Sheltowee Annual Report

Phone: 502-299-5079

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Sheltowee was the name that was given to Daniel Boone by the Shawnee Indians when he was adopted into the tribe in 1778 by Chief Blackfish. Chief Blackfish thought that Daniel had broad shoulders and looked like a turtle, and the name Sheltowee means “big turtle”. Daniel Boone was a courageous American entrepreneur and frontiersman. He blazed new trails into the wilderness and civilization followed him. We at Sheltowee hope to live up to the legacy of our namesake and help to blaze new frontiers in science, technology, and entrepreneurism.

Alex Day Founder and Managing Partner, Sheltowee Network

Eric Dobson Founder and Managing Partner, Sheltowee Network

FROM THE FOUNDERS

As experienced entrepreneurs, we understand the myriad of challenges faced by innovators who want to change the world.

We have come together to combine our talents, our networks and our efforts to help build amazing companies.

Alex Day Founder and Managing Partner, Sheltowee Network

Eric Dobson Founder and Managing Partner, Sheltowee Network

I love serving as the bridge between entrepreneurs and investors to take complex ideas and turn them into financial successes.

Alex Day Founder and Managing Partner Sheltowee Network

My mission is to unite successful business people and high-tech startup companies to build incredible companies that will create wealth for both founders and investors.

Eric Dobson Founder and Managing Partner Sheltowee Network

We both have experience building and investing in companies that not only provide strong financial return but also have strong societal impacts.

Since we partnered in 2020, we invested more in 2021 than we ever had before and exceeded

that number yet again in 2022.

We want to thank all of our investors and our entrepreneurs for the faith that they have placed in us and look very forward to generating tremendous financial returns in the coming years.

EXECUTIVE SUMMARY

The Sheltowee Network had an amazing 2022. In this report, we outline our successes and discuss some of the opportunities we have in 2023. This report covers the Sheltowee Venture Funds, the Sheltowee Angel Network, the Sheltowee Business Network, Konexons and Frontier Marketing.

In 2022, Eric Dobson and Alex

Day worked together to build the Sheltowee Network team and identify impressive early-stage companies for investment.

As the founders focused on growth and strategic vision, they were supported by Olga Grab, their Chief of Staff who attended to critical operational needs. In 2022, the Sheltowee Network

The Sheltowee Network’s affiliates invested over $3 million in 20 companies in 2022.

had its best year in the combined history of the companies.

We addressed a number of issues such as helping identify and onboard our part-time CFO, Todd Culpepper, establishing proper protocols for bookkeeping and addressing SOPs for the future scalability of Sheltowee. While

Some of Our Key Accomplishments of 2022:

• Added amazing team members Todd Culpepper, CFO Amelia Barlett - Operations, Manager

• Invested more than ever before in amazing companies

• Added Marcum King as a General Partner of the Sheltowee Venture Fund II

• Entered into a contract with Oak Ridge National Laboratory to train technologists as entrepreneurs

2022, allowed for tremendous growth, the focus was on building a strong foundation for scalability.

With significant investments made in 2022 in Konexons and other systems and processes, the Sheltowee Network will be focusing on growth in 2023 of both capital deployed and revenue generated.

• Entered into a contract for Konexons with the potential of generating $1 million

• Established relationships for a Graphene Acclerator and a Medical Device Accelerator

• Broke escrow on the Sheltowee Venture Fund II

MEET THE TEAM

ALEX DAY Founder & Managing Partner, Sheltowee Network

ERIC DOBSON

JR ROSE Advisor, Sheltowee Network

OLGA GRAB Chief of Staff

DOC CLAUSSEN President, Marble City Angels

DAVID VULCANO President, Music City Angels

SUSAN CROOK CEO, Frontier Marketing LLC

PHIL MARSHALL Advisor

AMELIA BARTLETT Operations Lead TODD CULPEPPER Fractional CFO Founder & Managing Partner, Sheltowee Network

SHELTOWEE NETWORK

The Sheltowee Network was formed by Eric Dobson of the Angel Capital Group and Alex Day of the Sheltowee Business Network. Alex and Eric came

together to build synergy in their networks and establish an umbrella organization focused on building a highly profitable entrepreneurial ecosystem. The

Sheltowee Network has multiple business lines and is designed to provide both monetary capital and human capital to help grow entrepreneurial businesses. As successful entrepreneurs,

both Eric and Alex understand the demands of building an entrepreneurial company and are building Sheltowee to be the premiere resource for investors and entrepreneurs.

MISSION

We create exceptional returns by making critical connections between communities, entrepreneurs, and investors providing the resources required to drive impactful products and services into market.

