EFTA01748411.pdf

From: Nicole Jun p To: Ehud Bara J r y Cc: Epstein Jeffrey <Jeevacation©gmail.com> Subject: Re: Reporty Sent Friday, December 19, 2014 4:32:59 PM Hi Ehud, Thank you for your time and patience in walking through my questions which I found very helpful. Please find below my preliminary conclusions. Very evident that there is an unmet need in the marketplace and our World would be a much better & safer place with your solution. • The team has an impressive technical pedigree and I was also impressed with how driven and enthusiastic they appear to be • The technology appears to have a competitive advantage but you are in a far better position to judge this • In terms of looking at the financing, projections and operational rollout, I think there are some issues. In short my opinion is that the revenue projections seem somewhat ambitious in terms of timing and the cost side appears too low to me.They need support on the business side. • The imminent pilot projects are clearly crucial to the company and as a consequence my suggestion would be to defer or at the very least limit funding until there is further evidence on proof of concept post these initial pilots as well as some of the other items I have flagged. Hope this feedback is of help to you. I look forward to getting your revised detailed business plan, which may well reshape these initial thoughts. Happy Hannuka and Happy Seasons Best Nicole Original m From: Ehud Barak Date:18/12/2014 7: To: Nicole Junkermann I Junkermanngroup Cc: Epstein Jeffrey <Jeevacation©gmail.com> Subject: Reporty EFTA_R1_00043536 EFTA01748411 Hi Nicole Enjoyed "meeting" you yesterday over the phone. Thx for your advise and support. What is you impression? Looking forward. Happy Hannuka and Happy Seasons Best EB Sent from my iPhone EFTA_R1_00043537 EFTA01748412