Where the Money Is

February 21, 2006--The Keiretsu Forum, a Bay Area
angel investor group, hosted a meeting of it's
members, invited guests and entrepreneurs seeking
investmentors at the World Trade Club in San
Francisco. Approximately 50 Keiretsu members and
nearly as many guests watched attentively as Colin
Weil,the San Francisco Chapter President, explained
the Keiretsu process, introduced the members and the
companies that would present that day.

Four companies presented their projects: (1)Griffin
Investments, LLC, a real estate investment firm,
(2)Voxilla,Inc., a VOIP telephony hardware vendor,
(3)Data Grid PowerAnalytics, a software provider for
nuclear power plants, and (4)Mobile Content Networks,
Inc., creator of a mobile content search platform.

After each presentation members and guests asked
questions about the financial projections, the
business model, the profitability and the exit
strategies. After all presentations concluded,
presenters and any members involved with the
presenting companies were asked to leave the room so
that the remaining members and guests could discuss
the positive and negative aspects of each
presentations.

Griffin Investments was seeking cash to purchase a
628-unit Corona, CA apartment complex that they will
sell to a condo converter over a 5-year period.
Members and guests seemed troubled with the fact that
the presenter did not address the decline in condo
prices and did not satisfactorily answer the questions
of why they would not simply convert the apartments
themselves and what happens if, after terminating the
leases of paying tenants, no buyer is found for the
condo.

Voxilla fared slightly better. Members were impressed
with their first-mover advantage and $2M in revenue
after only 2 years of operation. Members and guests,
however, were not impressed with the lack of detail in
their plan to enter the e-provisioning market. Voxilla
sought funding to build online tools that configure
VOIP telephones for VOIP service providers. Members
and guests suggested that Voxilla pursue partnerships
with Best Buy or another retailer.

DataGrid found no takers for its plan to sell database
subscriptions to nuclear power plants. Members were
turned off by the fact that neither ESPRI (the
regulating body), nor any of the 508 plants worldwide,
have bought in. They were also worried that the
database's purported purpose, to provide a
nondestructive examination and analysis of the
condition of plant equipment, could create unaddressed
liability.

Finally, Mobile Content Networks lost its fight when
the CEO could not explain the company's valuation,
projections or anticipated market share. The company
would compete with Google, Yahoo, AOL and MSN to
provide search results for mobile content such as
ringtones and music. The CEO valued the company at
$10M with no current revenue, projected revenue of
$136M over an unstated period and anticipated a 35%
market share.

Keiretsu Forum holds these forums based on the number
of projects submitted. Keiretsu is accepting new
members. To qualify you must have earned over $200K
for the past 2 years, or have a net worth of $1M+, be
an accredited investor, or a private business
development company.