CORE VALUES

• Help others

• Conduct yourself in a kind, ethical and transparent fashion

• Honor those who assume the risk

• Expect a financial return on your interactions

SHELTOWEE VENTURE FUND

The Sheltowee Venture Funds are a key component of the Sheltowee Ecosystem. With these funds, the Sheltwoee Network is able to screen hundreds of companies and then follow them over months and years through our Angel Network, then place

investments in rock-solid entrepreneurs. Our unique system allows us to place capital with confidence in early-stage companies. Our investment thesis is to only invest in companies where someone from our trusted network can bring value.

SHELTOWEE VENTURE FUND I

The Sheltowee Venture Fund I (SVFI) was launched in 2019. We tested some of the concepts that became an integral part of the Sheltowee Network and Konexons.

Investors in the Sheltowee Venture Fund I received options to purchase equity in the

Sheltowee Network as well as their participation in Fund I.

Fund I has invested in Konexons, the Sheltowee Business Network and several other very promising companies. The success of Fund I led to the establishment of Fund II, which broke escrow in November of 2022.

Our business model is built on the deployment of human capital and monetary capital.

SHELTOWEE VENTURE FUND II

The Sheltowee Venture Fund II (SVFII) is managed by Eric Dobson and supported by Alex Day and Marcum King as his fellow General Partners (GPs). The three GPs are ALL experienced entrepreneurs who have built companies from the ground up and understand what it takes to build a company. By leveraging the expansive network of the GP’s, SVFII is able to exploit amazing deal flow and bring in trusted human resources to the portfolio companies.

Companies we have invested in 2022

Anavah Health

Amount Invested: $100,000.00

Ascend Manufacturing, LLC

Amount Invested: $60,000.00

CareHealth

Amount Invested: $25,000.00

Endo Technologies

Amount Invested: $25,000.00

EMBA

Amount Invested: $110,000.00

LEAP

Amount Invested: $25,000.00

Magsorbeo Biomedical

Amount Invested: $25,000.00

Oh Snap

Amount Invested: $100,000.00

Photonicare

Amount Invested: $50,000.00

Sense

Amount Invested: $90,000.00

Total Investment: $610,000.00

WORLD-CLASS ECOSYSTEM

The Sheltowee Network nurtures entrepreneurs and investors to bring world-changing technologies to market.

-- Alex Day, Founder & Managing Partner, Sheltowee Network

Sheltowee has developed a comprehensive ecosystem to help entrepreneurs and investors get the resources and built the Konexons (pronounced “connections”) to help them make the

Konexons they need.

Sheltowee offers free resources through our foundation and comprehensive services to help entrepreneurs get the help they need.

SHELTOWEE ANGEL NETWORK

The Sheltowee Angel Network (SAN) is run by Eric Dobson and builds off of the amazing foundation built by Eric with the Angel Capital Group. SAN is now able to pull upon additional resources from the Sheltwoee ecosystem to help entrepreneurs and provide

incredibly strong returns for investors. Eric’s mantra for SAN is trust, integrity and focus. Taking lessons learned from building the Angel Capital Group, SAN launched the Derby City Angels in Louisville, KY to join our Knoxville and Nashville, TN chapters.

Marble City Angels

The Marble City Angels based in Knoxville, TN is our flagship chapter of SAN. This is where it all started. Our chapter president, Doc Claussen, leads monthly meetings where amazing entrepreneurs pitch seasoned investors.

Music City Angels

The Music City Angels in Nashville, TN is led by David Vulcano and is our second oldest chapter. Held at the Standard, a fixture in Nashville, the Music City Angels attract healthcare and technology companies to pitch a close-knit group of investors.

Derby City Angels

The Derby City Angels is the newest chapter of the Sheltowee Angel Network. Held at the Innovation Center of the Louisville Healthcare CEO Council, the Louisville Chapter (CEO c) leverages key relationships with the University of Louisville and the member companies of CEOc to build trusted relationships.

List of companies we have invested in 2022

6am City

Amount Invested: $189,000.00

Anavah Health

Amount Invested: $82,500.00

Ascend Manufacturing, LLC

Amount Invested: $104,000.00

HeroWear, LLC

Amount Invested: $90,000

HEVO, Inc.

Amount Invested: $74,000

Obatala Sciences, Inc.

Amount Invested: $87,000.00

OhSnap!, Inc.

Amount Invested: $246,000.00

Photonicare, Inc.

Amount Invested: $108,000.00

SOMAVAC Medical Solutions, Inc.

