,000 unit sales represents the lower bound
    • Forecasts
      • Pending 510(k) approval in Q3 2011
      • 25,500 units IN Q3/Q4 2011 (6,375 customers) for revenue of $2.04MM
      • $12.5MM in 2012 to $22.5MM in 2013
        • OTC and international launch
    • Forecasts
      • Pending 510(k) approval in Q3 2011
      • 25,500 units IN Q3/Q4 2011 (6,375 customers) for revenue of $2.04MM
      • $12.5MM in 2012 to $22.5MM in 2013
        • OTC and international launch
      • Risk that sales will not accelerate as anticipated and Ib2C will need additional capital potentially diluting BlueTree’s interest
    • Document Review
      • Terms offered to BlueTree are same as PLSG including convertible promissory note and warrants
        • Received $200k from IW and $275k from PLSG
      • If the company sells for $20MM, PLSG would receive $1.55MM for it’s $275k in notes
      • PLSG conversion to 450k or 580k shares based on $4.5MM and $2.5MM valuations
    • Internet Marketing