Company Investment
2022 AOS is a Sparca brand
Executive Summary
Sparca 2022
Investment
Sparca Limited (“Sparca” or “Company”) is a digital signal processing (mixed - audio/visual/satellite etc) software development house. Sparca has over 400+ unique algorithms known as Digital Organelles™ and currently operates in 2 markets, Ophthalmic and electronic consumables.
Originally founded as Advanced Ophthalmic Systems (AOS) Ltd in 2014, a name change in 2018 to Sparca Ltd (the “Company”) allowed for the expansion of our IP into multiple market opportunities. A newly formed, wholly owned subsidiary, AOS Ltd, was created to house all ophthalmic business in 2020.
The Company has previously raised investment for the commercialisation of AOS which is now the maturest business unit at Sparca, with revenues in 2021 of circa $5m. AOS has developed OEM relationships with Alcon (ALC - NYSE) & Lumenis (LMNS - NASDAQ) forecasting a further $3m in revenue by end 2022 (i.e. $8m in last 24 months). The Alcon opportunity alone has a TAM for AOS of $2.1Bn with a SAM for AOS of $63m pa in recurring revenue (up to 3% royalty on contact lens renewals using AOS technology via Alcon).
Sparca has an ISV partnership agreement with Qualcomm (QCOM - NASDAQ). In 2022 Sparca has developed 3 products, SPARCA AURA™ available for both image or video, which has been qualified by Qualcomm for use directly on their SnapDragon chipsets or can be deployed at the Operating system (OS) level. Qualcomm (DSP chipsets) TAM $4.6Bn with a SAM for Sparca at $300m pa.
Today, Sparca is looking to raise investment for working capital to exploit the Qualcomm opportunity and accelerate commercialisation to realise recurring revenue potential.
video-enhancement-to-low-and-mid-tier-platforms-in-collaboration-with-qualcomm
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Privileged & Confidential – Sparca 2022
Press release link https://www.einpresswire.com/article/583269530/sparca-brings-advanced-imaging-and-
Sparca IP
• Sparca IP or algorithms are marketed as Digital Organelles
• 400+ library available with all interchangeable to create specified outputs unique to each client or field
• Sparca IP is sector agnostic, currently only deployed in ophthalmics and consumer electronics
• All AOS IP represents approx. >20% of total IP
• No patents filed protected under “trade secrets”
• Multiple white papers and clinical validation plus performance and profiling data for use on system on chip
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Privileged & Confidential – Sparca 2022
• Multiple trademarks
Sparca - Opportunity
Sparca
Products:
Contrast
Key partnership: Qualcomm
Key
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**AOS Est. $5m rev in last 18 months / Sparca pre-revenue as of Oct 22** AOS Ltd 100% owned Subsidiary TAM $2.1Bn SAM $63m pa TAM $4.6Bn SAM $300m pa Sparca Corp 100% US Subsidiary SPARCA Ltd AOS (Advanced Ophthalmic systems) Products: Software AOS v3 - Ophthalmic diagnostic AOS VA - Visual Acuity Apps ECP capture app Patient capture app OEM Bulbar Redness grading Contact lens fit Mobile VA Image enhancement Key clients: Vision Express - AOS v3 Alcon - OEM Lumenis - OEM Aldeyra - CRO Revenue lines: Direct sales OEM CRO (Clinical research organization)
OEM Low light video and imaging
video and imaging Color video and imaging Sharpness video and imaging
- OEM
prospects: Mid-tier mobile manufacturers Laptop manufacturers Wearable manufacturers Revenue lines: OEM
AOS IMAGING & GRADING TOOLS PATIENT/CLINICIAN IMAGING APPS TELEMEDICINE REMOTE VISUAL ACUITY REPORTING/REFFERALS OEM LICENSING GOLD STANDARD CLINICAL TOOL
AOS - Highlights
Below are the key clients and prospects for AOS as of 17/08/22. This does not include any direct to consumer sales trials or pilots not complete.