Amount Invested: $61,000

TrakID

Amount Invested: $99,000

SHELTOWEE CLEAN TECH FUND

The Sheltowee Clean Tech Fund has financed multiple installations of a unique product that can recover Fats, Oil and Grease (FOG) in an economically enticing and environmentally friendly manner. Greasezila is a company

based in West Virginia that has developed a proprietary system for the conversion of FOG to bio-diesel. When Greasezila needed to expand their business they came to Sheltowee for assistance. Eric

Dobson was the architect of an investment vehicle that met the needs of Greasezila and the needs of the investor. This unique revenue share model is

designed to deliver venture-sized returns from a project that is already profitable and provides Greasezila with the capital they need for rapid expansion.”

You cannot get through a single day without having an impact on the world around you. What you do makes a difference and you have to decide what kind of a difference you want to make.

-- Jane Goddall

SHELTOWEE BUSINESS NETWORK

Where the Sheltowee Venture Fund and the Sheltowee Angel Network’s primary focus is on monetary capital, the Sheltowee Business Network’s (SBN) primary focus is on human capital.

Led by Alex Day, SBN brings a level of experience to the table for early-stage companies that are usually not affordable for them.

Most entrepreneurs think that

finding money is the hardest part of their job. Experienced business builders know that the true difficulty is in finding the right people. SBN focuses on helping entrepreneurs find the human capital they need. Through our advisory

services program and through our mentor network, SBN brings a vast amount of experience to the table. This experience helps entrepreneurs avoid many of the missteps that our mentors have already made.

In December of 2018, the Sheltowee Business Network held its first meeting at Blue Licks State Park

In 2022, Eric Dobson secured a contract with Oak Ridge National Laboratories to train technologists as entrepreneurs.

In 2022, Sheltowee improved its advisory services program for major expansion in 2023

Good judgment comes from experience. Experience comes from bad judgement.

-- Dr. Kerr L White

Sheltowee Advisory Services Program

The Sheltowee Advisory Services Program (SAS) utilizes highly experienced advisors who have raised millions of dollars for companies.

The SAS provides a model that allows for these highly experienced advisors to be accessed very cost-effectively.

Almost an Investment Bank

SBN brings a level of advisory services that are usually out of reach for most early-stage entrepreneurs. For a low monthly fee, SBN is able to provide a level of service to our portfolio companies that are unmatched in the industry.

Wendal and the Team Print

SBN is partnering with Connetic Ventures to bring the Wendal AI platform to the Sheltowee Ecosystem. Wendal has developed a platform that can identify those individuals who have the greatest chance of succeeding in building a successful company.

Strategic Relevance

Prior to Eric and Alex merging their businesses, unless a company was ready to pitch their business, Eric had little to offer them. Now those marginal companies that may have great potential, can get the help they need to get to the point of being ready for investment.

Theodore Roosevelt

“It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat.”

SHELTOWEE KONEXONS

The Konexons platform is where it all comes together. If you ask 100 entrepreneurs where they go online to get the help they need in building their businesses, you will get nearly 100 different answers. Konexons has been built from

the ground up to provide a place where entrepreneurs and angel investors can get everything they need to be successful. Konexons is not only for Sheltowee, but for other entrepreneurial ecosystems as well.

KONEXONS SUCCESSES

Aging2.0 has partnered with Konexons to provide an innovation platform for their 120 chapters in 13 different countries. Konexons will be providing the platform used by Aging2.0 for their Global Innovation Search, for all of their events, for their mentor network management and the place for their Chapter Ambassadors to connect with their members. All of Aging2.0’s 30,000 supporters will be migrating to the Konexons platform to continue their quest for finding innovations to help our aging population.

CEO ’s 15-member companies represent titans of the healthcare industry. CEO board members include CEOs from Baptist Health, Atria Senior Living, BrightSpring Health Services, Humana, Norton Healthcare, Signature HealthCARE and several other high-profile healthcare companies. CEO has selected Konexons as their innovation platform to identify innovations that can help their member companies care for their communities as effectively as possible.

FRONTIER MARKETING

All of the Sheltowee Network’s affiliate companies and portfolio companies need marketing. In an effort to provide cost-effective and high-quality marketing services, Sheltowee invested in

Frontier Marketing. Frontier supports strategic marketing and sales for the Sheltowee Network which include business-to-business communications, public relations, radio/digital campaigns

and collateral business materials design, such as this annual report. Their creative team members represent nearly

50 years of marketing, advertising and public relations experience ready to serve happy clients.

How We Are Different

Entrepreneurial approach

Wildly successful with startups

Focus on sales

US-based leadership leveraging cost-effective offshore and local resources

Can help startups secure capital

“What you see is what you get”, you will not be handed off to a junior associate Sensitivity to the subject matter-translates the message to the targeted audience

SHELTOWEE FOUNDATION

The Sheltowee Foundation is a non-profit that supports entrepreneurial ecosystem building through entrepreneur and investor education. The Sheltowee

Foundation promotes the core values of the Sheltowee ecosystem and provides real-world solutions from our entrepreneurial founders.

