The company aims to deliver an innovative, low-cost colonoscopy solution called EndoNav's RigiFlexTM disposable Over-the-Scope (OTS) device that eliminates the need for painful sedation and increases procedure throughput. The solution addresses problems with traditional colonoscopy scopes that cause looping and damage to the colon. It is estimated to decrease procedure time, increase revenue, reduce complications, and have a shorter learning curve for physicians. Financial projections estimate the company will have positive net income within 3 years and an overall internal rate of return of 99%.

1. EndoNav Colonoscopy Made Easy Babak Pahlavan Arnav Sharma Ankur Prasad Benjamin Kaun Randal Truong

9. Target Customers Early Adopters : HMO & Teaching Hospitals Early Majority : General Hospitals Laggards : Private Physicians

11. 5-Year Financial Projections 2004 2005 2006 2007 2008 Revenues Total Colonscopies - - 8,969,898 9,687,490 10,462,490 Market Share 0.00% 0.00% 0.11% 0.97% 2.56% Colonscopies - - 9,867 93,969 267,840 Revenues $ 1,480,033 $ 14,095,298 $ 40,175,962 COGS - - 592,013 5,638,119 16,070,385 Gross Profit $ 888,020 $ 8,457,179 $ 24,105,577 Fixed Costs Employees 4 10 12 20 30 Labor Costs $ 480,000 $ 1,200,000 $ 1,440,000 $ 2,400,000 $ 3,600,000 Investment Capital 600,000 2,500,000 780,000 300,000 300,000 Overhead Costs $ 300,000 $ 300,000 $ 300,000 $ 300,000 $ 300,000 Total Fixed Costs $ 1,380,000 $ 4,000,000 $ 2,520,000 $ 3,000,000 $ 4,200,000 Pre-Tax Income ($1,380,000) ($4,000,000) ($1,631,980) $5,457,179 $19,905,577 Tax $ - $ - $ - $ 2,182,872 $ 7,962,231 Net Income ($1,380,000) ($4,000,000) ($1,631,980) $3,274,307 $11,943,346 Valuation $ 81,857,682 $ 298,583,654 Assumptions Price $ 150 COGS $ 60 Fully Loaded Employee/year $ 120,000 Industry PE Ratio 25 Income Tax 40%

12. The Team