From: "Jeffrey E." <jeevacation@gmail.com>
To: Joichi Ito
Subject: Re: Things
Date: Wed, 09 Jul 2014 21:47:46 +0000
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. <jeevacation@gmail.com> wrote:
> I like the space , we can do more if you want
> On Wed, Jul 9, 2014 at 5:41 PM, Joichi Ito 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 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,
EFTA00993494
» David
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