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Business Plans

FeRmi2007 April V1.1

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Overview

Business Proposition / Mission / Value

FeRmi is a fabless semiconductor company providing integrated RF reader ICs and

reference solutions for low cost mobile RFID systems. FeRmi uses standard CMOStechnology in their designs for RF Reader ICs. These ICs conform to published standards

like EPC Class 1 Gen 2 and ISO 18000-6. This provides benefits to customers so that

low cost, integrated and mobile solutions can be realized. We aim to add value to our

partners in the RF Reader hardware market segment and enable leading edge solutions to

customers for portable applications in various industry segments such as HealthCare,Pharmaceutical, Logistics, Security Market and in the markets we serve.

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Technology

Brief description:

0.18m CMOS

High Integration Level

World-wide frequency range

Meeting EPC/ISO standardFlexible Operating Modes

Power Management Functions

SPI interfacePatents Pending

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Past

Present

RFID

Rea

der

(dis

crete)

Rea

derICSmall

size lowcostReader

Chipsets

Keyt

oRFID

Read

erCo

stRedu

ction

s

Thursday

Decemb

er8th

,2005

ABI

Researc

h

Future

http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/http://www.abiresearch.com/

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How it works / What it does?

Reader IC integrated a large number of components

Improved Design being fabricated mid April 2007

Design is highly matured and demonstrated in Reader application.

Ready for production.

UHF RFID Reader Module based on Reader IC

RW910MCU

20MHzCrystal

Oscillator

PABand-

Pass

Filter

1

2Transmit Data

SPI

Rx Data - I

Rx Data - Q

Antenna

Note:1. Optional

2. Instead directional-coupler can be used.

RW910MCU

20MHzCrystal

Oscillator

PABand-

Pass

Filter

1

2Transmit Data

SPI

Rx Data - I

Rx Data - Q

Antenna

Note:1. Optional

2. Instead directional-coupler can be used.

RW910

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Drivers & Opportunities

Small sizeSize reduction enabled by integration of components in a single chip

Possible integration into existing portable devices

Lower costIntegration in RF CMOS technology affords low cost

Versatility/FlexibilityRFIC can support EPC Class 1 Gen 2 / ISO18000-6B/C protocols

Other custom/proprietary protocols can also be supported

Various short/mid/long range solutions can be crafted at system levelAdjustable operating parameters

860-960MHz covers worldwide operation

Programmable bandwidth and data rate

Dense mode & Listen before talk mode supported

Power ConsumptionLower than discrete and thus enable portable/mobile applications

Reader IC Portable/Mobile Mass Market

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Competitive Landscape

Features A*/IME Coy W Coy I Coy SP Coy SS

Integration

Technology

Flexibility

PowerAvailability

High

CMOS

High

MidJan 07

Lower

SiGe

Low

HighOct 06

Higher

SiGe

Low

HighMar 07

Higher

CMOS

Low

HighMar 07

Based on information available in open literature

Higher

CMOS

Low

LowNot yet

best chip we have seen so far Customer Inputs

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Commercial interest / Customer Base

Large IDM interest -

NXP

Nokia

Texas Instruments

System Players Interest

Indentec

AWID

Ipico

Avery DennisonAlien

Intermec

China/Taiwan Players

PromaticPretide

Reader Makers

Asis

Ariannegar

Powersoftglobal

ImagemartCalcards

ATID

SmartID

End UsersMichelin

MediaCart

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Management TeamYWG - 11 yrs exp

B.Eng (EE), M.Eng (EE)

Deputy Head for an ICdesign & modeling groupof 50 staff

Successfully completed

several RFID related ICsand other RFICs

Experience incollaborating withcustomers & industrialpartners

Many years of hands-onexperience in design ofRF IC, Analog and Mixed-signal circuits

Experience in advancedpackaging for RFID

More than 20 publications& 7 patents in RF, mixedsignal circuits & systems

SYK - 28 yrs exp

B.Eng (EE), M.Eng (EE)

Founding Member ofUTAC. VP of R&D andQRA.

Founding Member of

Infiniti Solutions Pte. Ltd.Acquisition, M&Aexperience. Off shoreoperations experience.

