ABC CORP Board of Directors Meeting

[date]

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ABC CORP Board of Directors Meeting

[date] - Agenda

     Start     08:30    Welcome

          08:35 – 08:40    January 26 Board Mtg. Summary & Actions [CEO] 05 min.
          08:40 – 08:50    Corporate & Administrative Update [CEO] 10 min.
          08:50 – 09:00    Sales & Business Development, Pipeline Q1 & Q2 [VP Sales] 10 min.
          09:00 – 09:10    C5 Marketing, Product Management, Alliances [VP Mktg] 10 min.                           
          09:10 – 09:20    C5 Development Status [VP Prod Dvpmt] 10 min.
          09:20 – 09:30    CTO – Patents, Product Differentiators, Roadmap [CTO] 10 min.
          09:30 – 10:15    Finance, Operations, FY05 Business Model, Capital [CEO]/[CFO] 45 min.
          10:15 – 10:30    Action Items, Comp Committee, CEO Discussion [CEO] 15 min.

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26 January Board of Directors Meeting

Summary & Actions

 FY 2005 Business Model Review ($5.5M Rev Target)

 Q4 Customer Wins

 Q1 Sales Pipeline (Q1 Bookings Target $865k)

 Marketing Investments in Q1 (approved accelerating marketing expense in Q1)

 Cisco Partnership (Network Access Control)

 Juniper Partnership

 Patent status – Competitive Update and Situation

 FY 2005 Expense Management Plan

 Capital requirements (March funding requirements)

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Corporate & Administrative

Action Items & Overview

 Motion to approve the Minutes from 26 January Board Meeting

 Signed [x Party] License Agreement

 Discussion with [Potential Client/Insert Name] 28 February – Next step briefing with Corp. Dev Team

 Compensation Committee – Follow up to FY 2005 Employee Bonus Program & Executive Compensation

 Next Funding Round – Timing & Terms

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[Insert Name] – VP Sales
[date]

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FY 2005 Q1 Sales

Sales Tracking Summary

Q1 Bookings Target: $865k ($22K Closed)

Q1 Tracking: $1.9M
Strategic Opportunities: [___] + ($445k), [___] ($1.1M), [___] ($365k)

Acco unt Licens e M aintenance Pro f Svcs Training Ap p liance To t al % Pro b Ext end ed

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FY 2005 Q2 Sales

Sales Tracking Summary

Q2 Bookings Target: $1,261M
Q2 Tracking: $5M Q2 Pipeline
Q2 Weighted Amount: $615k
Strategic Opportunities: [___] ($200k), [___] ($200k), [___] ($200k)

Acco unt Licens e M aintenance Pro f Svcs Training Ap p liance To tal % Pro b Ext end ed

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FY 2005 Q2 Sales

Sales Tracking Summary

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[Insert Name] – VP Marketing: Product Management: Alliances

[date]

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Marketing

 New whitepapers, datasheets, web site, flash demo, ppt template & content, web lead complete!
 Proposed product naming convention: product family + product name = [____]
 Speaking Events:
 Media/Analysts/Awards – Beginning to see the results
 Interviews with 15+ reporters/editors, and 10+ analysts in the last 4 weeks
 Beginning to get coverage online and in print
 Entered eWeek Excellence Award (finalists to be announced in 2/28 issue)

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Product Management and Alliances
 Focus is on enhancements required for customer adoption and success
 No one offs; near term focus is on better usability & manageability
 Driving us to be able to better support a software only distribution in the future
 Bertha items delayed except for where it aligns with customer requests
 Current plans for new products
 C5 NDC – outsourced till completion with delayed payment terms
 C5 NQC - Cisco Edition – requires resources to be applied and lab certification
 C5 NAP – Prof/Enterprise Editions – requires resources to be applied
 C5 xxx Juniper Edition – requires resources to be applied
 Juniper – working on implementing additional prototypes, and prepping for the next meeting
 Sun – preferred status as ISV supporting Solaris 10; receiving “free” equipment
 Alterpoint – development in progress; sales teaming in progress
 IBM – met with Linux rep again; engaged to receive introduction to US MSP sponsor
 MSFT – Met biz development manager for the security unit (Piyush)
 Working to set up an ½ discussion on potential technology alliances that might make
commercial sense for us
 Also receiving warm referral into CVP (Mike Nash) of the Security Business &
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Competitive Update – [date]

Jan 2005
 [Competitor] Insert
challengers/leaders/niche
 [Competitor] – New executive hire players/visionaries chart

 Announced similar solution

Source: [_____]
 [Competitor] – New products
 [_______]
Feb 2005

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challengers/leaders/niche
players/visionaries chart

Source: [_____]

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[Insert Name] – Sr. Director of Development
[date]

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Deployments, Demonstrations and Their Impact

Deployment Status: Upcoming Significant Events:

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[Insert Name] – Chief Technology Officer

[date]

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Activity Status
Closely Monitoring Areas of Concern & Risk

 Accelerators
 Continuing scope and schedule impact
 Prioritizing based on customer demand and integration need
 Concerns/Risks:
 Current customer demands impacting resources
 Delayed integration
 Accelerators delayed until customer demands met
 Strategic Partnerships
 [Name] implementation beyond prototype

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Activity & Status

Intellectual Property & Technology

 Competitor Status:
 [Competitor Name]
 Adding additional Demos [other competitive updates]

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Technical Advantages & Roadmap…

[Insert Description of Product Goals/Road Map]

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[Insert Name] – CFO/COO

[date]

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 January Income Statement - Budget vs. Actual
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Alba Therapeutics
Income Statement
(dollars in thousands) Actual Planned

Jan Jan Jan

2005 2005 Variance
(Bookings)
Revenue
Cost of Sales

Gross Profit

Total Operating Exp.

