From: "Jeffrey E." <[email protected]>

From: "Jeffrey E." <[email protected]> To: Joichi Ito Subject: Re: Things Date: Wed, 09 Jul 2014 21:49:23 +0000 use of funds, most importnat On Wed, Jul 9, 2014 at 5:48 PM, Joichi Ito c > wrote: I'll try to get his financial model. On Jul 10, 2014, at 06:47 , jeffrey E. <[email protected]> wrote: > doesn't say what roylaty rate applys before 65k units > On Wed, Jul 9, 2014 at 5:46 PM, Joichi Ito c > wrote: > OK. Why don't I dig in a bit more. I have some concerns about the injection molding manufacturing. I'm going to Shenzhen for 4 days to look at factories and meet people. I'm also concerned about the ramp up of the team. If I kick the tires and it looks good, I'll let you know and maybe we should do more. Thanks. > - Joi > On Jul 10, 2014, at 06:44 , jeffrey E. <[email protected]> wrote: > > I like the space , we can do more if you want > > On Wed, Jul 9, 2014 at 5:41 PM, Joichi Ito c > wrote: > > I'll be meeting with David soon to follow up. » Begin forwarded message: > > >>> From: David Smith >>> Subject: Re: Things >» Date: July 8, 2014 at 05:39:56 +0900 >» To: Joichi Ito < >>> >» Hi Joi, >>> >>> Lots happening. We should talk soon. >>> - I have the license from Lockheed (finally). 31 patents and patent pending. Pretty good deal but not cheap. $0.5M in 30 days. $1.5M in 200 days. Royalty rate is good - drops to 2% after 65k units. >>> - A NC investor group is interested in $5M. We told them $25M pre. They pushed back and had us meet with Blake Krikorian who knows you. He loved the product and positioning so I think we can hold our line on valuation. Blake also asked for a convertible note like yours. Should know about the NC group soon. >>> - Intel is looking at $1.5M convertible note. >>> - Met with Google and they said they were interested in an acquisition. No idea what valuation they are going to consider. Any ideas? >>> - Working with Flextronics on manufacturing. Very interesting group. No problem in scaling. >>> - Apple is interested in selling the device in their stores with an exclusive for the new iPad mini. October EFTA00993498 is a very big date with them. »> - Amazon is also interested and wants us to go to Seattle to meet their management. »> >>> That said, we need to raise money quickly so I need to expand my search. Help here would be very valuable. »> >» Best regards, >>> >» David »> »-- > please note > > The information contained in this communication is > > confidential, may be attorney-client privileged, may > > constitute inside information, and is intended only for > > the use of the addressee. It is the property of > > JEE > > Unauthorized use, disclosure or copying of this > > communication or any part thereof is strictly prohibited > > and may be unlawful. If you have received this > > communication in error, please notify us immediately by > > return e-mail or by e-mail to [email protected], and > > destroy this communication and all copies thereof, > > including all attachments. copyright -all rights reserved > Please use for venture related email > -- > please note > The information contained in this communication is > confidential, may be attorney-client privileged, may > constitute inside information, and is intended only for > the use of the addressee. It is the property of > JEE > Unauthorized use, disclosure or copying of this > communication or any part thereof is strictly prohibited > and may be unlawful. If you have received this > communication in error, please notify us immediately by > return e-mail or by e-mail to [email protected], and > destroy this communication and all copies thereof, > including all attachments. copyright -all rights reserved Please use for venture related email EFTA00993499 please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to [email protected], and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA00993500