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1 DISCLAIMER – PRIVATE & CONFIDENTIAL EARTHONE CIRCUIT TECHNOLOGIES CORPORATION A Delaware Corporation Private Placement of Shares of Common Stock Securities Offered: Shares of Common Stock, no par value ("Shares") Size of Offering: Up to $25,000,000 The shares of common stock of Earthone Circuit Technologies Corporation (“Earthone” or the “Company") offered pursuant to this confidential presentation (this "presentation") involve a high degree of risk and should be considered only by sophisticated investors who can afford to sustain a loss of their entire investment. Neither the offering materials, nor the shares offered hereby, nor any shares previously issued by the company have been registered with, or approved or disapproved by, the United States Securities and Exchange Commission (the “Commission") or any state securities commission, nor has the commission or any state securities commission passed upon the accuracy or adequacy of the offering materials, including, without limitation, this presentation. any representation to the contrary is unlawful. It is intended that the shares offered hereby will be made available only to accredited investors, as defined in regulation D promulgated under the securities act of 1933, as amended (the “Securities Act"). The shares are being offered pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws. Those exemptions limit the number and types of investors to which the offering will be made and restrict subsequent transfers of the shares. Dated as of April, 2015
2 COMPANY OVERVIEW EarthOne Circuit Technologies Corporation “dba eSurface ” was established in August 2010 to develop and market an evolutionary, proprietary patented technology for applied conductive materials on virtually any surface. 3 CURRENT STATE OF THE INDUSTRY Currently, the circuit board industry uses a Print and Etch “Subtractive Method”, which has a number of drawbacks and limitations §  Inefficient – highly labor and process intensive § 
Weak Yields – below certain trace & space dimensions (75µ), the yield achieved utilizing the “subtractive method” begins to fall dramatically § 
Substrates – limited to using a small subset of surface materials § 
Confined to Flat Surfaces – restricting 3D design § 
Limited Product Designs – advanced designs are very costly and often too difficult to produce § 
Toxic Chemicals – caustic chemicals are required to strip away metals, leading to negative environmental impacts and costly waste mitigation § 
Low Profit Margins – due to a mature technology and commodity market 4 ESURFACE DISRUPTIVE SOLUTION eSurface’s patented technology upends the status quo – fundamentally transforming a constrained and inefficient manufacturing process, and thereby generating savings greater than 50% § 
Fully Additive Process – manufacturing is simpler and more efficient, with far fewer processing steps § 
Superior Yield – yields remain high even for smaller (below 25µ), more complex circuit board designs § 
Lower Production Costs – labor usage and space requirements are reduced § 
Enhanced Signal Integrity – due to tighter tolerances § 
Expanded Material Selections – allows planting of circuits on practically any material and shape, including 3D surfaces § 
Environmental Benefits – a closed loop process, radically reducing toxic waste § 
