Dr. Gregory H. Olsen - Space Participant 2005

Greg Olsen, Resume:

•  BSEE, MS Physics, Ph.D. Materials Science –  Fairleigh Dickinson & Univ. Virginia

•  RCA/Sarnoff Labs: Research Scientist –  1972 through 1983

•  EPITAXX –  1984 through 1991

•  Sensors Unlimited –  1992 through 2005

•  Flew to Space –  October 2005: Russian Space Agency

•  GHO Ventures –  January 2006: Angel Investments

Brief Resume of Epitaxx

•  Spun-off from RCA Labs in 1983/1984

•  5 people; $1.5 Million investment

•  Primary business was fiber optic detectors

•  55 people, $5 Million revenues by 1989

•  Acquired by Nippon Sheet Glass in April, 1990 for $12 Million

•  Acquired by JDS Uniphase in November, 1999 for $400 Million

Brief Resume of Sensors Unlimited, Inc.

•  Started in 1992: Infrared sensing

•  Self-financed, SBIR contracts

•  80% R&D in 1993; 30% in 1999

•  Significant telecom sales in 1998 (Internet)

•  1999: $12.3 Million revenue/$3 Million profit

•  2000: Acquired by Finisar for ~$600 Million

•  2002: Bought back company for ~$6 Million

•  2005: Acquired by Goodrich Corp., for $60 Million

March, 2000

•  NASDAQ peaked •  Hi-tech: all-time high! •  Stock worth MUCH more than cash •  Optical Fiber Conference: lined up around the block ! •  Almost any technology can raise > $10 Million VC •  13 large companies pursued us •  Valuations rose > 10X •  A true feeding frenzy ! •  Good time to sell !

October, 2002

•  NASDAQ bottomed •  Hi-tech: all-time low •  Stock nearly worthless; cash is king •  Conference attendance extremely low •  VC: down round or no round •  Most acquisitions had become cash burdens •  Valuations (and stock) dropped > 10X •  Good time to buy !

Availability Of:

Sensors Unlimited’s Partnerships

•  Princeton University (Steve Forrest)

•  Sarnoff Corporation

•  Rutgers University

•  New Jersey Institute of Technology (NJIT)

•  Rockwell International Science Center

•  New Jersey Technology Council (NJTC)

Timing the Sale/IPO

•  You can’t force the Market !

•  Timing is EVERYTHING

•  Be Ready!

– Management team in place

– Good team presentation

•  Get a GOOD price……not the best

What Did I Learn?

•  Lean and Mean IS better!

•  Hire people who are better than you.

•  Good managers work for their people NOT vice versa.

•  Bring on good people and let them take over.

•  If you work really hard and don’t give up, success will eventually follow.

•  Don’t AVOID mistakes; DEAL with them.

So, What’s it All About???

IT AIN’T ABOUT TECHNOLOGY……

IT AIN’T ABOUT MARKETS…………

IT’S ABOUT PEOPLE, STUPID!!!

GHO Ventures

•  Princeton Power Systems: inverters and battery back-ups

•  Achieve 3000: internet system to improve reading ability

•  Power Survey Company: stray voltage detection

•  United Silicon Carbide Inc.: next generation power transistor

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