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Iq Bio Business Plan

Iq Bio Business Plan

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Published by Benjamin Popper

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Published by: Benjamin Popper on Aug 09, 2011
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12/28/2013

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IQBIOMETRIX, INC.EXECUTIVE SUMMARY BUSINESS STRATEGYMarch 27, 2011EXECUTIVE SUMMARYCompany (Summary):
Executive Summary: IQBiometrix, Inc. (IQB) is the leading facial composite (face building) softwaretechnology company. It was first developed in the mid 1990’s in cooperation with developers fromMontreal, Canada. As part of the development process, IQB captured 9 issued patents, and oneoutstanding open patent, which covers face building and electronic transmissions, which has broadapplication into the avatar sector. The software, FACES™, has a worldwide audience, and is issuedin three languages, English, French, and Spanish. The company has three operating divisions: 1)Software sales to law enforcement and educational markets, 2) IP protection and litigation, and 3)online game and downloadable applications. Although IQB has been self-funded to-date, thecompany is currently opening up an investment opportunity to take advantage of rapidly developingevents in all three of its operating divisions. See our website:www.facesid.com.
Marketing Summary:
Our key marketing strategy is to leverage our assets across our three divisions in an integratedcampaign.
Management Summary:
Our management structure is our greatest strength, as outlined in the detail below. We haveinvested years in assembling “best of breed” solution providers in all three of our operating divisions,in order to maximize the monetization of our unique blend of technology assets.
Competitor Summary:
Our integrated unit consisting of three operating divisions is unique in its configuration. It has nocompetitors. We feel a major buyer will be able to strategically deploy our assets against competitorsin its marketplace.
Daily Operations Summary:
Our daily operation strategy is to outsource all operations in each of our operating divisions. Weprovide executive level oversight of our operational activities.
Capital Requirements:
Funding Structure: We are looking for a $1 million line of credit, secured by the assets of thecompany.
(UPDATE AS OF 3/26/11: Our monetization strategy is working. Our current needsprobably won't exceed $500,000).
 
Repayment Summary:
The loan repayment will come from a variety of revenue centers, listed in the detail section below.
 
BUSINESS STRATEGY DETAILMission Statement:
To maximize the monetization of an array of software, gaming and intellectual property assets thathave an integrated focus around face building technology.
Vision Statement:
Our vision is to bring to maturity the assets of the company for ultimate sale to a major company inthe relative near term of 1-2 years.
Company (History):
IQBiometrix, Inc. originated in the mid 1990's with a concept to develop a game around the buildingof faces as a software program. It evolved into a law enforcement tool widely used to duplicate theskills of a police sketch artist. The company did its initial development work in Montreal, Canada. Itmoved to Fresno, California in 2001 to be near the criminology department at Fresno StateUniversity. It was acquired by the current ownership in an asset sale in January, 2008. The companynow resides in Houston, Texas.The company has three operating divisions:1. An intellectual property division that contains a family of 10 patents, nine issued and one currentlyfiled with the USPTO, waiting to be issued. The patent portfolio, dating back to 1995, controls awide application in face building and electronic transmittal of facial images.2. A software division: FACES(TM) 4.0 LE (Law Enforcement), as our software is called, hasemerged to become the leading facial composite imaging software tool used by law enforcement.Our FACES 4.0 EDU is used by leading criminology departments.3. A gaming division: Our FACES game can be played at www.amw.com. Just scroll down to thebottom of the page. John Walsh navigates the game.
Company (Objective):
Our business objective has been to bring the integrated assets to a level of maturity that would makethe venture attractive as an acquisition. Our challenge has been to acquire the expertise needed tofully exploit a unique set of assets. After years of searching, we have finally amassed a highly skilledteam. We are now "hard launching" in all three of our major divisions. We expect our venture willhave matured within 18 months to be purchased by a major company.
Company (Ownership):
The company is owned by the following private individuals, each owning 50%: Greg/Nancy Micekand Bill Scigliano. There is no intended change to the ownership structure.
Company (Staff Training / Experience):
The company management structure is a combination of an in-house executive team, andoutsourcing to qualified, "best of breed" firms with specialized expertise in the areas required. Theinternal management team is led by:1
. William Scigliano
, CEO. William (Bill) Scigliano is the Founding Partner of Scigliano Group, LLC,an international company specializing in early stage technologies, investments, mergers andacquisitions, and intellectual property strategies. Scigliano Group focuses on clients in multimediadigital and social media, mobile applications, entertainment and gaming. The company’s offices arein Los Angeles, CA and Las Vegas, NV. Prior to founding Scigliano Group, William was a successful
 
C-level executive. He was formerly the Chairman of the Board for Wherify Wireless, Inc., aCalifornia-based developer of GPS software and services and has served on a number of BoardsAgencies and Commissions Mr. Scigliano was CEO of IQ Biometrix, Inc. (NYSE), a provider of digital face technologies based in San Francisco, California. He drove the endorsement andlicencing of IQB technology by thousands of agencies worldwide, and led the company’s eventualacquisition. Additionally, Mr. Scigliano developed and managed FOX television’s first websitewww.amw.com featuring America’s Most Wanted, the investigative series hosted by John Walsh andhas been an technology advisor to crime and drama television shows including CSI, CrossingJordan and CNN. Before joining IQB, Mr. Scigliano worked for eight years as an Executive Director,Attorney General in BC. Mr. Scigliano currently serves as an executive advisor to the U.S. NationalAssociation of Attorneys General in Washington DC (NAAG & CWAG) and the Committee of Western Attorneys General in Sacramento. He has a joint MBA /Law degree (with honors) from theUniversity of Oregon 1984 and a Bachelor of Arts. His linked in profile can be viewed at:http://www.linkedin.com/profile/view?id=13089597&authType=name&authToken=EXZp&goback=%2Econ.2.
Greg J. Micek
, Director of Corporate Development.As a principal in his own managementconsulting and merchant banking firm, The Micek Group, Mr. Micek has acquired over 22 yearsexperience in various corporate development roles with emerging companies, including serving onvarious boards, as well as in CEO and CFO management positions. Mr. Micek targets emergingcompanies in need of management support and early stage financing. Prior engagements includeextensive work in managing business turn-a-round and rapid growth situations. He has particular experience in taking private companies public through both reverse merger and spin-off strategies.In the area of technology transfer, Mr. Micek has worked with many inventors in monetizing their invention. He has also developed two small business incubating environments. View his LinkedInprofile: http://www.linkedin.com/in/gregmicek. 3.
Nancy Micek
, President, Chief Operating Officer, Controller. Nancy has extensive experienceworking at an operating level with small and, in a divisional role, large companies.
Outside business partners:
 
1.
Software division:
 
a.
Aptia Solutions
. See www.aptia.com. Aptia is charged with developing the nextgeneration of our software, FACES 5.0. This version is building an online version onthe silverlight platform.
2.
 
Gaming division
:
a.
Online game:
Our online game can be viewed on the America's Most Wantedwebsite, www.amw.com. Just scroll down to the bottom of the home page and playthe game.
i.Partners:
1.
FOX Network.
As the parent owner of America's Most Wanted, FOXhas entered into a revenue sharing agreement with our company topromote the game on the website and throughout it's various mediaproperties. Through it's programming asset, America's Most Wanted,we have had the good fortune to have had John Walsh as an activeendorsement of our law enforcement software.

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