Advances Microelectronics – enables new, more compact circuit design 5 ESURFACE PROCESS: STREAMLINED & FASTER 6 COMPARING THE TECHNOLOGIES Traditional, Subtractive Method eSurface, Additive Method Traditional circuit boards are confined to flat surfaces and can only be milled on a limited subset of materials eSurface’s process allows virtually any surface and material to be used to additively print circuits 7 YIELD: A KEY DIFFERENTIATOR § 
Yield is a key metric in the circuit fabrication industry § 
The conventional, subtractive method is woefully inadequate in its ability to produce circuit boards with smaller trace and space dimensions Ø  Yield begins to drop dramatically at reduced sizes below 75µ Ø  Costs rise exponentially to achieve size reductions § 
eSurface’s additive process dramatically boosts the yield for circuit board designs with smaller dimensions Ø  Yield exceeds 95%, even below 25µ circuit traces Ø  Microelectronics constitute a sizeable percentage of the market today and growth in the space is accelerating 8 YIELD: SUBTRACTIVE VS ADDITIVE § 
Etching/tracing errors are commonplace with the subtractive method § 
eSurface’s proprietary process improves yield by multiples on 25 and 50 micron circuit traces Conventional Process eSurface Process Trace and Space Dimensions Conventional PCB Yield eSurface PCB Yield 75 microns (3 mil) 95% 95% 50 microns (2 mil) 50% 95% 25 microns (1 mill) 10% 95% 9 ADHESION: A KEY DIFFERENTIATOR IPC 4101/24 FR-­‐4 (GF/GFG) Woven glass/epoxy § 
§ 
eSurface is the only additive technology to achieve IPC-­‐standard or better adhesion to substrate materials The IPC is a global trade association for the PCB and electronic assembly industries Test Description Standard Test Result After 1 hour bake at 250 Cº 4.00 lbs/in. Sample 1-­‐ 6.00 pli Sample 2-­‐ 6.00 pli After 550ºF Solder Float 6.00 lbs/in Sample 1-­‐ 8.00 pli Sample 2-­‐ 6.00 pli After Solvents, A, B, and C 4.57 lbs/in Sample 1-­‐ 6.00 pli Sample 2-­‐ 6.40 pli IPC 4204/11 Kapton, Copper Clad Adhesiveless Polyimide Test Description Standard Test Result After 1 hour bake at 250 Cº 6.00 lbs/in. Sample 1-­‐ 7.00 pli Sample 2-­‐ 7.00 pli After 550ºF Solder Float 6.00 lbs/in Sample 1-­‐ 8.00 pli Sample 2-­‐ 8.00 pli After Solvents, A, B, and C 6.00 lbs/in Sample 1-­‐ 8.00 pli Sample 2-­‐ 8.00 pli THE PATH FORWARD § 
Applications for eSurface’s proprietary technology are wide-­‐ranging; potential end users can be found in numerous global markets § 
Initially, eSurface is focused on becoming the dominant process in the micro-­‐
electronics segment of the printed circuit board (PCB) industry Ø  Global PCB/IC substrate market = $60 Billion § 
The Company will also target the massive global electronics and micro-­‐electronics market, which is projected to grow at a 3.8% annual clip through 2018 Ø  Global electronics/micro-­‐electronics market = $2 Trillion § 
eSurface does not plan to be a manufacturer; the Company’s primary business model is to license its technologies to the circuit fabrication industry and beyond 11 ELECTRONIC INDUSTRY SEGMENTS BY GROWTH RATE 12 SAMPLE END USER APPLICATIONS Medical Applications High Speed RF Applications Ultrasonics, CRMDs, Glucose Sensors Thin Film Semiconductor Defense, Commercial, Space Thin Metallization on Various Substrates (incl. Polyester) Flexible Displays Chip Packaging RFID Cavity Technology, 3D Medical, Commercial, Defense 13 MARKET EXPANSION & NEW APPLICATIONS eSurface’s technology opens up numerous opportunities to integrate PCBs and implant electronics into a whole new class of applications and products Breaking New Ground ü  Curved, non-­‐
planar, flexible surfaces ü  Industrial materials (incl. glass, plastics and composites) ü  Wearable products (incl. watches, shoes and clothing) 14 !
!
