An introduction to the PIPE project, team and Loan Note.

1. SEPTEMBER 2019
PIPE: THE PRE-IPO
EXCHANGE
Disrupting university R&D and IP commercialisation since
2012

2. Document Outline
Getting to know us...
What are we offering and why?
Performance to date
Structure & Advisors
The Highlights
Background
The Problem
The Solution
Core Features
Facts and Figures
Meet The Team
Our Contact Info
P I P E L L C 2 0 1 9

3. P I P E L L C 2 0 1 9
What are we offering and why?
Who? - The PIPE Company LLC (Tallinn, Estonia and UK sales offices) is creating the
Pre-IPO Exchange and associated investment fund via a Security Token Offering in
2020 to raise €15m to €200m
Why? - The PIPE Platform will deliver to EU university start-ups what the NASDAQ or
AIM does for IPO's
What? - A 12-month 12% convertible Loan Note (quarterly coupons @ 3%) to secure
£300k- £500k in initial operating/development capital.
When? - September to October 2019.

4. 2012
Following market research and engagement with
our university clients, we are creating the PIPE.
Re-build, new approach
The Brexit vote stopped ALL university investment in it's tracks.
We dissolved the company and moved to the EU to restructure.
BREXIT
We developed the Exeter University Innovation Fund, in partnership with AIM.
Value to the business over 5 years £3.5m
First EIS/SEIS Fund £5m
Our first university R&D/IP commercialisation engagement. This is followed by further
engagements with Exeter, Cardiff, Queen Mary's, Holloway (UoL), Bath, Bristol, Salford,
Sheffield, Drexel (US), Gloucestershire, Staffordshire.
University of Manchester (UMIP)
A business accelerator, incubator and investment process to support start-ups
Original operating company formed
Performance to date
2014
2015
2016
2018/19
£60k profit
£22k profit
£120k
loss
£77k to date, £712k Y1 forecast

5. Structure &
Advisors
P I P E L L C 2 0 1 9
The PIPE Company LLC (reg.no: 14807338) is based in Tallinn, Estonia
and fully owns PIPE (UK), PIPE Funds (EU) and The PIPE platform (EU)
based in Valletta, Malta.
Bankers: Revolut, multi-currency, digital currency, challenger bank
Advisors:
Comistar Estonia Ahtri 12-200 10112 Tallinn - exchange regulations &
licences, international tax
Simons Muirhead & Burton Soho, London - general legal counsel,
regultory frameworks & Governance Risk & Compliance.
Zeeniya Consulting Ludgate Hill, London - FCA and financial licensing
advisors.
PIPE
LLC
PIPE
UK
PIPE Funds
(EU)
The PIPE
Platform (EU)

6. P I P E L L C 2 0 1 9
THE HIGHLIGHTS
What The PIPE does and why you should invest.
The PIPE Company LLC works with universities on commercialising research and development projects
with strong intellectual property, and has done so since 2012 (via UK subsiduary). In 2016, Brexit caused
the management team to dissolve the business in the UK and move to the EU.
We are now raising funds by way of a Loan Note (valuation £4.2m) ahead of a bond issue under FCA
Section 21 in Q4 2019 to develop The PIPE Platform. The Loan Note is secured against equity and is
convertible.
Our team is very strong and capable, with a clear plan, goal and proven industry experience in this space.
Our plan is to expand our reach to the EU and to provide an exchange (The PIPE Platform) to allow
projects to raise and maintain raising of funds until they reach an exit.

7. P I P E L L C 2 0 1 9
Background ABOUT THE PIPE PLATFORM
The PIPE Platform is a decentralised, cross border, cross legislation and
currency independent blockchain solution for early stage university spin-out
companies with high value R&D and patented technologies and solutions that
want to raise growth funding.
PIPE is a Pre-IPO Exchange system for trading Security Tokens called PIPE
Tokens (PTO). These can be acquired from PIPE LLC in Fiat, ETH, BTC, LTC
etc. The PTO sale will generate a fund which will be invested by PIPE Funds
(EU) into university R&D/IP backed spin-out companies that pass due
diligence. Invested companies are listed on The PIPE Platform and investors
can trade, sell or buy PTO as they wish.
As the invested company grows PIPE Funds (EU) will provide up to £2m per
opportunity after which The PIPE Platform can be used for raising additional
funds as required. This keeps early stage companies in The PIPE Platform
longer term, drives profits and prevents early low value exits. Overall exit will
be via a trade sale or IPO within 5-7 years, although investors can exit earlier
by selling their PTO on The PIPE Platform.

