Nine Iron Innovations, Inc.
dba – Charitee Golf
30275 Solon Road
Suite A3
Solon, Ohio 44139
David Greenspan, CEO
P - 440-248-6677
F – 440-248-1566
Ohio Venture Association
January 11, 2008
1
Executive Summary
Introduction to the Charitee System
The Charitee System uses a unique combination of automated solar powered
video monitoring, wireless technology, and touch screen applications so that
golf courses can offer hole-in-one, closest-to-the-pin, and other contests to
every golfer, every round, adding excitement, improving golfer satisfaction,
and increasing profits.
The Company is an Ohio C corporation founded 3 years ago.
Charitee has 4 FTE’s and 1 part-time consultant.
Charitee has raised $1,547,832.
NCAF
Jumpstart
Individuals
$256,252
$315,577
$976,003
2
PRODUCT
Technology
Charitee Golf is the industry leading provider of Hole-In-One and Closest-ToThe-Pin contests utilizing the latest in wireless, solar powered video
monitoring technology.
Kiosk
(Middle)
Video Monitor
Pole
Point of Sale System
The Company has a patent pending.
Charitee has 14 operational units in the field in 4 states. The Company is in
the final phases of testing version 2.0 of the hardware technology. This
version is expected to be deployed in mid Q1 of 2008 and is expected to
increase functionality, reduce installation and maintenance and
reduce overall costs by 30%.
3
MARKET
There are 12,600 daily fee golf courses operating in the United States.
Charitee estimates that about ½ are potential customers – ones that
meet our selection criteria.
Competition – none in the automated video monitoring arena.
MANAGEMENT TEAM
David Greenspan - Chief Executive Officer
David Greenspan has over 12 years in entrepreneurial businesses and 5 years experience in the golf industry. Dave was
formerly the Executive Vice President and Chief Financial Officer for ExchangeBlvd, an on-line auction site provider for
golf, musical instruments and jewelry. Mr. Greenspan has also served as the Chief Operating Officer for The PGA TOUR
Radio Network.
Steve Hiltebrant - Director of Sales
Steve Hiltebrant has 10 years of sales and marketing experience and recently held the position of Vice President of
Marketing and Direct Sales at Hiltebrant Industrial Sales. Steve comes to Charitee Golf with a background that consists
of the perfect combination of both sales and golf industry experience.
David Allen - Director of Technical Operations
David Allen brings over 30 years of technology experience and directs the deployment and improvement of the Charitee
System. David was formerly Lead Engineer for Steris Corporation and Laboratory Manager for Hexagram Incorporated..
4
FINANCIAL HIGHLIGHTS
Total Systems
Gross Revenues ($000)
Gross Margin ($000)
EBIT ($000)
2008
55
$1,560
$702
2009
180
$6,402
$2,916
($7)
$1,903
SERVICE TEAM
Attorney:
Porter, Wright, Morris & Arthur
Accountants:
SS&G
Bank:
NationalCity
Current Investors:North Coast Angel Fund
JumpStart
IMG
Individuals
5
CAPTIAL REQUESTED
Amount of Financing
$615,000
$7.50
Price per Share:
Minimum Investment
$10,000
Type of Security:
Series A Convertible Preferred Stock
PLANNED USE OF FUNDS
Total
$615,000
Hardware Installation Costs
(21 units x $17,000 per unit)
$357,000
Operating Activities
$258,000
6