Food safety, food transparency, and food verification are expected to be some of the top consumer trends of the next decade. A powerful dynamic occurs when there are several large emerging consumer trends and the best way to play it is a microcap stock. Plenty of investors are aware of Whole Foods (WFM), The Fresh Market (TFM), Annie’s (BNNY), Natural Grocers (NGVC), but few have heard of a 17 year old company called Where Food Comes From (WFCF). You ever wonder who actually verifies food labels? WFCF does, and they have a 50%+ market share in verifying beef and are now expanding into other food groups. They are now launching their own food label called Where Food Comes From. Listen to CEO John Saunders as he tells the story.

1. Where
Food
Comes
From®,
Inc.
MicroCapClub
Presenta2on
January
3,
2013
Where
Food
Comes
From,
Inc.
D.B.A.
IMI
Global,
Inc.
OTCQB:
WFCF

2.
Forward-­‐Looking
Statements
This
presentaNon
contains
"forward-­‐looking
statements"
within
the
meaning
of
the
U.S.
Private
SecuriNes
LiNgaNon
Reform
Act
of
1995,
based
on
current
expectaNons,
esNmates
and
projecNons
that
are
subject
to
risk.
Forward-­‐looking
statements
are
inherently
uncertain,
and
actual
events
could
differ
materially
from
the
Company’s
predicNons.
Important
factors
that
could
cause
actual
events
to
vary
from
predicNons
include
those
discussed
in
our
SEC
filings.
Specifically,
statements
in
this
presentaNon
about
financial
performance,
new
business
development,
growth
potenNal,
market
leadership,
and
the
impact
and
potenNal
of
the
Company’s
products
and
services
on
the
marketplace
and
customers
are
forward-­‐looking
statements
that
are
subject
to
a
variety
of
factors,
including
availability
of
capital,
personnel
and
other
resources;
compeNNon,
governmental
regulaNon
of
the
beef
industry,
the
market
for
beef
and
other
factors.
Readers
should
not
place
undue
reliance
on
these
forward-­‐looking
statements.
The
Company
assumes
no
obligaNon
to
update
its
forward-­‐looking
statements
to
reflect
new
informaNon
or
developments.
For
a
more
extensive
discussion
of
the
Company’s
business,
please
refer
to
the
Company’s
SEC
filings
at
www.sec.gov.

3. People
are
asking…
”Where
does
my
food
come
from?”
“I’ve
never
seen
a
stronger
desire
for…..knowing
where
their
food
is
coming
from…”
-­‐-­‐
Whole
Foods
CEO
Walter
Robb
“ This
trend
of
the
global
consumer
really
wanNng
to
know
where
their
food
comes
from…
-­‐-­‐
McDonald’s
VP
Bob
Langert
“Oprah
explored
the
quesNon
on
today’s
show,
‘Do
you
know
where
your
food
comes
from?’”
-­‐-­‐
Examiner.com

4.
What’s
driving
this
trend?
• Food
Animal
Disease
and
Food
Safety
– BSE
(Mad
Cow),
E-­‐coli,
Salmonella,
Foot
and
Mouth
Disease
(FMD)
• Truth
in
Labeling
– Taco
Bell
Beef?,
“Pink
Slime”,
AnNbioNc
and
Hormone
Free
• RegulaNon
– Food
Safety
ModernizaNon
Act,
GMO
Labeling
(CA
Prop
37),
InternaNonal
Trade
(Free
Trade
Agreements),
Childhood
Obesity
• “Local”,
“Ethical”
and
“Sustainable”
Food
ProducNon
– Family
Vs
Factory
Farms,
Omnivores
Dilemma,
Jamie
Oliver’s
Food
RevoluNon,
Animal
Rights
Movements
(PETA),
Fair
Trade
CerNfied

