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LaserSense, Inc. Mission Vision

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1 LaserSense, Inc. Mission Vision
LSI desires to be the exclusive global provider of a unique, proprietary capability that will be used to optimize the productivity of well drilling equipment by providing more accurate and complete information regarding the performance of drill heads used in shale gas operations JOHN M. ZARROLI CO-FOUNDER 230 NORTH MONROE STREET MEDIA, PA Phone: (240) Mission The mission of LaserSense is to provide well drilling companies with an advanced, state-of-the-art system, based on accurate measurement of acoustic emissions (AE), for monitoring wear of the drill head while also providing real-time data regarding drill head effectiveness and rock formation composition

2 Introduction Problem: Drilling rigs need to operate as efficiently as possible: They are in short supply in some places Drill head wear reduces efficiency of drill rig operation, Changing / Replacing the drill head is expensive and time-consuming Also… Problem: Variations in underground rock formations affect drill rig performance Is the underground formation changing? How is this affecting drill head performance and wear? Can we improve how we map underground fractures? Currently, well drilling rigs use a variety of sensor systems (ie pressure, torque) to monitor the drilling process

3 How Can Well Drillers Optimize the Drilling Process?
The Problem: How Can Well Drillers Optimize the Drilling Process? Can Acoustic Emissions (AE) help to optimize the drilling process? In 1999, Xiaoqing Sun, in a paper titled “A study of acoustic emission in drilling applications”, presented at the The 37th U.S. Symposium on Rock Mechanics, asserted that AE features can be “… used to identify drilling situations such as the extent of bit wear, impending bit failure (damaged bearings) or formation changes.”

4 How Can Well Drillers Optimize the Drilling Process?
The Problem: How Can Well Drillers Optimize the Drilling Process? Is AE a viable method for monitoring the drilling process? As far back as 1992, in a paper titled “Acoustic – Emission Monitoring During Hydraulic Fracturing”, Lisa Stewart & B.R. Cassell asserted that “Acoustic emissions have been used with varying degrees of success to map hydraulic fractures in sedimentary formations.” But they also stressed that “the high attenuation of seismic waves in sedimentary rock imposes limitations in the instrumentation and acquisition configurations that can listen to fractures.” What does this mean? AE can be a powerful tool for providing real-time information regarding drill head wear and performance but current AE tools and techniques lack the capability and robustness to be successful in this application.

5 RLI can be tailored to measure AE, for a wide variety of applications
A Solution: RLI (Robust Laser Interferometer) for Measuring AE RLI Will Enable AE to Become a Powerful New Tool for Monitoring the Drilling Process What is RLI? An advanced, proprietary device, based on laser interferometry, that can be tailored to serve as a condition-monitoring (CM) or non-destructive testing (NDT) tool in a wide variety of applications What does it do? RLI measures vibration and acoustic emissions (AE) How is it different? RLI relies on light whereas all competitive systems rely on electro-mechanical sensors RLI can be tailored to measure AE, for a wide variety of applications

6 Piezoelectric Accelerometer
Technical Overview: What Are Conventional Methods for AE? (They are based on electro-mechanical sensors) Mass Accelerometer A mass is suspended in an electromagnetic field and generates a current when the surface it is attached to vibrates (accelerations are associated with movement ) Strain Gauge Small, electrical elements applied to surface of machines or structures - shortening or lengthening generates changes in resistance of a circuit that is associated with stress Piezoelectric Accelerometer Similar to mass accelerometer but material itself, rather than electromagnetic coil generates the electrical signal All have limited measurement capability, tend to be costly to install, lack sensitivity in “noisy”, real-world settings

7 What is “Acoustic Emissions” (AE)?
Technical Overview: What is “Acoustic Emissions” (AE)? AE refers to the generation of transient elastic waves produced by a sudden redistribution of stress in a material. These stresses can be generated by mechanical loading, including the type of events that a drill head experiences as it cuts through rock formations deep underground. What causes AE? AE starts with stress. There are several different types of mechanical stress: Tensile, compressive, bending, shear, torsion Why does this matter to us? In response to this stress, the material changes in shape. This change in shape can be elastic (not permanent) or plastic (permanent). We are more concerned with plastic deformation, especially when it is caused by crack development, fracturing etc. This cracking or fracturing process (whether it is the drill bit itself or the surrounding rock that is fracturing) is what we attempt to measure.

