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Private and Confidential1

Disclaimer

We Improve Lives Using Our Proprietary Technology And Ethical Testing

Standards

Private And Confidential. All rights reserved by Midana Capital Inc. Modification and changes are not prohibited by other party.

Investor Pitch - Private And Confidential. All rights reserved by Midana Capital Inc

Problem / Opportunity Value Proposition Business Model Competitive Analysis Management Team Financial Projections & Key Metrics Current Status, Accomplishment-to-date

Timeline & use of funds



(From left) Mr Tan Ming Jie, Mr Daniel Tan and Dr Kelvin Chong - founders of DeNova Sciences - havegrown skin models in plates from human skin cells. They believe the models offer a better alternativeto animal testing when it comes to chemicals and products used on the skin.

Dr Chong Han Chung, Kelvin (PhD CTO Specialized in molecular biology analysis)

Mr Tan Ming Jie (MSc COO Specialized in in-vitro skin modelling)

Mr Daniel Tan (BSc CEO Business Development)

DeNova Sciences Pte Ltd, a spin-off company from Nanyang Technological University, provides

the best range of artificial skin model as well as tissue scaffolding suitable for rigorousclinical testing. DeNova Sciences offers services for product testing, validation or co-development using our proprietary range of in vitro DNSkin™ models. The DNSkin™ models arecarefully cultured in a serum-free environment with our chemically defined DNMedia™formulated for optimal growth.

We Improve Lives Using Our Proprietary Technology And

Ethical Testing Standards

http://www.denovasciences.com/

DeNova Sciences is a Nanyang Technological University spin-off Company in year 2012.


http://biotechin.asia/2015/07/01/denova-sciences-the-one-stop-solution-for-dermatological-testing/ Private And Confidential. All rights reserved by Midana Capital Inc. Modification and changes are not prohibited by other party.

http://www.straitstimes.com/singapore/trio-go-skin-deep-to-reduce-animal-testing

Interviewed by ST : Trio go skin deep to reduce animal testing

When a substance is tested on an animal or a human, there might be variations that

influence the results. "But for our model the cell number, the media, condition that the skinis set to grow, is kept the same. Everything is standardised to one platform," said DrChong, 33.

Not only will errors be minimised, it will also save mice which would otherwise have been sacrificed in the process

They’ve started with skincare companies and currentlyhave two cosmetic giants as clients. The team is alsoworking with universities and other institutions onvarious research projects.

So far, the company has successfully developed five skin

models: pigmented skin, dry skin, normal skin, skinwith cancer and adipogenic skin - meaning skin withan extra layer of fat. The scientists are now working ondeveloping models for ageing and wrinkled skin.


The Problem & Opportunity


TYPES OF ANIMALS TESTS CURRENTLY PERFORMED

Eye Irritancy Acute Toxicity Repeated Dose Toxicity Skin Corrosivity/Irritation Skin Sensitization Pharmacokinetics/Toxicokinetics

and Metabolism Dermal Penetration Mutagenicity Carcinogenicity Mutagenicity Carcinogenicity Reproductive and Development

Toxicity Neurotoxicity Ecotoxicity

SHAMPOOAverage number of Chemicals 15:

EYE SHADOW Chemical: 26

LIPSTICK Chemical: 33

BODY LOTION Chemical: 32DEODORANT

Chemical: 15

FAKE TAN Chemical: 22

BLUSH Chemical: 16




The animal welfare organization PETA recentlydiscovered that Kikkoman Corporation, a leadingsoy sauce maker based in Japan, has been“conduction and funding cruel and deadlyexperiments on animals in order to makehealth claims about its products.”

$150 million spent on tests that torture animals, don’t help humans


Solution & Advantage


“Since the 80's, L’Oréal has invested €900 million in researching alternatives to animal testing for product safety, using methods such as

reconstructed skin models, like the Episkin model[27] at their research centers in Gerland, France, and Pudong, China.[28]Nevertheless, this is complicated by markets such as China,[29] where animal testing of all cosmetics for human use isobligatory.[30] Cosmetics by brands such as The Body Shop, which refuses to do animal tests, are thus not available on the Chinese market.