5.
The
SoluNon

6. That’s
a
great
idea
for
a
startup
business…not
quite.
…this
is
17
years
in
the
making.
• #1
provider
of
third-­‐party
cerNficaNon
services
to
the
food
and
agricultural
industries
• 6,000+
customers:
ranchers,
feed
yards,
packers,
retailers,
restaurants
• USVerified™
brand
industry
standard
for
USDA
PVP
programs
• Verify
markeNng
claims
for
half
of
all
U.S.
beef
exports
• Recurring
revenue
model
generaNng
strong
cash
flows
to
support
growth
Infrastructure,
know-­‐how,
solu3ons
por5olio,
USDA
rela3onship,
track
record
and
large
customer
base
create
significant
barriers
to
entry
and
support
long-­‐term
leadership
status

7.
Core
VerificaNon
Services
• USVerified™
source
and
age
verifica2on
–
USDA
approved
program
addresses
country
of
origin
labeling
and
overseas
export
requirements
• Non-­‐Hormone
Treated
CaLle
(NHTC)
verifica2on
–
USDA
approved
program
verifies
hormone
free
claims
and
qualify
caple
for
export
to
European
Union
• Pork
for
European
Union
(PFEU)
–
USDA
approved
program
verifies
hormone
free
claims
and
qualify
pork
for
export
to
European
Union
• Verified
Natural
Beef™
–
USDA
approved
program
confirms
all-­‐natural
claims
and
USDA’s
NeverEver3
compliance
• Verified
Green™
–
Verifies
and
promotes
producers
pracNcing
sustainable
agriculture
• Verified
Humane™
–
Verifies
humane
handling
claims
• Verified
Grassfed™
–
Verifies
caple
raised
strictly
on
grass
diet
• Farm
Verified
Organic,
NOP
Organic
• Verified
Gluten
Free
• Where
Food
Comes
From®
–
New
retail
product
labeling
program

8.
WFCF
Customers
• Customers include
retailers, restaurants, food
distributors, meatpackers,
feed yards and auction
barns
• The company also
provides products and
services to more than 6,000
farms and ranches

9. High
Customer
RetenNon
Total
Customers
90% plus 7000
retention rate for
USDA Process 6000
Verified
Programs 5000
4000
New
Customers
3000
Repeat
Customers
2000
1000
0
2005
2006
2007
2008
2009
2010
2011

10.
WFCF
Product
Launch
Iden2fied
THREE
primary
target
customer
types
– High
End
Retailer
– Regional
Family
Style
Chain
– White
Table
Cloth
Restaurant
Main Course
Grilled Meat
Delmonicos Steak
Vintage All Natural Boneless Rib Eye
46
Prime New York Strip
Vintage All Natural Dry Aged Sirloin Strip
45
Double Porterhouse
Vintage All Natural Dry Aged Short Loin Steak
95
Delmonico Double Rib Chop “John Krupa”
Vintage All Natural Dry Aged, Three Pound Bone In Rib Eye
95
Filet Mignon
Vintage All Natural Tenderloin Steak
45
Steak Style
Oscar Au Poivre Surf For Turf
21 8 19
Sides
Garlic–Herb Whipped Potatoes 9
F r e n c h F r i e s, S p i c y M a y o 8
Hash Browns 9
D e l m o n i c o P o t a t o e s “S U M M E R “ 12
M a r k e t C a r r o t s, P e a s, C i p o l l i n i 10
C r e a m e d S p in a c h 10
Foraged Mushrooms 14
Grilled Asparagus 14
King Crab Macaroni & Cheese 18
Spaetzle 8
L o c a l G r e e n s, S w e e t C o r n, P o r k B e l l y 12

11. Heinen’s
Supermarket
Heinen’s Fine Foods is a leading specialty grocer –
family owned, 83 years old
18 high-end stores in Ohio and Illinois
www.wherefoodcomesfrom.com/heinens

