WATTSTOR Limited Inaugural Shareholders Meeting Friday 10th October 2014 Agenda 1. Introductions and apologies for absence 2. Annual accounts for the first year ending 30th June 2014 3. Director’s remuneration 4. Director’s report. Peter Cunningham – Overview Mark Smith – Operations, installations & ZLC interface Rob Such – Product development 5. Office Administration, Sales & Marketing - Michael Danes 6. Funding - Peter Cunningham 7. Public Relations - Richard Best 8. Any Other Business Introductions and Apologies for absence Annual accounts for the first year ending 30th June 2014 Director’s remuneration Director’s Report Peter Cunningham – Overview Overview and the Wattstory so far Trademark update Director’s Report Mark Smith – Operations CHAIRMAN Peter Cunningham MANAGING DIRECTOR Mark Smith CHIEF TECHNICAL OFFICER Rob Such OPERATIONS MANAGER Michael Danes P/T ADMINISTRATOR TBC DESIGN ENGINEER Tim Bunhill Director’s Report Mark Smith – Operations Office – set up at TIC Recruitment Installation Branded batteries procured & in stock from China Michael, Operations Manager Tim, Design Engineer 2 Wattstors installed so far this month, 3 by end of month Web copywriter contracted Cost of sale to date Next team member, Administrator Sales & Marketing Activity launched now team resourced Next quarter focus – Sales Battery cost reduced Current pricing validated Base cost improved through better procurement Future Cost of sale Detailed evaluation of next 10-20 installs prior to pricing review Director’s Report Rob Such– Product Development Wattstor Imp V2 Wattstor Inverter/Charger Expect initial prototypes mid November Likely to cost £100,000 BIF application stalled Considering partnership with existing manufacturers Final prototypes ready for CE marking by end of year Batch of 10 prototypes for field trials early next year Patent Wide scope takes 2-3 years Narrow scope within a year Can get Patent Box tax relief Protect our core intellectual property Cost approx. £3,000 for UK patent Additional countries are similar cost each Administration, Sales & Marketing– Michael Danes ADMINISTRATION SALES & MARKETING Office established & furnished New website under construction Equipped with IT, telecoms New sales brochure being designed All back-office systems and processes are in place Monthly newsletter ready for introduction All business processes and procedures in place (sales, customer services, technical) Currently identifying trade shows and events to attend Actively raising the profile of WATTSTOR through local business networks Customer database has been updated to improve and speed up the delivery of sales Accountancy software installed and day to day bookkeeping processes are in place Management accounts currently being introduced Administration, Sales & Marketing– Michael Danes CUSTOMER DATABASE SALES/ & MARKETING PLAN 220 total subscribers to the website 14% increase (30) new subscribers since recent media articles have appeared in last two weeks All subscribers to the website will have been contacted by 17th October either by phone or email 140 (64%) have opened their reply email 2 WATTSTORS installed since the beginning of September 3 surveys completed in the last 2 weeks. 2 additional surveys booked in. Targeting 10 per week by the end of November Targeting a conversion rate of 20% from survey to install Sales activity to be reinforced by arrival of the new website and improved sales literature Marketing events planned 30% then go on to revisit and investigate the site further Call cycles will be in place and all people on the database will have up to date records enabling regular follow-ups Funding - Peter Cunningham First round funding update SEIS scheme – forms completed & returned to HMRC All shareholder updates submitted to Companies House Share certificates Shareholder agreements Proposal for second round funding PR Achievements – Richard Best News Press News Press Digital news media Magazine feature PR – Richard Best • Award entries • Radio/BBC aware • News – as it happens • Could YOU be the next case study? Any Other Business Agreement of a Shareholder Representative Dates of meetings for next year