Exchange Income Corporation 2009 Annual ReportTMX Equicom
Exchange Income Corporation is a diversified acquisition-oriented company, focused on opportunities in the industrial products and transportation sectors which are ideally suited for public markets except for their size. The strategy of the Corporation is to invest in profitable, well-established companies with strong cash flows operating in niche markets in Canada and/or the United States. The Corporation trades on the TSX under the symbol EIF.
Exchange Income Corporation 2009 Annual ReportTMX Equicom
Exchange Income Corporation is a diversified acquisition-oriented company, focused on opportunities in the industrial products and transportation sectors which are ideally suited for public markets except for their size. The strategy of the Corporation is to invest in profitable, well-established companies with strong cash flows operating in niche markets in Canada and/or the United States. The Corporation trades on the TSX under the symbol EIF.
The 3Q12 Global TPI Index, which measures commercial outsourcing contracts with an annual contract value (ACV) of $5 million or more, totaled $4.8 billion, the second-highest third-quarter total on record but a decline of 6 percent from the third quarter of 2011 and 10 percent from the second quarter of 2012. Excluding the Atos-Siemens mega-deal awarded a year ago, third-quarter ACV would have been up 18 percent year-over-year.
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Exchange Income Corporation AGM presentationTMX Equicom
Exchange Income Corporation (TSX: EIF) is a diversified acquisition-oriented company, focused on opportunities in the industrial products and transportation sectors. The Company recently held its annual and special meeting for the fiscal year ended 2009.
The 3Q12 Global TPI Index, which measures commercial outsourcing contracts with an annual contract value (ACV) of $5 million or more, totaled $4.8 billion, the second-highest third-quarter total on record but a decline of 6 percent from the third quarter of 2011 and 10 percent from the second quarter of 2012. Excluding the Atos-Siemens mega-deal awarded a year ago, third-quarter ACV would have been up 18 percent year-over-year.
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Exchange Income Corporation AGM presentationTMX Equicom
Exchange Income Corporation (TSX: EIF) is a diversified acquisition-oriented company, focused on opportunities in the industrial products and transportation sectors. The Company recently held its annual and special meeting for the fiscal year ended 2009.
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"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
➢ SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
➢FreenBecky 1st Fan Meeting in Vietnam
➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
➢ Super Show 9 in HCM with Super Junior
➢ HCMC - Gyeongsangbuk-do Culture and Tourism Festival
➢ Korean Vietnam Partnership - Fair with LG
➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
2. Safe Harbour
Certain statements in this presentation, other than statements of historical fact, may include
forward-looking information that involves various risks and uncertainties that face the Company;
such statements may contain such words as “may”, “would”, “could”, “will”, “intend”, “plan”,
“anticipate”, “believe”, “estimate”, “expect” and similar expressions, and may be based on
management’s current assumptions and expectations related to all aspects of the wireless and
wireline telecommunications industries and the global economy. There can be no assurance that
any statements of forward-looking information contained in this document will prove to be
accurate. Actual results and future events could differ materially from those anticipated in such
statements. These and all subsequent written and oral statements containing forward-looking
information are based on the estimates and opinions of management on the dates they are made
and expressly qualified in their entirety by this notice. Except as required by applicable laws, the
Company assumes no obligation to update forward-looking statements should circumstances or
management's estimates or opinions change. Readers are cautioned not to place undue
reliance on any statements of forward-looking information that speak only as of the date of this
release. Additional information identifying risks and uncertainties relating to the Company’s
business are contained under the heading “Risk Factors” in WiLAN’s current Annual Information
Form and its other filings with the various Canadian securities regulators which are available
online at www.sedar.com.
Unless otherwise noted, all dollar amounts are in United States currency.
5/30/2012 2
3. WiLAN
• Leader in IP licensing
• TSX (WIN) and NASDAQ (WILN)
• Corporate headquarters in Ottawa, Canada
US headquarters in Miami, Florida
5/30/2012 3
4. Monetizing patents is becoming “business as usual”
• Growing awareness of the value of patents
• Companies exploring how to unlock value
5/30/2012 4
5. Business Model
REVENUE
INTELLECTUAL PROPERTY LICENSING
CORE GLADIOS IP
License owned patents License partner owned patents
WIRELESS ACCESS STRATEGIC/LARGE
TV & DIGITAL DISPLAY MEDIUM
CLOUD COMPUTING SMALL
5/30/2012 5
6. Business Model
Licenses owned patents Licenses partner owned patents
5/30/2012 6
7. Licensing Success
FY 2011 Settled all major
litigations from 2007 to 2010
19 COMPANIES LICENSED
6 Years of Backlog
5 YEARS OF BACKLOG
5/30/2012 7
10. Positive Earnings
Adjusted Earnings+ $71.5M
2011: 5th consecutive cash flow positive year
$4.8M $9M $4.8M
$2.5M
($5.9M) ($1.4M!)
