ProXR biz overview 3 5-14


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ProXR - founded by Grady Phelan is changing how baseball looks at the bat!

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ProXR biz overview 3 5-14

  1. 1. Description of The ProXR Venture 3/3/14 What Is ProXR ProXR is a new baseball bat founded in ergonomics, enabling greater plate coverage, more precise bat control and improved power transfer from the hands to the ball. It is the only bat that frees a batters hands allowing them to achieve their ultimate swing – ProXR makes batters better hitters. ProXR Facts - ProXR is patented for both wood and metal, US Pat # 7,744,497, approved June 29, 2010 - The ProXR design has been approved for use in play by both MLB and the NCAA - The last MLB approved bat design change occurred around 1972 when the first cupped bats were introduced by Louisville Slugger, which was not patented and now account for roughly 40% of all wood bats sold. - ProXR has been used in regular season MLB games by Prince Fielder and Mike Hessman - ProXR has been accepted into the National Baseball Hall of Fame in Cooperstown as the first angled knob bat ever used in baseball - ProXR was awarded Best of Show at the 2011 American Baseball Coaches Convention - ProXR has been tested at Washington University School of Medicine and shown to reduce compression forces in batters hands by up to 25% The Bat Market In 2011, the NCAA (and in 2012 high school) initiated a new performance regulation for metal bats called BBCOR. In simplest terms, BBCOR means that all metal bats must return the same amount of energy to a baseball that a wood bat does at contact. Essentially, this means that all metal bats used in NCAA and in high school perform the same as wood. Today, the only real difference in metal bats is the paint job. The bat market is a roughly $200M/yr. market with 92% of the bat market in metal and 7% in wood & composites. It is a stagnant, commoditized market with very little innovation or discernible product differentiation. It is a market primed to be turned upside-down by a patented, proven performance innovation. ProXR Now ProXR’s efforts over the past five years have been focused on testing, validation and acceptance at the highest levels of baseball. Because of this, we have not focused on sales to consumers yet have still sold a few hundred wood bats with an average 44% margin. Cost per wood bat is $39.50, $70 wholesale, $109.99 MSRP ProXR is now ready for commercialization in both wood and metal. A wood bat manufacturer and a raw goods supplier are in place for producing wood bats.  The first production-ready, BBCOR certified, ProXR metal bat prototypes are being developed with a certified Ohio-based bat manufacturer now. ProXR needs guidance in navigating financial and investment opportunities to acquire the necessary funding to develop strategies for production, planning, forecasting and distribution. “This ProXR design may very well permanently change the baseball bat as we know it.” – Collegiate Baseball Magazine, January 28, 2011 Grady Phelan Giant Project, Inc. ProXR, LLC 314-322-7449
  2. 2. My Background I am a right-brain, serial-creative, idea guy. I see things others miss, love competition and thrive on collaboration. - Graduated Webster Groves High School in 1979 - Attended Tulsa University for two years majoring in business before transferring to The University of Kansas to major in graphic design, graduated in 1985 - Maritz was the first in a series of design jobs where I learned, excelled and then moved on to expand into other areas of creative development: promotion, advertising and packaging - My creative passion lead me to product development at American Express Incentive Services creating incentive debit card products, I’ve been hooked on product development ever since - Jumped ship from Amex to join a broad-band internet company to make millions only to have the tech bubble burst in my face three months later - Since then I’ve realized I need to have more control over my time and creative product, thus giving me more freedom to develop my own products and ideas - Over the past ten years, through my company Giant Project, Inc., I’ve been supporting clients with creative, marketing and communications services to help pay the bills on the home front and fund the ongoing development of ProXR - The ProXR product is born out of observation, curiosity, research, testing, crafting, demoing, presenting and having some of the most prominent brands in the bat business say “No.”, “Never.”, “Can’t.” and “Won’t.” - Every negative and discouraging thing told to me by “the baseball business experts” about ProXR has resulted in forward progress, increased momentum and further confirmation that this is the big idea. What Keeps Me Awake - Where will I find my source of funding? - How much of the company will I have to give up to get funded? - When (not if) will I land investors and an agreement? - How much longer can I afford to keep working/funding this on my own? - When will I get off this multi-point of focus, client supporting, development treadmill and start building the actual bat business full time? Grady Phelan Giant Project, Inc. ProXR, LLC 314-322-7449