Manager TexasInstruments WW MOSM

packaging development. Senior Member of

Technical Staff of TexasInstruments (1988)

Failure Analysis/Reliability/Calibration/

Chemical Lab Mgr More than 40 publications

& 8 patents in packagingand Test.

Another experienced team

member.

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The Technical Team consists of 6 IC designers and 2Senior Managers.

More than 10 years of RF experience on average

More than 5 years of experience on RFID on average

Invented/co-invented more than 10 patents. Also backed by IMEs IC design & modeling group

and pool of patents.

The Team Currently @ IME

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Past Experience of Core Team

Design RFID Related

UHF/2.45GHz Tag IC(0.35m CMOS)

Modeling

RF & HF Test Chip

Packaging/Integration

Multi-chip Module

Receive pathTransmit path

WCDMA IF

(0.35m CMOS)

Other RFICs

UHF/2.45GHz Tag IC(0.25m CMOS)

2.45GHz On-ChipAntenna Tag

(0.13m CMOS)

2.45GHz Tag

Companion Reader for 2.45GHz

On-Chip Antenna Tag

Reader IC for 2.45GHzRFID (0.35m CMOS)

2.45GHz CordlessPhone Transceiver

(0.35m CMOS)

Bluetooth Transceiver(0.35m CMOS)

Industr

yInd

ustry

Industr

y

Industr

yInd

ustry

Industr

y

World

sFirst

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Use of Investment

US$5M - Series A $2M and Series B $3M

1. Develop markets

2. Establish Supply Chain

3. Build Design Team

4. Establish a product portfolio and product roadmap

5. Design Wins and Generate Sales

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Financials

Source: ABI Research 2005

UHF Reader IC

Shipments growing at

CAGR of 135%

0

2000

4000

6000

8000

10000

12000

14000

'04 '05 '06 '07 '08 '09

HF Reader IC

UHF Reader IC

Microwave

Reader IC

In1

000

Al l in US$ Year 1 Year 2 Year 3 Year 4 Year 5

Sales Volume 10,000 40,000 105,000 320,000 500,000

Revenue 300,000 1,000,000 2,250,000 6,180,000 10,600,000

Gross Margin 80% 80% 80% 80% 80%

Operating Expenses 700,000 2,000,000 2,700,000 3,200,000 5,600,000

Profit (400,000) (1,000,000) (450,000) 2,980,000 5,000,000

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Y1 Y2 Y3

UHF Reader IC (lowcost, baseband

integration)

Development

UHF + HF Reader IC

Product Roadmap

RW910

Product

RW930

RW950

UHF + HF Reader IC

(security)

RW910F

RW930F

RW950F

Flip-Chip to

enable SD

applications ARM hi performance

80C51 low Cost

QFN low Profile

-low cost-48/56 lds

Cost Down Version1 5x5

drop Ind

Cost Down Version 2 4x4

drop unused/EMM

USB/Enet/Serial I/F

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Summary

Products

- RF Reader Single Chip -> baseband

TEAM

- Experienced team and backed by A*STAR/IME

Market Opportunity- Growing Market, driven by low cost tag and

low cost reader/ubiquitous application

Funds Required - $5M US

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8cm

Smaller than credit card with 2-layer board

TQFP 100pins

UHF Reader built with Reader IC

P C

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Press Coverage

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Growth Phases

Phase 1(6 12 mths)

Phase 2

(12 to 24 mths)

Get the chip to market

Minimum Staff 3 to 5

Technical work thru RCA with IME

10K units sales / $300K Revenue

Increase Staff No 5 to 8

2nd Gen product ready for sampling

Technical work thru RCA with RIs 40K unit sales / $1M Revenue

Phase 3 Break-even

Staff No 8 to 20

Full chip-design team in place

70K units sales / $2.25M

Generate

Sales

Full Team

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Key Activities and Milestones

Test Program Development

Finalize Design Improvements

Start WafersQualify Assembly Subcontractor

Qualify Test Subcontractor

Qualify Package and Device

Qualify Flip ChipHandheld Demo Unit

RFID Show

Target Design WinsRoadmap to Mass Market

Close Fund Raising