In 2013, L’Oréal was part of a consortium calling on the EU to invest more in research on alternatives to animal testing.”


Solution & Advantage

What is the technology used by Denova Sciences? And what are theservices offered by Denova Sciences?

“We provide the best range of artificial skin model as well as tissue scaffoldingsuitable for rigorous clinical testing. Our skin model is 3D. The services we offerinclude product testing. Validation and co-development using our proprietaryof in in vitro DNSkin Model.”

https://en.wikipedia.org/wiki/L'Or%C3%A9al#cite_note-27

https://en.wikipedia.org/wiki/Pudong


https://en.wikipedia.org/wiki/L'Or%C3%A9al#cite_note-bweekchina-29


Competition


The Market

International Multinational Companies

Academia

Research Institute

Industrial Companies

Existing Clientele Portfolio & BSL2 Lab Facilities


Milestone & Pipelines

Up to date year 2015 revenue SGD600,000, expecting SGD620,000 end of year 2015

Started one range of product & currently pilot testing for one of the Global Top 10 Fortune 500

Started one range of product & currently pilot testing for one of the Global Top 10 MNC

Collected SGD100,000 fees from another Fortune 500



Milestone & Pipelines

SEA First Regulatory Body for Alternatives Animal TestingOn-going process of setting up a S-Cam with local authority making it a primary choice of regulatory body in SEA as Singapore is well recognized for it’s compliance.To be the 1st regulatory in SEA, currently none except EURL ECVAMIt will further increase the range of test available & price of test / report acquired from Denova.

Currently being supported by NTU & Singapore Polytechnic

Launching aging & wrinkled skin late 2015.Production of media *completed* started selling

On-goingHaired skinGrafting skin


SWOT Analysis

● Proprietary technology in Singapore

● Good established clients portfolio

● Strong R&D team and has collaborated with the academia and research

institutes thus we can provide more proprietary or improved skin models/

technologies in the near future

● Our customers are usually loyal as they required a standard testing platform

for their product or formulations testing, thus we only need to target new

customer in order to grow our business

STRENGTH

OPPORTUNITY

● Expansion to SEA and India markets

● There is few companies providing contract research service for cosmetic

product testing in the Southeast Asia region

● Deadline for the bans on using animal for cosmetic testing approaching fast,

the need to find more alternative way to animal testing escalated

exponentially.

● Singapore is placing more importance and funding in the advance healthcare

industry and safety regulations, we are confident of using our capabilities

and expertise in this area to break into this in-demand market.

WEAKNESS

● Two existing competitors globally

● Denova Sciences’ skin model must be prepared upon

requests. Each skin model will take about 3-4 weeks to

develop, however this procedure allow chemical or

ingredient to be added during the skin development

stage.

THREATS

● Competitors expanding into SEA

● MNCs such as L’Oréal have seen them actively acquired companies

of key expertise in the field of dermatology and tissue engineering

like EPISKIN and INVITROSKIN. P&G is the most recent to step into

Singapore setting up its own research center to extend its cosmetic

product research and development while J&J has begun to co-fund

collaboration with several A*STAR groups in an attempt to

accelerate its own research development.

Currently ASEAN region there are no similar company in this industry. Euro region L'Oréal, however other party do not approach them & do not provide model plus service.


Revenue Model & Profit Margin

For example:P&G has at least 21 brands & each brand have at least product range average of 4.Full Tier $500,000 x 21 x 4 is a $42 million revenue. Cosmetic world product changes so often making lab test essential time to time.

Tier 1 $100,000 x 21 x 4 is a $8.4million revenue.