We make more and better entrepreneurs and more and better investors by teaching them to speak the same language in order to build economically resilient communities.

BUSINESS IN A BOX CURRICULUM

The Sheltowee Foundation is offering its Business in a Box curriculum at no charge.

This curriculum has been developed by entrepreneurs who have successfully started and run businesses and is designed to provide helpful information for those who want to start a business. If you find this curriculum helpful we ask that you provide a donation to help support the further development of the curriculum and to support the Sheltowee Foundation’s mission of educating entrepreneurs and supporting entrepreneurial ecosystem development.

ALLURA CAPITAL

Allura Global is a strategic partner of Sheltowee. Allura has similar core values and is working with Sheltowee to bring amazing technologies to the marketplace.

Marcum King is a partner at Allura

Global and oversees their mergers and acquisitions and venture capital investments. Marcum has come on board as a General Partner of the Sheltowee Venture Fund II as a first step in our

amazing relationship. Allura Global is similar to Sheltowee in that they have brought several different business units together to operate in a coordinated fashion. Allura’s primary business lines are Allura Capital, Allura Elevate, Allura Pro-Sales and Allura Media.

A tremendous benefit of working

with Allura Capital and Marcum, is that he became an investor by walking the path of the entrepreneur. As with Alex and Eric, Marcum truly understands what it means to build a business and assume the risk of the entrepreneur. Visit Allura to learn more about their services and how they can help your business.

Allura’s participation as a General Partner in the Sheltowee Venture Fund is our first step to a long and fruitful partnership.

-- Marcum King

PAYING IT FORWARD

FEATURED

Alex Day has worked with his partner, Tammy York Day, on the Unbridled Charitable Foundation for the last decade. The Unbridled Charitable Foundation, Inc and

David DeSanctis, Unbridled Eve 2022

the Unbridled Eve Derby Gala were founded by Tonya York and Tammy York Day. Their experience in creating world-class non-profit and charity events is vast and successful.

Proceeds from the Unbridled Eve Derby Gala benefit numerous charities. This is a party that changes lives forever.

PITCH PRESENTATIONS

Derby City

Angels

Marble City

Angels

Anavah Health

Trakid

Sniffer Robotics

Sports To Suits

Mindpass Inc

Be Global Safety

Skintelligent

Spiky.ai

Modicus Prime

Fluix

Convey Pro

Nichefire

Somavac

Photonicare

Ohsnap

Sparkz

General Graphene

Obatala Sciences

Bourbon Barrell

Anavah Health

Sports To Suits

HeroWear

Trakid

Alertgy

Haulee

Lineus Medical

Somavac

Ample Cloud

Sonavex

Trakid

Safekeeping Inc

Obatala Sciences

Sheltowee Venture Fund ll

Sodalis Healthcare Crowdfunding

Qura Inc

Cartoonize My Pet

Alertgy

American Evidence

PDXBIOTECH

Lineus Medical

Vestillery

Safekeeping Inc

Leap Photovoltaics

Teaming

Sword Performance Inc

Sonavex

RAADZ

Modicus Prime

Magsorbeo Biomedical

The Sheltowee Network had its inaugural meeting on December 2nd of 2018.  After partnering with Eric Dobson and the Angel Capital Group in 2020 we have made tremendous progress. Making connections and learning from each other creates countless opportunities to grow the Sheltowee Network. We are grateful for all of those who make us a success.

BotanicalMeetingGardens

Sheltowee NetworkFirstMeeting

Sheltowee Business NetworkMeetingInaugural

Angel Network Meeting

Our Visions for Tomorrow

In the coming months of 2023, the Sheltowee team will continue to build our capabilities as we filter, focus and build trust. Some of our goals for 2023 are:

• Complete organizational and financial structure fortification for the Sheltowee Network

• Invest $10 million in 30 startups

• Launch comprehensive marketing and communications program

• Double the number of Sheltowee Angel Network members

• Generate $1 million of revenue through the Sheltowee Business Network

• Generate $750,000 in revenue through Konexons

• Finalize and deploy our accelerator model

• Continue to cultivate strategic partnerships for growth

• Develop a strategic plan for the Sheltowee Foundation and secure additional funding to continue our educational efforts for entrepreneurs and angel investors

We wish to thank all of our investors, portfolio companies and supporters for their trust, and we look forward to working together in 2023 to generate substantial financial returns to help people at the same time.