Wi-Fi Securities Progress Update May 2019

22nd July 2019

During the past two months we have taken the product right back to the barebones of functionality to build back a product and specification truly capable of satisfying the needs of the consumer market.

As you know, there are a number of proof of concept units sat within some very prestigious hotels across London, and indeed New York. However, given the scale of the opportunity, I have taken the decision to make significant change to both the offer and device capability in order to maximise the opportunity.

At this time the updates are:

• Engineering Lead appointed (reporting directly to me) in Andy Shilladay. Andy has a strong background in all manner of product development leading a number of large OEM automotive platforms to market. From this appointment we will, at the Board meeting (June 6th), formally approve the full working specification for the new product range. Since acquiring the IP a huge amount of time has been invested in meeting with potential customers and understanding the real world challenges faced, for example, the devices will now be IP67 rated (waterproof) due to frequent flooding of hotel room bathrooms.
• Full project plan and working specification now 80% complete against business expectation and requirement.
• Initial marketing plan under development.
• Finance system now in place and running. Assistant Accountant appointed reporting directly to Kate Wimpenny.
• Cambridge graduate Embedded Engineer appointed to lead software and firmware. Alex has over 20 years of relevant experience in the embedded space and joins the team to lead the software/firmware development. Since joining Alex has hit the ground running moving the development quickly away from the existing hardware to a ground up approach to ensure we are in full control of the software/firmware development.
• The new patent has now been filed to include new aspects of the technology giving the product truly global reach.
• I have issued instruction to relocate the offices to a strong collaborative working space to allow the development to progress quickly. The business should have moved to new offices in the early part of June.
• We are also in the process of building a number of recruitment specifications to bolster the team for the aggressive development planned.