12. Anderson’s
Frozen
Custard
Anderson’s Frozen Custard becomes
first regional restaurant chain to adopt
Where Food Comes From
• May 2012 rollout in 7 restaurants
• Patrons can access information on
select farms and families that raised
Anderson’s all natural beef

13. Delmonico’s
Steak
House
-­‐
NY
NY’s oldest steakhouse and one of
America’s most renowned restaurants

14. What
do
shoppers
think
about
WFCF?
February
2012
market
research
highlights:
94.5%
of
respondents
reacted
posiNvely
to
WFCF
labeling
51%
of
respondents
“definitely
more
likely”
to
purchase
product
with
WFCF
brand

15.
WFCF
Revenue
Model
Recurring
Revenue
Model
Retailers, distributors and
restaurants who carry products
displaying the WFCF brand pay us in
the following ways:
• License fees
• Per pound royalties
Customer for life mentality

16.
Market
Opportunity
Very
Hard
to
Define
Consider
these
facts…each
year
in
the
US
there
are:
1. Over
30
Billion
lbs
of
Beef
produced
2. Over
25
Billion
lbs
of
Pork
produced
3. Over
30
Billion
lbs
of
Chicken
produced
Based
on
our
per
pound
model
alone,
the
addressable
market
for
the
Where
Food
Comes
From
labeling
program
for
these
three
meat
products
is
es3mated
at
$2.7
billion

17.
Business
Strategy
Our
goal
is
to
be
the
leading
provider
of
third-­‐party
verifica2on,
iden2fica2on
and
traceability
solu2ons
to
the
food
and
agriculture
industries
Our
strategy
for
accomplishing
this
includes:
•
SoluNons
for
enNre
food
supply
chain
conNnuum,
including
feed
and
input
providers,
ranchers,
producers,
packers,
aucNon
barns,
processors,
distributors,
retailers
and
consumers
•
SoluNons
for
all
food
groups:
beef,
pork,
poultry,
produce,
dairy,
seafood,
beverages
•
Grow
our
large
and
diversified
customer
base
with
high
retenNon
rates
and
recurring
revenue
•
Preserve
and
expand
our
compeNNve
advantages
in
products,
soluNons
and
customer
service
•
Establish
Where
Food
Comes
From
as
industry
standard
soluNon
for
retail/consumer
market
•
Augment
organic
growth
with
select
acquisiNons

18.
M&A
OpportuniNes
–
ICS,
Inc.
In
Q1
2012
we
purchased
60%
of
the
outstanding
shares
of
Interna2onal
Cer2fica2on
Services
(ICS)
–
a
leader
in
organic
and
gluten
free
cer2fica2on
Terms:
$350,000
cash,
172,840
shares
of
common
stock;
non-­‐diluNon
provisions;
right
of
first
refusal
on
remaining
40%.
ICS
solu2ons:
Farm
Verified
Organic;
CerNfied
Gluten
Free
Synergies:
Leaders
in
respecNve
fields;
broadens
soluNons
poryolio;
cross
markeNng
to
disNnct
customer
bases.
Economic
impact:
ICS
unaudited
2011
revenue
of
$1.0M;
60%
ICS
revenue/expense
accrues
to
WFCF.

19. Revenue
Growth
30% CAGR since 2006
$4.2M
$4M
$3.3M
$3M
$2.7M
$2.4M
$2M
$1.7M
$1.1M
$1M
2006
2007
2008
2009
2010
2011
Note: To more accurately illustrate results from continuing operations, the financial data
presented excludes CattleNetwork and CattleStore operations that were divested in 2008.

