WATTSTOR LimitedInaugural 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

CHAIRMANPeter Cunningham

MANAGING DIRECTORMark Smith

OPERATIONS MANAGERMichael Danes

CHIEF TECHNICAL OFFICERRob Such

DESIGN ENGINEERTim Bunhill

Director’s Report

Mark Smith – Operations

P/T ADMINISTRATOR

TBC

Office – set up at TIC

Recruitment

Michael, Operations Manager

Tim, Design Engineer

Web copywriter contracted

Next team member, Administrator

Sales & Marketing Activity launched now team resourced

Next quarter focus – Sales

Installation

Branded batteries procured & in stock from China

2 Wattstors installed so far this month, 3 by end of month

Cost of sale to date

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

Mark Smith – Operations

Wattstor Imp V2

Expect initial prototypes mid November

Final prototypes ready for CE marking by end of year

Batch of 10 prototypes for field trials early next year

Wattstor Inverter/Charger

Likely to cost £100,000

BIF application stalled

Considering partnership with existing manufacturers

Director’s Report

Rob Such– Product Development

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

Office established & furnished

Equipped with IT, telecoms

All back-office systems and processes are in place

All business processes and procedures in place (sales, customer services, technical)

Accountancy software installed and day to day bookkeeping processes are in place

Management accounts currently being introduced

SALES & MARKETING

New website under construction

New sales brochure being designed

Monthly newsletter ready for introduction

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

Administration, Sales & Marketing– Michael Danes

CUSTOMER DATABASE

220 total subscribers to the website

14% increase (30) new subscribers since recent media articles have appeared in last two weeks

140 (64%) have opened their reply email

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

SALES/ & MARKETING PLAN

All subscribers to the website will have been contacted by 17th October either by phone or 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

Administration, Sales & Marketing– Michael Danes

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

Funding - Peter Cunningham

PR Achievements – Richard Best

News Press

News Press

Digital news media

Magazine feature

• Award entries

• Radio/BBC aware

• News – as it happens

• Could YOU be the next

case study?

PR – Richard Best

Agreement of a Shareholder Representative

Dates of meetings for next year

Any Other Business