circa $3-5m (2023)
• IP license circa $2-3m (2022)
• Royalties on commercially released product circa 3% est. US launch 2024 min $8m pa
• Selecta Duet - embedded Sparca IP
• 10 yr Software licensing agreement $200K software build
• Objective clinical trial service
• Redness grading as primary end-point
• Remote CLO service
• End of 6 months successful pilot
• Royalties invoice monthly $250 per device produced -device released 2021
• Generated Circa. $338K 2022
• Early discussions with 2x leading CRO (clinical research organisations)
n.b. 42 clinical trials currently scheduled with Redness as primary end point in US. AOS is the only objective redness grading system currently FDA cleared
• Converting to Live system and ramp up of remote service
• Per min usage fee Circa £0.10 - 0.20p p/m
• Contract in negotiations
Disclaimer: Please note all the above are prospects and although engaged they are at vary levels and no guarantee of
success is given.
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Privileged & Confidential – Sparca 2022
AOS - Market feedback
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Privileged & Confidential – Sparca 2022
CONFIDENTIAL AURA Privileged & Confidential – Sparca 2022 (4K)
CONFIDENTIAL AURA Privileged & Confidential – Sparca 2022 For more info; https://www.sparca.com/qualcomm-partnership/ AURA 1 Enhance colour, clarity and vibrancy AURA 2 Smart contrast for enhanced detail and definition AURA 3 Enhance clarity and visibility of images taken in low light Original Enhanced No enhancement needed No enhancement needed Enhancement needed Enhanced color rendering Original Enhanced Improve contrast Increased contrast and clarity Original Enhanced No enhancement needed Low light enhancement needed No enhancement needed Enhanced low light areas
AURA - PRESS
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RELEASE Privileged & Confidential – Sparca 2022
Leadership
Eduardo Mangieri, PhD
Co-Founder & Executive Chairman
Dr. Mangieri co-founded AOS, Ltd. in 2014 with a deep and broad engineering background supported by a BSc in Electronics Engineering, a Microelectronics Systems and Devices MSc, a System-on-Chip (SoC) MSc, and a PhD in Medical Electronics. He is an accomplished product developer specializing in new products and solutions in the digital, medical and financial technology industries.
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Privileged & Confidential – Sparca 2022
Leadership
Karl Hans Jeebaun
Co-Founder Sparca / AOS & Sparca CEO / AOS Executive Director
Mr. Jeebaun co-founded AOS Ltd. in 2014 and is Sparca’s group CEO, brings over 25+ years experience as a management consultant working across several business sectors specialising in the commercialisation of new products & OEM. He understands business from both a start-up and corporate position; identifies strengths and weakness while fully exploiting the former and mitigating the latter; and structures tailored individual strategies that support success.
Current Chairman of E-health committee in the UK for Ophthalmics and Board advisor to Adaro Optics.
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Privileged & Confidential – Sparca 2022
Leadership
Gerard Kool
Co-Founder & President / Chief Operations Officer
Mr. Kool co-founded AOS, Ltd. in 2014 and brings over 20 years of experience in public and private sector information technology. He began as a Unix systems engineer, scripter and systems administrator moving on to specialise in secure transactional banking and insurance platforms. He then worked as a freelance consultant for 12 years in project and programme management within HM Government agencies (Ministry of Justice, HM Home Office, MoD) and within the Defence sector focussing on technology delivery of infrastructure, communications and biometric programs.
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Privileged & Confidential – Sparca 2022
Projections
Company projections (2023 onwards) are based on our understanding of Alcon’s digital roadmap and the magnitude of potential commercialisation of Sparca products (developed or in-development) via the Qualcomm partnership.
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Privileged & Confidential – Sparca 2022
Investment key details
Investment amount - £2,500,000.00 (£106.66 per share)
Share Type - Ordinary, par value £0.001
*Shares available - 23,438 ordinary shares
Closing date - 31st December, 2022
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Privileged & Confidential – Sparca 2022
Post close cap table Shareholders Shares % Founders 78,250 27.05% Investors 179,591 62.09% Option Pool 31,422 10.86%
Use of funds
The proceeds raised will be used for, among other reasons: Sparca 2022
• Continued development through the Qualcomm ISV program and the commercialisation of these validated products into OEM’s.
• Work on variations and new image and video enhancements for different use cases (I.e. wearables / laptop’s / displays) with Qualcomm
• General working capital purposes
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Privileged & Confidential – Sparca 2022
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