NEW APPLICATIONS: WEARABLE COMPUTING New Material Applications
eSurface unleashes new possibilities in applying
eSurface unleashes new possibilities in applying electrical traces to materials electrical
traces
to new materials
eSurface
network of contacts
on fabric
15 IP PORTFOLIO 27 33 PATENT APPLICATIONS TRADEMARK APPLICATIONS EarthOne holds 2 issued patents in the United States as well as several pending U.S. patent applications. EarthOne has pending patent applications in several other nations, around the world, and has recently been notified that the European Patent Office intends to issue to EarthOne an EU patent viable in each of its member states. These issued patents cover the innovative EarthOne plating process, as well as circuits manufactured using that process. On the trademark side, EarthOne has registered marks in the United States, as well as across the Americas, Europe and Asia, with a number of additional applications pending. For a full list of pending patents, view Appendix at end of Presentation 16 IP PORTFOLIO 2 ISSUED PATENTS Two pioneering patents issued with five additional follow-­‐on patents in pipeline: §  Method of Forming a Conductive Image on a Non-­‐Conductive Surface Ø  US Pat. No. 8,784,953, filed 08/16/2012 as U.S. Appl. No. 13/587,785 §  Method of Forming a Conductive Image on a Non-­‐Conductive Surface, Product by Process Ø  US Pat. No. 8,784,952, filed 02/23/2012 as U.S. Appl. No. 13/403,797 17 BUSINESS MODEL OVERVIEW Efficient & Scalable § 
IP development and licensing § 
Light Capex – no manufacturing facilities; minimal large-­‐scale equipment § 
Low Overhead – limited facilities required, no manufacturing § 
Excellent Margins – projected net margins exceeding 80% § 
Highly Scalable – extensive market for eSurface technology; ability to manage a large number of accounts with a small team 18 LICENSE MODEL: CASE STUDY Single Licensee PCB Manufacturer eSurface Revenue $1.3B X 5% = $65 Million Annual Royalty on Sales Annual Sales eSurface charges a 5% royalty on all eSurface-­‐based sales** 19 LICENSE MODEL: $60B PCB/IC Substrate Industries 25% of Global PCB/ICS Market = $15B Annual Sales eSurface Revenue X 5% = $750 Million Annual Royalty on Sales Ø  The profit margin on these revenues is expected to near or exceed 80% Ø  The revenue model above is conservative in its assumptions; eSurface has the potential to capture substantially more than 25% of the PCB market Ø  Furthermore, this revenue model does not account for any market penetration into additional segments of the $2T electronics/micro-­‐electronics space 20 CURRENT LICENSEEES § 
Sierra Circuits, Inc., Sunnyvale, CA – 14 Sept, 2012 Ø  ISO 9001:2008, ISO 13485:2003 and MilSpec MIL-­‐P-­‐55110 certified, high-­‐technology Printed Circuit Boards manufacturer (
http://esurface.com/sierra-­‐circuits-­‐leads-­‐the-­‐way-­‐in-­‐adoption-­‐of-­‐industry-­‐disrupting-­‐technology/) § 
Murrietta Circuits, Inc., Anaheim, CA – 21 Aug, 2014 Ø  ISO 9001:2008, AS 9100 Rev. C, MIL-­‐PRF-­‐55110G, MIL-­‐PRF-­‐50884, NADCAP, ITAR Registered, J-­‐STD-­‐001, and UL Listed. (http://esurface.com/murrietta-­‐circuits-­‐becomes-­‐
newest-­‐esurface-­‐technologies-­‐licensee/) § 
Component Surfaces, Inc., Poway, CA – 6 Nov, 2013 Ø  electroless gold plating and related processing services (http://esurface.com/esurface-­‐
announces-­‐certified-­‐supplier-­‐agreement-­‐with-­‐component-­‐surfaces-­‐inc-­‐to-­‐supply-­‐electroless-­‐gold-­‐
plating-­‐processes/) § 
Utah Valley University (UVU) – 12 December, 2014 Ø  design and fabrication curriculum for credit and co-­‐development of new product applications through eSurface technology. (http://esurface.com/esurface-­‐technologies-­‐signs-­‐