($23.9M)
2004 2005 2006 2007 2008 2009 2010 2011
+ Adjusted Earnings are earnings from continuing operations before stock-based compensation expense, depreciation and amortization expense, interest expense, unrealized foreign exchange gains or losses, provision
for income taxes and certain other non-cash, one-time, or non-recurring charges
! Continuing operations
5/30/2012 10
11. Strong Balance Sheet
Net cash* $200M
Long-term debt $0
Deferred tax assets $22M
Annual dividend CDN $0.12
Share buyback (2011 and 2012) + CDN $14.6M
* At December 31, 2011, net of the cash required to retire the debenture in January 2012
+ Expenditure in FY 2011 and to date in FY 2012
5/30/2012 11
12. Q1 2012 Highlights
• Revenue of $24.7M, 14% above guidance
• Adjusted earnings of $15.4M, up 46% year
over year
• Quarterly dividend of CDN $0.03 per share
5/30/2012 12
13. Q1 2012 Highlights
• Launched litigation against Research in Motion
• Partner, 01Communique, launched litigation
against Bomgar Corporation
• Hired Chief Operating Officer, Michael Vladescu
• Established US Headquarters in Miami, Florida
5/30/2012 13
14. Q2 Financial Guidance
Revenue+ $19.7M
Operating Expenses $11M to $13.5M
Adjusted Earnings $6.6M to $9.1M
+ Actual revenues reported may exceed the guidance provided due to the receipt of royalty reports, signing of new license agreements
and completion of licensee audits, all after the guidance is provided.
5/30/2012 14
15. Number of Patents and Applications
Core Programs
3,000+
Large and Growing
Patent Portfolio
970
750
270 300
20
2006 2007 2008 2009 2010 2011
5/30/2012 15
16. Core Programs
Global Equipment Market - Percentage Unlicensed
Cellular infrastructure 70%
Handset 80%
Cloud computing 95%
TV & Display 70%
Wi-Fi, DSL, Bluetooth, other 15%
5/30/2012 16
17. Core Programs
Over $1.5 Trillion
Unlicensed Global Equipment Market - 5 Years*
Handsets
$920B
Cloud
Computing
TV &
Cellular $250B Display Wi-Fi, DSL,
Infrastructure $140B Bluetooth
$80B $40B
* Estimated using market research data from various sources including Display Search, Dell’Oro, Strategy Analytics, IDC, WiLAN
5/30/2012 17
18. License Opportunities
Prospects Products In Litigation Prospects Products In Litigation
Cellular Digital
Yes No
infrastructure televisions
Cellular Yes Cellular
No
handsets handsets
Cellular Cellular
Yes No
infrastructure handsets
Digital
Cellular No
Yes televisions
handsets
Digital
Cellular No
Yes televisions
handsets
Digital
Cellular No
Yes televisions
handsets
Cellular
Yes
handsets
Digital
Yes
televisions
5/30/2012 18
19. Gladios IP
• Established in 2010 as a
subsidiary of WiLAN
• Mandate:
• Form strategic licensing partnerships with
large, medium and small IP holders
• Establish customized licensing programs
• Generate significant licensing revenues
without necessarily requiring transfer of
title on assets
5/30/2012 19
20. Gladios IP
7 PARTNERSHIPS ADDRESSING LARGE MARKETS
REMOTE
ACCESS NETWORKING
TECHNOLOGY
ANNUAL MARKET
$100B+ ONLINE
GAMING
GAMBLING
INTERNET NETWORK
ADVERTISING ACCESS
5/30/2012 20
21. Strengthening Our Business
• Reduce agreement term
• US headquarters – Florida
• Continue to invest in R&D
• Divest non-core assets
5/30/2012 21
22. World-Class Team
Education and Designations*
Engineers 32
Masters/PhDs 27
Jim Skippen Michael Vladescu Shaun McEwan
CEO COO CFO
Lawyers 9
MBAs 3
Patent Agents 6
Accountants 2
Matt Pasulka Paul Lerner Dan Henry
VP Patent Senior Legal VP Business
Litigation Counsel Development
5/30/2012 22
23. Key Litigations
COURT: Texas
3GPP Case
Defendants
Technology HSPA
Mediation Markman – April 2012 Trial – April 2013
2012 2013
5/30/2012 23
24. Key Litigations
COURT: Texas
HTC Case
Defendant
Technology Wi-Fi, CDMA
Markman – February 2013 Trial – August 2013
2012 2013
5/30/2012 24
25. Key Litigations
COURT: Texas
Handset2 Case
Defendant
Technology Wi-Fi, CDMA
Markman – February 2013 Trial – March 2014
2012 2013 2014
5/30/2012 25
26. Key Litigations
COURT: New York
LG Case
Defendant
Technology V-Chip
Appeal Hearing – Q4 2012 (estimated) Trial – Q4 2013 (estimated)
2012 2013
5/30/2012 26