20. Adjusted
EBITDA
$1.0M
$737,800
$442,900
$112,300
2006
2007
2008
$0
2009
2010
2011
$67,700
$654,200
$1.0M
$1,470,000

21. 2012
Year
To
Date
Highlights
• Q3
revenue
up
24%
to
$1.5
million
from
$1.3
million
• 11th
straight
profitable
quarter
• Nine-­‐month
revenue
up
24%
to
$4.0
million
from
$3.2
million
• Nine-­‐month
net
income
of
$730,200
versus
$558,300
year
over
year

22. SG&A
as
%
of
Revenue
200%
192%
150%
117%
100%
60% 55%
50%
44% 40%
2006
2007
2008
2009
2010
2011

23. Balance
Sheet
Highlights
• Working
capital
of
$1.6
million
• Cash/cash
equivalents
&
short-­‐term
investments
of
$1.4
million
• Stockholders’
equity
of
$2.1
million
As of September 30, 2012.

24. Management
Team
John
Saunders
Chief
Execu2ve
Officer
and
Chairman
of
the
Board
• Founded
IMI
Global
in
1995;
deep
background
in
livestock/agricultural
industry
• BA
History,
BS
Environmental
Studies
–
Yale
University
Leann
Saunders
President
• BS
Agriculture
Business,
MS
Beef
Industry
Leadership
–
Colorado
State
University
• McDonald’s
Corp.,
PM
Beef
Holdings,
Hudson
Foods
Corp.
DanneLe
Henning
Chief
Financial
Officer,
Accoun2ng
Officer,
SEC
Compliance
• CerNfied
Public
Accountant
• Einstein
Noah
Restaurant
Group,
Sirenza
Microdevices,
Peat
Marwick

25. Board
of
Directors
John
Saunders
-­‐
Chairman
of
the
Board
Leann
Saunders
-­‐
President
Dr.
Gary
Smith,
PhD
•
Dept.
of
Animal
Science,
Colorado
State
Univ.
–
Ken
&
Myra
Monfort
endowed
chair,
meat
science
•
PhD
Meat
Science
&
Muscle
Biology,
Texas
A&M;
Professor,
Washington
State
Univ.
&
Texas
A&M
•
Instructor,
FSIS-­‐USDA
NaNonal
Meat
InspecNon
Training
Center
Pete
Lapaseotes
•
Co-­‐manager
Lapaseotes
family
farm
and
feeding
operaNon;
partner
in
five
John
Deere
dealerships
•
Partner,
11
The
MercanNle
Farm,
Ranch
&
Home
retail
stores;
board
member,
Valley
Bank
&
Trust
Adam
Larson
•
Member
and
manager
of
eight
caple
ranching
and
caple
feeding
operaNons
•
Member
and
manager
of
caple
financing
company;
University
of
Colorado
Robert
Van
Schoick
II
•
President
of
Med-­‐Pharmex
Animal
Health;
sales
and
markeNng
execuNve
of
Merck
&
Co.
•
Merial
Merck
animal
health
joint
venture;
BA,
MA
AusNn
College,
BS
Animal
Science
Texas
A&M

26.
Selected
Stock
Data
• Traded
–
OTCQB:
WFCF
• 52
week
stock
price
range
–
$0.13
-­‐
$1.55
• Average
daily
trading
volume
–
15,000
• Weighted
average
shares
outstanding
(diluted)
–
21,000,000
• Management/board
ownership
–
11,500,000
• Approximate
float
–
9,300,000
• Market
Cap
–
$25
million
• Fiscal
year
–
December
31
Note: Certain figures are rounded. Valuation and other data is subject to change on a daily basis and
is presented as a general reference as of Q3, 2012. Investors are encouraged to read the
Company’s SEC filings.

27.
Investment
Highlights
• Recurring
revenue
model
with
solid
track
record
of
profitable
growth
• Strong
balance
sheet
–
minimal
long-­‐term
debt
• Where
Food
Comes
From
has
significant
upside
• Scalable
playorm
can
support
much
larger
revenue
stream
• Expanding
market
opportunity
supported
by
long-­‐term
trends
• Organic
and
M&A
growth
opportuniNes
• Management/Board
own
55%
of
outstanding
shares

28.
Where
Food
Comes
From®
OTCQB: WFCF