licensing-­‐agreement-­‐utah-­‐valley-­‐university/) 21 ESURFACE DEPLOYMENT SUCCESSES Developing Industry Relationships & Engaging Key Stakeholders Proof of Concept 25 micron advance designs produced at 95% yield rate Proven Financial Model Sierra Circuits, CSI and Murrietta Circuits have signed license agreements Commercial Shipments Murrietta Circuits shipped its first commercial P.O. (March 2015), with several more in the pipeline Sales Pipeline 73 prospective PCB manufacturers with total annual sales of over $9 Billion in annual revenue and over $475M in eSurface licensing revenue potential Supply Chain Infrastructure Industry Backing Supply-­‐chain manufacturers contracts in place Global standards bodies have been very supportive (IPC, EIPC, JPCA, KPCA) 22 CAPITAL FORMATION/STRUCTURE § 
Total capital raised through December 2014 = $13.5M § 
Series A financing round raised $8.1M (completed in March 2014) § 
Series B financing round raised $5.4M (completed in December 2014) § 
Series C growth round offering $25 million. Outstanding Shares: 29,632,825 Employee Options: 12,920,000 Warrants: Fully Diluted: Pre Money Valuation: 7,944,844 50,497,669 $300,000,000 23 SERIES C GROWTH ROUND TERMS OF RAISE: Capital: Type: Private Placement Class: Common Stock Board Seat: Closing: Pre Money Last Round: USE OF FUNDS: $25 Million Optional November 2015 $300 Million R&D: $8,000,000 Product Development & Testing: $4,500,000 IP Development and Protection: $3,500,000 Marketing: $2,000,000 Sales & Implementation Expense: $4,000,000 G&A: $3,000,000 24 MANAGEMENT TEAM David L. Benson 23+ years as a corporate turnaround, merger and start-­‐up expert with expertise in fiscal management, licensing, international sales. Started career at Deloitte & Touche, specializing in aerospace and defense. Michael Corrigan 25+ years of extensive responsibilities in operations, strategic planning, finance and administration, Senior Executive Vice President and Chief Financial Officer of Metro Goldwyn Mayer Inc. (MGM), senior partner in Entertainment, Media and Communications practice at Price Waterhouse LLP. Rowland Hanson Former Vice President of Worldwide Marketing for Neutrogena Corp. Recruited by Bill Gates at Microsoft where he was Vice President of Corporate Communications and created and executed branding strategy for “Windows,” which he named. Doug Molyneux International corporate lawyer for 25+ years in Johannesburg, London, Hong Kong, and Bermuda. Most recently, General Counsel with Amp’d Mobile and Assistant General Counsel with Global Crossing. David Torp 25+ year experience in business development, marketing and engineering. Most recently, Vice President of Standards and Technology at IPC, responsible for development of electronics industry manufacturing and assembly standards. V.P. of marketing and business development at Kester, ITW, and Rockwell Collins. Jim Ryan PCB industry veteran with more than 30 years in technology and electronics. At Sanmina Corp., in addition to serving as Director, Jim was V.P. of Business Dev. and VP/General Manager of PCB facilities in the U.S. and Asia. Recently, Jim served as V.P. of Business Dev. At Integrated Technology/Insulectro. Steve Cottrell 25+ years experience in direct sales and managing sales teams, providing information technology, satellite communications and advanced technology solutions. Director of Marketing/Strategic Sales at Data Direct Networks. Chairman & CEO President & CFO Managing Director, Global Strategic Communications Managing Director, Admin & Corporate Secretary Chief Operations Officer Vice President, Business Development Head of Sales BOARD OF DIRECTORS ADVISORY BOARD David L. Benson, Chairman § 
Corporate turnaround, merger & start-­‐up specialist Dr. William Wismann, Vice Chariman and CTO § 
Inventor of eSurface technology Michael Corrigan, Director § 
§ 
Senior Executive VP & CFO of Metro Goldwyn Mayer (MGM) Senior Partner at Price Waterhouse LLP Dr. Hsin-­‐Hsien “HH” Chung, Director § 
Chief expert on advanced phased array antenna technology John “Kip” Hunter, Col. (USAF Ret.), Director § 
