To: Joichi Ito
From: jeffrey E.
Sent Wed 7/9/2014 9:44:10 PM
Subject: Re: Things
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: Thing
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,
David
EFTA_R1_00300199
EFTA01918740
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 jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved
EFTA_R1_00360200
EFTA01918741