8 RLI enables AE to be applied in “noisy”, real-world settings
A Solution: Why is RLI Better for Measuring AE (Compared to Current Conventional Methods)? Superior Performance Bandwidth: 0 Hz to 524,000 Hz Dynamic Range: 180+ dB Improved “sensitivity”, better resolution Lower Cost Non-Contact version available - no need to mount accelerometers Minimal installation & calibration of sensors; quick set-up; simple, user-friendly interface Substantially reduced need for ‘a priori’ information Higher Resolution Measurements More accurate failure prediction Fewer “false alarms” (false alarms take equipment out of service when its not necessary) Broader scope of conditions detected RLI enables AE to be applied in “noisy”, real-world settings

9 $25,000 Shale Gas funds would be used for Steps #1 and #2 above
Commercialization Plan Summary (Completed Over 18 months) Demonstrate Feasibility of RLI for Use in Well Drilling Applications Complete Signal Analysis and Modeling of Drilling Process in Laboratory and Field Settings Complete System Prototype Refine “Marketing & Sales Plan” Complete Manufacturing Plan Launch the New System for Well Drilling Applications Implement the LaserSense “Marketing & Sales Plan” for Well Drilling Applications $25,000 Shale Gas funds would be used for Steps #1 and #2 above

10 Manufacturing & Assembly
Current System - 4th generation: The combination of mechanical and electronic components is proprietary - several specific components are proprietary System software is unique and proprietary Currently assembled in NC; R&D in MD, WV and FL Planning enhanced assembly operations in PA by early 2014 Cost reduction in acquisition of parts & streamlined assembly To be led by an experienced Executive with 25+ years high level manufacturing experience Future Systems - 5th Generation, 6th Generation etc: Rapid incorporation of system enhancements and options by mid 2014 At least 60% smaller, lighter than 4th Generation system Hand-held point-and-shoot capability Special purpose “front-ends”, processing capabilities for specific applications RLI can be tailored for many different applications and configurations

11 Management Team Joseph Karpov: VP, Manufacturing & Engineering
Previously served as VP - Manufacturing, for a manufacturer of sensors Joe will spearhead preparation and implementation of LSI Manufacturing Plan, from his office in State College, PA. B.S., Mineral Economics, Penn State University Jeremy Leahman: Consultant / Board of Advisors Extensive high level management & field technical experience related to industrial & predictive maintenance and well drilling lubricants MBA, Darden School of Business, University of Virginia Bruce Lewis: CEO Extensive small business start-up experience Extensive sales and marketing experience related to industrial lubrication, predictive maintenance, non-destructive testing (NDT) Manages day-to-day business of LaserSense John Zarroli: Director, Business Development / Co-Founder Extensive small business start-up, sales & field technical experience, related to predictive maintenance, NDT & Reliability-Centered Maintenance B.S., Industrial & Management Systems Engineering, Penn State University Non-Contact is a key driver of benefit

12 Financial Projections: Shale Gas / Well Drilling Revenue & Profit
$200,000 $850,000 $2,000,000 $4,500,000 Expenses $240,000 $1,050,000 $1,700,000 $3,200,000 Net ($40,000) ($200,000) $300,000 $1,300,000

13 Funding Plan Capital Raised To-Date: $350,310 total Debt: $298,310
Convertible Debt: $272,718 Equity: $52,000 Capital Sought - Round 1: $750,000 by 4th qtr., 2013 Business Development (Internet, Trade Shows & Conferences, Sales & Marketing Training & Expenses, Market Research & Analysis) Strengthen IP protection strategy Use of Funds from Shale Gas Contest: $25,000 Validate RLI as an effective tool for monitoring drilling process: University laboratory trials (6 months): $17,000 Field trials (2 months): $3,000 Advanced Acoustic Emissions Consultant (2 months): $5,000 Non-Contact is a key driver of benefit

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