Above revenue example derives from only one company. Price may differ from different skin type test like pigmented skin, fatty skin, dry skin, skin with bacteria, cancer skin cells & more

Profit Margin :50% - 80%

Tier 1 *cultured DNskin* : $ 50,000-$100,000Tier 2 *cultured human-skin* : $150,000-$250,000Tier 3 *actual live human test* : $300,000 & above


Seed Fundraising 800K

Equipment Acquisition

Media Production

Ecvam & OECD Certification

Operational Manpower

Business & Market Development

Cash-Flow Operation


Valuation & Shares Structures

DeNova Science Valuation @ $8,662,500Base Price $50.00 per shareCall Option Buy-back 36 month>Annual dividend payable from net profit of year 2016 onwards

ShareholderNo of

SharesIssued Share Capital ($)

Percentage

Shareholding

Daniel Tan 66,000 66,000 32.59%

Kelvin

Chong33,000

33,00016.30%

Tan Ming Jie 33,000 33,000 16.30%

Frankie Lee 22,500 50,000 11.11%

Andrew Tan 8,250 12,500 4.07%

NTU 6,000 0 (Exclusive License) 2.96%

Midana 4,500+ 200,000-400,000 2.59%

Total 173,250 100%

Call Option Buy Back($-11.90; $ 238

Entry Price

Entry A : $65 @ 160 Shares $10,400

Entry B : $69 @ 80 Shares $ 5,520

Entry C : $72 @ 40 Shares $ 2,280

Entry D : $75 @ 20 Shares $ 1,500

Entry A : $56.10

Entry B : $55.10

Entry C : $54.10

Entry D : $53.10


Exit Plan & Revenue Forecast

2015 2016 2017 2018 2019

Sales $620,000 $1,250,000 $3,000,000 $5,200,000 $7,600,000

Reagents (materials) $108,500 $218,750 $525,000 $910,000 $1,333,000

Net Sales $511,500 $1,031,250 $2,475,000 $4,290,000 $6,270,000

Manpower $195,000 $299,000 $442,000 $574,600 $746,980

Rental & Utilities $24,000 $26,400 $100,000 $110,000 $121,000

Professional $25,000 $50,000 $50,000 $100,000 $100,000

Depreciation $20,000 $25,000 $50,000 $75,000 $75,000

Total $264,000 $400,400 $642,000 $859,600 $1,042,980

Net Profit $247,500 $630,850 $1,833,000 $3,430,400 $5,227,020

Dividend 2.6% share - $16,402(8.2%) $47,658(23%) $89,190(44%) $135,902(67%)

PE x10 EXIT X1.25 X3.5 X5

**Table above is base on an average forecast & is for reference purpose onlyminimal growth factor excluding other services like biomaterial evaluation, histology sample preparation, medium distribution, biological functionality, skin markers & etc1 range of product without full range from cosmetic MNCFull tier skin testing beginning only at year 2018 onwardsPrice may differ from different skin type test like pigmented skin, fatty skin, dry skin, skin with bacteria, cancer skin cells & more.

Exit Options

a) Merger & Acquisitions

b) Trade Sales

c) IPO

d) Dividend

e) Other series funding

f) Buy-back


可伸缩的数据驱动可持续的绿色

NTU 孵化公司

A Scalable Data-Driven Approach for Sustainability

EverComm Uni-Tech is a NTU-backed start-up that focuses on energy efficiency for enterprise businesses.

Using wireless sensors, the Internet of Things (IoT), and big data analytics, EverComm can Analyse, Control, Troubleshoot, Predict all electric

activity, sense climate changes, traffic changes & all unusual activity. All can be achieved wirelessly & automatically.

Help large enterprise client to manage data as a strategic resources, closely coupled with the process to facilitate and produce products.• Define Energy KPI• Consolidation & Management of Data Supply Chain• Reduce Manual Effort of Curating Data by Automation (Quick Feedback)• Initiate & Implement Energy Profile• Design & Deploy "Measurable" Solutions (Data-centric)• Finding the right balance between KPI and ROI

Develop and execute product and solution strategy that support scalability and rapid growth• Define Energy Analytic Framework• Establish Problem Solving Ecosystem with Government, Research Institute and MNCs• Commercialization of NTU research via licensing• Value Based Pricing Business Model Development• End-to-End Solution & Product Design Details• Long-term Strategic Responsibility for Company's Technology Roadmap


Founded year 2014Founder : Ted ChenNumbers of Staff : 7


Founder

Ted Chen Chiu-Hao I CEO of EverComm I Age 25

Awarded first place out of 80+ teams for the 7th CodeXtreme 24-Hours Programming Competition (Open Category). Organised by the Information Technology Standard Committee (ITSC), an industry partnership supported by iDA Singapore and SPRING Singapore.