8. Kevin Systrom co-founder Instagram
“I think not focusing on
money makes you sane,
because in the long run it can
probably drive you crazy."

9. The Problem
Raising and Investing
When raising funds for an early stage project we think in terms of
'seed rounds' and 'A, B, C or even D rounds' often with the funds
coming from different investors under different terms. The start-
up board often prioritises fund raising above all else, which can't be
healthy! If funds could be provided throughout the fund raising
lifecycle and the business supported throughout, wouldn't that be
better?
Investing in start-ups is challenging due to the varied nature of the
start-up community, understanding the due diligence and
commercial viability is difficult and investors stick to what they
know. This in turn increases the principle risk as all their money
goes into single markets and/or solutions. A sensible spread
across well defined, well managed and thoroughly inspected
opportunities must be a better option?
P I P E L L C

10. The Solution
The PIPE Way
Investors funds (1) are spread across 100+ investments each year
in EU university research and development projects (2) that have
intellectual property (IP) such as a patent, have passed through a
rigorous due diligence process, (3) have attracted good quality
associates to the board to support the business long term (4) and
have the potential to produce 10-30 x ROI for the invested funds
(5). The invested project is then listed on the PIPE (6) and
proactively monitored, managed and administered (7) by the fund,
associates and board observer(s) to drive performance (7).
Our primary goal is to support the life of the business from seed to
£2m, following which we weill seek to exit via the PIPE a trade sale
or a full IPO.

11. P I P E L L C
CORE FEATURES
What The PIPE Platform can do
List &
monitor
invested
companies
Report
performance
and value
Manage
KPI's via
Blockchain
Provide
Liquidity
De-risk
Identify new
profitable
opportunity

12. $2.2 trillion
Spent on R&D in 2018
66%
Of ALL new products will come from R&D over the next 5-
years

13. The Plan FUNDING ROUNDS
Round 1 - Loan Note
In September/October 2019, we are looking to secure operating and
development capital by way of a 12-month 12% Loan Note with the coupon
paid quarterly (3%) on the capital invested. At the end of the 12-month term,
the capital will be repaid in full.
Optional DRIP - the investor has the option to transfer the capital balance into
equity after 18-months.
Round 2 - Bond Issue
In Q4 2019 we will issue a bond via Bluewater Capital Management under
Section 21 of the FCA code to raise £1.5m.
Round 3 - Security Token Offering
In Q1/Q2 2020 we will launch an STO offer to raise the fund of £15m (soft cap)
and £200m (hard cap).
Round 1 - Private Placement
Revenue to date £77k
Forecast revenue Y1 £712,000
Current valuation based on DCF, NPV, ROI and EBITDA is £4.2m
Useage: operating capital, FCA Section 21 fee for bond issue and
promotion, pre-PIPE launch administration.
Round 2
£1.5m raise for the development in full of the PIPE, go to market
support, staff and operating capital
Round 3
Fund raise for investment into c.100 per annum EU university
R&D/IP backed projects at >25% equity.

14. P I P E L L C
MEET THE TEAM
Our Passionate People
Robert Steele
Founder & Business Development
LinkedIn
Toby Sperrin
Head of Blockchain
LinkedIn
Torben Anderson
CTO
LinkedIn
Natacha Rousseau
Head of Group Marketing
LinkedIn

15. Our Contact Info
Mailing Address
UK Sales : c/o 1 Mill Row, Sandbach, Cheshire CW11 1JX Tel: 0161 818 6689
Registered : Tallin, Keemia 4, 10616 (Reg No: 14807338) - Tel: +372 618 8164
UK Email Address
robert@thepipecompany.io
Mobile Phone Number
+44 (0) 7434 709838
Website currently under development : www.thepipecompany.io