First ever Director of the NRO Data fusion facility Rowland Hanson, Director § 
§ 
Personally recruited to Microsoft by Bill Gates Created and executed branding strategy for “Windows” Doug Molyneux, Secretary § 
Former Assistant General Counsel with Global Crossing Nolan K. Bushnell, Advisor § 
Co-­‐founder of original Atari, Inc. Paul Clayson, Advisor § 
Business owner, investment strategist & senior political advisor Dave Kier, Advisor § 
35 year career in the federal service, including a U.S. Army tour David E. Martin, Advisor § 
Founding CEO of M*CAM Thomas McLain, Advisor § 
Experienced Attorney, investment banker & private equity investor Hayao Nakahara, Advisor § 
PCB icon, additive processes and related technologies John “Jack” Poe, Advisor § 
Former CEO of Semtech Corp. Pat Sharp, Advisor § 
USAF design, flight test and survivability expert Gene Weiner, Advisor § 
Inductee into the IPC Raymond Pritchard Hall of Fame 26 CONTACT INFORMATION EarthOne Circuit Technologies Corporation 2236 Rutherford Rd. Suite 119 Carlsbad, CA 92008 Darren Hulstine, Director of Sales O: 760.585.9970 F: 760.683.6785 M: 805-­‐878-­‐0633 [email protected] 27 28 Current Market Targets
ADDRESSABLE MARKET SIZE – INITIAL TARGETS Market Estimated Market Size Addressable Circuit Fabrication Market Compound Annual Growth Rate (CAGR) PCB $60 Billion $54 Billion 3.8% Semiconductor, IC Substrate & Interposer $21 Billion $6 Billion 4.8% $81 Billion $533 Million 11% (increasing) Advanced Materials (e.g. Paper – bearer documents with fine features & authentication requirements, Medical -­‐ stents, pacemakers, cardiac hardware…) Totals >$162 Billion >$60.5 Billion 11% & increasing RF BOARD YIELD COMPARISON Industry standard process with line resolu=on +/-­‐ 1 mil. Yield ≈ 20%. eSurface process with line resolu=on +/-­‐ ½ mil. Yield ≈ 80%. Filter with Standard tolerances (+/-1.0 mils)
0
Filter with eSurface tolerances (+/- 0.5 mils)
0
-2.5
-2.5
Yield is only 22%
Yield=80%
-5
-5
-7.5
-10
S[2,1], S[1,1], S21 (dB)
-10
S[2,1], S[1,1], S21 (dB)
Max.
IL=5 dB
-7.5
Max. IL=5
dB
-12.5
Required
Rejection>20 dB
Failures are where
the plot crosses the
Rejection goals
-15
Required
Rejection>20
dB
-12.5
-15
-17.5
-17.5
-20
-20
-22.5
-22.5
-25
6.03 GHz, -20.15 dB
-25
4
4.4
4.8
S[2,1]
5.2
5.6
6
Frequency (GHz)
S[1,1]
6.4
6.8
7.2
7.6
S21
8
4
4.4
4.8
5.2
S[2,1]
By Norm Swanberg, Dome Resonators 5.6
6
Frequency (GHz)
S[1,1]
6.4
6.8
7.2
7.6
S21
8
IP PORTFOLIO Docket No. Application/Patent No. Country Status Docket No. Application/Patent No. Country Status EARTH.01 8784953 US Patented EARTH.01.JP 2014-­‐527191 Japan Pending EARTH.01.C1 8784952 US Patented EARTH.01.MX MX/A/2014/001980 Mexico Pending EARTH.01.C2 14/304.609 US Pending EARTH.01.MY PI2014000437 Malaysia Pending EARTH.01.WO PCT/USD2012/051193 N/A Nat’ Stages Entered EARTH.01.NZ 622408 New Zealand Pending EARTH.01.PH 1-­‐2014-­‐500400 Philippines Pending EARTH.01.AU 201229926 Australia Pending EARTH.01.SG 11201400059V Singapore Pending EARTH.01.BR BR1120140038937 Brazil Pending EARTH.01.TH 1401000847 Thailand Pending EARTH.01.CA 2,845,822 Canada Pending EARTH.01.UA 201406498 Ukraine Pending EARTH.01.CN 201280051161.2 China Pending EARTH.01.VN 1-­‐2014-­‐00710 Vietnam Pending EARTH.01.EA 201490479 Eurasia Pending EARTH.01.ZA 2014/01839 South Africa Pending EARTH.01.EP 12790696.4 Europe Intent to Grant EARTH.02 14/453,559 US Pending EARTH.01.ID P00201401533 India Pending EARTH.02.P1 61/862,924 US Converted EARTH.01.IL 231045 Israel Pending EARTH.02.WO PCT/US2014/50011 N/A Pending EARTH.01.IN 490/CHENP/2014 India Pending EARTH.03.P1 62/074,937 US Pending 31 PROFESSIONAL SERVICES Patents: One LLP (Los Angeles) & Drinker, Biddle & Reath (Washington D.C.) Licensing Agreements: Wilson Sonsini Goodrich & Rosati Securities & Compliance: Latham & Watkins, LLP Independent Accountants: PriceWaterhouseCoopers