Winner of The 8th World Entrepreneurship Forum Lion's DenWorld Entrepreneurship ForumOctober 2015A panel of 5 experienced Lion investors asses the startup's innovative business strategy. The crowd is invited to vote for the startupof their choice and nudge their favorite startup in the right direction.

- Baybars Altuntas: President of the Business Angels Association of Turkey, president of Deulcom International, VP of the European Trade Association for Business Angels. (Turkey)- Manoj Sharma: MD of DifferWorld Pte Ltd and of CusJo.com. (Singapore)- Paulo Andrez: President Emeritus EBAN (European Business Angels Network). (Portugal)- Min Zhu: Co-founder, former president and chief technological officer of WebEx. (China)- Cheng Houbo: CEO of Oriental Fortune Capital. (China)

NTC Director's ListNanyang Technopreneurship Center, Nanyang Technological UniversityJuly 2015The Director's List is awarded to students who achieved excellent academic results. The award is presented to the recipients on the day of the convocation celebration organised by Nanyang Technopreneurship Center (NTC).

First Prize for NTC x DFJ-DragonFund x Splashtop Growth Strategy ChallengeNanyang Technopreneurship Center, Dragon VentureMay 2015Awarded first place for being the most practical and feasible (able to implement solution within 3 month without major changes to existing company structure). The challenge was given by Splashtop Co-Founder and CEO, Mark Lee in Silicon Valley to come up with new applications for business growth and customer acquisition.

First Prize for NTC TP6010 Business Plan Competition Nanyang Technopreneurship Center, Nanyang Technological University April 2015Many more…


Management Team

Chen Chiu-Hao (Ted), Co-Founder

- Specialized in Power System & Renewable Energy, Awarded TECS POV S$500,000,00

- Top 100 Student Entrepreneur Selected for Stanford Entrepreneurship Bootcamp,

- 1stPlace for Singapore 7th CodeXtreme 24-Hour Hackathon.

- Specialized in Real-time Algorithm Development And Data Analytic Processing Tools,

- 1st Place for Singapore 7th CodeXtreme 24-Hour Hackathon. Experienced as researcher at NTU and A*Star.

Phyo Ko Ko, Co-Founder

- Ph.D in Industrial Engineering and Master in Statistics (Tsinghua University), 20+Years of Industrial Experience Handling Clients such as TSMC, Qualcomm, Micron,SSMC, UMC and more.

Alex Hsu, Chief Data Scientist

- ex-IBMer involved in conceptualizing and developing high impact innovation application for IBM’s Watson for MNC clients

Velan, Director (Energy Partnership)


Problem / Opportunity

Incomplete Data Missing key data to understand and monitor Efficiency

Incorrect Data Decision making based on uncalibrated sensor data

Energy Wastage

Resources Wastage

Money

Value Proposition How It Works?

Identify existing data inconsistency and lead to actionable insight

Provide prescriptive recommendation through machine learning & optimization with uncertainty

Scalable plug & play wireless sensor node for missing data

Analytic Engine to take ownership of End-To-End Efficiency


The Technology

Evercomm Sensor

Data Processing Firmware

Data Transmission Software

Data Validation & Correlation Engine

Data Access Interface

Evercomm Energy Analytics EngineEvercomm Data Quality Product Suite

We Provide Data Solution Which Are Ready for Advanced Analytics


Competitive Advantages

Local Research and Innovation

Showcasing An Integrated Platform Solution Pioneering Smart Home Concept & Implementation Under Infocomm Development Authority (IDA)of Singapore At CommunicAsia 2015.