Ordinary Income

Other Income/Expense

Net Income

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Balance Sheet
Alba Therapeutics
Balance Sheet
28-Feb-05 * there will be outstanding invoices/payables and accrued expenses added to the balance sheet when Feb is closed
CURRENT ASSETS LIABILITIES
Checking/Savings Accounts Payable
Accounts Receivable Accrued Expenses
Restricted Cash Accrued Vacation
Deposits Accrued Professional Exp.
Prepaid Expenses Accrued Royalty Payments
Inventory/Deferred Costs Accrued Taxes
Prepaid Rent Line of Credit
Deferred Revenue
CURRENT ASSETS
TOTAL LIABILITIES
FIXED ASSETS/INVENTORY
Computer Equipment (net) EQUITY
Furniture & Fixtures (net) Paid in Capital - Preferred
Office Equipment (net) Paid in Capital - Common
Software (net) Paid in Capital - Warrants
Telecom (net) Par Value - Preferred Stock
Par Value - Common Stock
TOTAL FIXED ASSETS/INVENTORY Treasury Stock
Net Income
TOTAL ASSETS Retained Earnings

TOTAL EQUITY -
WORKING CAPITAL = - as of 2/28/2005
TOTAL LIABILITIES AND EQUITY -
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Variances – January & February

January & February Variances:

$ Incentive Compensation – savings due to large deals being pushed back to later months

$ Technical Salaries – resources are lower in February than expected by 1.5 FTE’s

$ Legal Fees – overage due to filing of trademark applications in Asia countries

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Total bookings since December, 2004 are: $_____. Cash Collection for Q1 Customers is $_____ to date

Customer Date Total Item

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Revenue – 2005 Forecasted

Jan-05 Feb-05 Mar-05 Apr-05 May-05 Jun-05 Jul-05 Aug-05 Sep-05 Oct-05 Nov-05 Dec-05 Total
2005 Plan

Forecast
Jan-05
Feb-05 0
Mar-05 0
Apr-05 0
May-05 0
Jun-05 0
Jul-05 0
Aug-05 0
Sep-05 0
Oct-05 0
Nov-05 0
Dec-05
* numbers are in thousands

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Dec-04 Jan-05 Feb-05 Mar-05 Apr-05 May-05 Jun-05 Jul-05 Aug-05 Sep-05 Oct-05 Nov-05 Dec-05 Tot CY '05
Plan

Forecast
Nov-04
Dec-04
Jan-05
Feb-05
Mar-05
Apr-05
May-05
Jun-05
Jul-05
Aug-05
Sep-05
Oct-05
Nov-05
Dec-05

* numbers are in thousands

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Headcount & Projection - 2005

Jan-05 Feb-05 Mar-05 Apr-05 May-05 Jun-05 Jul-05 Aug-05 Sep-05 Oct-05 Nov-05 Dec-05
2005 Plan

Forecast
Jan-05
Feb-05
Mar-05
Apr-05
May-05
Jun-05
Jul-05
Aug-05
Sep-05
Oct-05
Nov-05
Dec-05

Actual headcount in black box (forecasted consultants are 1 FT to PT hourly employee for administrative help,
1 Quota Carrying Sales Consultant [Asia], and one DB developer)

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FTE’s by Functional Area

Group December January February March April May

(actual) (actual) (actual) (projected) (projected) (projected)

Executive

Technical

Admin.

Sales &
Marketing

Total

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Cash and Projections - 2005

[Insert Chart]

 Actual cash in black box Insert web

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Capital Requirements & B-Round Timing…

Based on the current monthly cash burn, visibility into bookings and revenue in Q1
additional funding is required during March.

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Exercise Price = $0.___/share

Total Option Pool = _______ (as of 2/28/2005)

Name Title State of # of Shares Total Opts Vesting Vesting

Residency This Grant Owned Start Date Schedule

Standard
Non-Standard

Inclusive of above grants:

TOTAL Number of Options Granted (inclusive of above)
TOTAL number of Options in Pool Remaining Ungranted
% of Option Pool used (inclusive of above grants) ________%

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Capitalization Table as of 2/28/2005

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Summary & Closing Remarks

Action Items – CEO Discussion - Schedule

 Summary

 Action Items

 Compensation Committee
 Employee Bonus Program
 Executive Compensation
 Executive Agreements

 CEO Discussion

 Board Executive Session

 Future Board Meeting Schedule

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