Government Agency University Research Commercialization

Showcasing An Integrated Platform SolutionPioneering Smart Home Concept & Implementation Under Infocomm Development Authority (IDA) of Singapore At CommunicAsia 2015.

Government Agency University Research Commercialization


Competitive advantages


Competitive Advantages



Industry Involved

Industrial• Semiconductor Plants• Manufacturing Plants

Large Campuses• University Campus• Eco Campus• Science Park

Renewable Energy Integration• Solar• Wind

Government Buildings

Analytics Sectors Involved (IoT Wireless Sensor Network)

Green Data Center Analytics

Solar Energy Analytics

Wind Energy Analytics

Building Energy Analytics



Business Model (Existing Client)

Fortune 500 / MNC SMART Campus

Action:

Validate And Identify Incorrect Data. Capture Missing Data

Outcome:

Define Operations KPI, Better CAPEX UtilisationAnd Energy Optimisation on S$3 MillionDollar Monthly Electricity Bill ($)

Action:

Design And Implement Campus-wide Sensor Network Data Collection Infrastructure

Outcome:

Responsible For S$4.8 Millions Dollar Total Energy Saving Over 7 Years

EverComm has earned revenue of over S$1M to date, and received revenue of $350K in October 2015, for completion of an overseas project.

With clients located in Singapore, Taiwan, China, and Thailand, EverComm will continue its expansion by targeting markets in USA, Germany, India, and Malaysia.

With a dedicated team of engineers, scientists, and computer developers totaling more than 30 years of industry experience, EverComm is poised for further growth in the future.

Pipeline Projects

Working with one of the authorities in creating smart town Energy Management & Monitoring - Solar panel energy management- Energy KPIs- Maintenance management

Smart Urban Habitat (Stage 2)- Consultancy service to develop a smart urban habitat master plan;- Design, Build & Operate The Smart Hub; And- Consultancy service for smart initiatives deployment

Transformative Energy FrameworkUsing big data analytic (grey box and black box approach) to predict and manage uncertainty parameters such as environmental temperature caused by weather and others in order tooptimize energy consumption. The application has been successfully piloted at NTU Green Data Centre and received good recognition from Energy Market Authority.

Data Centre Energy ManagementAim to reduce PUE *power usage effectiveness*Partnership with 4 Giant company in Singapore.


Go-To-Market Strategy (Blueprint)

- Singapore-based consortium working with IDA and HDB on next generation smarthome concept. Proposed concept was prototyped and showcase at CommunicAsia2015 under IDA Smart Nation Initiative.

Singapore Manufacturing Consortium (simco.sg), Founding Member

- All members are top Singapore based venture-backed startup with revenue. Eachstartup focusing on a specific domain related to manufacturing such as energy,manpower optimization, logistics and more.

Singapore Green Datacenter Consortium, Consortium Lead

- Singapore-based consortium working on IDA next generation green data center.Members are from diverse backgrounds, including Nanyang Technological University,Arcstone (local venture-backed startup), Elixir (local SME), ST Electronics Data CenterSolutions (local public company).

Smart Home IoT Open Consortium, Member


1. Small team to perform effective executions

2. Mixture of both experienced team members and innovative and creative

young team members

3. University Collaborations (PHDs and Research initiatives)

4. End-to-end ‘Big Data’ energy management product and solution

5. Recognition from Government entities (Energy management)

6. Pioneering in IOT data collection with MNCs partners (including hybrid data

collection methods)

STRENGTH

OPPORTUNITY

1. Government initiatives on energy policy that relates to energy efficiency

force action on energy management for industrial and commercial

2. Energy management is one of the core component in ‘SMART NATION’

initiative

3. Energy saving and management is one of the key agenda for senior

management of industrial organizations

4. Strong MNC client relationship (project creations)

WEAKNESS

1. Capital intensive project (affecting the competitiveness)

2. Client dependency for product development and testing

3. Client are ROI centric (Energy management project

depends on the ROI level ability)

4. Lack of resources to hire more human capital

5. Challenging to scale energy related services effectively

THREATS

1. Machines manufacturers are key competitors in energy efficient

management

2. Top energy management players with Heavy financial backings

providing Energy management solutions with better human

network and relationship

3. Top data solution providers are industrial giants such as IBM, SAP,

SAS etc.

Pipeline Projects


Call Option Buy Back($-11.90; $ 238

Entry Price

Entry A : $39 @400 shares $15,600

Entry B : $41 @200 shares $ 8,200

Entry C : $43 @100 shares $ 4,300

Entry D : $45 @ 50 shares $ 2,250

Entry A : $31.75

Entry B : $30.75

Entry C : $29.75

Entry D : $28.75

ShareholderNumber of

Shares

Issued Share

Capital ($)

Percentage

Shareholding

Chen Chiu Hao

(Ted)80,000 80,000 37.74%

Phyo Ko Ko 60,000 60,000 28.30%

Hsu Shao Chung 49,000 50,000 23.11%

NTU – NTUitive

Pte Ltd

& Others

11,000 110,000 5.19%

Midana 12,000 300,000 5.66%

Total 212,000 600,000 100%

EverComm Uni-tech Valuation @ $6,360,000Base Price $30.00 per shareCall Option Buy-back 36 month>Annual dividend payable 12th month onwards (revenue starting from

2016)

Funding PurposeSecure a paid-up capital of $500,000 for iDAaccreditation & to acquire more govt. projects

Valuation & Shares Structure


Exit Options

a) Merger & Acquisitions

b) Trade Sales

c) IPO

d) Dividend

e) Other series funding

f) Buy-back

2015 2016 2017 2018 2019

Sales $1,000,000 $2,500,000 $4,000,000 $5,200,000 $7,500,000

Annual Maintenance - $100,000 $350,000 $750,000 $1,270,000

Hardware 15% $150,000 $375,000 $600,000 $780,000 $1,125,000

Net Sales $850,000 $2,225,000 $3,750,000 $5,170,000 $7,645,000

Payroll & Emp. Benefit

$360,000 $460,000 $560,000 $660,000 $760,000

Grants & Support $288,000 $368,000 $448,000 $528,000 $608,000

EBIDA $778,000 $2,133,000 $3,638,000 $5,038,000 $7,493,000

Net Profit $645,000 $1,770,000 $3,019,000 $4,180,000 $6,219,000

Dividend 5.66% share - $100,182(33%) $170,000(56%) $236,000(78%) $351,000(117%)

PE x10 EXIT X4 X5 X9

Exit Plan & revenue Forecast

**Table above is base on an average forecast & is for reference purpose only


*Each entry contained 2 project offered with different shares holding.*Each entries share are fixed.*All entries are subjected to 20% carried interest chargeable by Midana Capital Inc*For avoidance of doubt, all the costs and expenses in relation to withdrawal of fund shall be borne by the Investor.*Call option buy-back is an option to buy assets at an agreed price on or before a particular date and is valid only when buyer & seller agrees

Entry EverComm DeNova Entry Price Est MYR

Entry A 400 shares 160 shares $26,000 RM80,600

Entry B 200 shares 80 shares $13,720 RM42,532

Entry C 100 shares 40 shares $7,180 RM22,258

Entry D 50 shares 20 shares $3,750 RM11,625

Equity Purchase Choice

EverComm Uni-tech $30 per share Call Option Buy-back

Entry A : $31.75 ($- 7.25; $2900)

Entry B : $30.75 ($- 8.25; $1650)

Entry C : $29.75 ($- 9.25; $ 925)

Entry D : $28.75 ($-10.25; $ 512.50)

Excluding dividend

DeNova Science $50 per shareCall Option Buy-back

Entry A : $56.10 ($- 8.90; $1424)

Entry B : $55.10 ($- 9.90; $ 792)

Entry C : $54.10 ($-10.90; $ 436)

Entry D : $53.10 ($-11.90; $ 238)

Excluding dividend

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