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									               Credit Card Fingerprint Scanner



                 Grant Approval – Phase 1
                     A BioCharge Document




July 6, 2010                                     1
               Organizational Chart




July 6, 2010          Grant Approval Presentation   2
                        A BioCharge Document
               The New Currency




July 6, 2010        Grant Approval Presentation   3
                      A BioCharge Document
               Societal Problem

 Current credit card systems do not provide a
   reliable method for automatically preventing fraud
   at the time of sales.




July 6, 2010          Grant Approval Presentation   4
                        A BioCharge Document
    Monetary Importance to Society




  The cost is shared by vendors, banks, and individuals

               Credit Card Fraud Statistics Provided by Celent

July 6, 2010                    Grant Approval Presentation      5
                                  A BioCharge Document
             American’s Who Have Been
        Victims of Credit Card Theft within the Last 5 Years

                  6% of the Population
                     (17,490,000)




Population Reference Bureau                  Federal Trade Commission Survey


  July 6, 2010                Grant Approval Presentation                      6
                                A BioCharge Document
Technical




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                                             Ea

                                             Av
                                             Pr
                                             St
                                                                                            Main Disadvantage
                                                                                               Very Little Fraud
                                                       X    X    X    X             Some
                                                                                                  Protection
               Gasoline Speed Pass
                                                                                              Cashier does not
                                                  X              X    X              All
                                                                                              compare regularly
               Signature
               Customer Picture on                X              X    X    X        Few
                                                                                           Change of appearance &
                                                                                            Limit authorized users
               Card
                                                                                           Address readily available
                                             X    X                                 Most
                                                                                             & Cashier judgment
               Address Verification
               Card Verification             X              X    X         X        Most
                                                                                           Does not protect against
                                                                                                stolen cards
               Value
               Encryption of CC              X         X                  N/A       N/A
                                                                                           Fraud protection only for
                                                                                              internet purchases
               Numbers
               Pin with Hardware             X    X    X    X         X             Some
                                                                                              Password anxiety
                                                                                           & PIN can be discovered
               Security Models
                                                                                             Very few smart card
                                             X         X         X         X    X   Few
                                                                                               readers in US.
               Smart Cards

               CCFPS                         *    X   X    X    X    X    X     X                 Big Brother



               *   - Future implementation    N/A - Not Applicable
July 6, 2010                                      Grant Approval Presentation                                          7
                                                    A BioCharge Document
               Problem Solution
 Implement a hardware/software package that will
    verify biometric data stored on a credit card to that
    of its cardholder at the time of each transaction.




July 6, 2010             Grant Approval Presentation        8
                           A BioCharge Document
        Authorizing a Credit Card Sale

                 Do They Match
                       ?




July 6, 2010        Grant Approval Presentation   9
                      A BioCharge Document
                Objectives and Expected Goals
 Create a Credit Card System that is:
              Secure
              Reliable
              Fast
              Acceptable
              Easily Implemented




July 6, 2010                  Grant Approval Presentation   10
                                A BioCharge Document
                                                                   Easily
     Secure     Reliable         Fast                Acceptable
                                                                Implemented



 Current Security Flaws:
 Skimming
 Swipe and Clone
 Photography
                                              Sample Skimmer Device

 Cell phone capture
 Use of Lost or Stolen Cards
 Dishonest Employees
 Obtaining CC data for unauthorized usage

 July 6, 2010              Grant Approval Presentation                   11
                             A BioCharge Document
                                                                  Easily
    Secure     Reliable         Fast                Acceptable
                                                               Implemented



Possible Fraud                        Why not Possible
Skimming                              Smart Card prevents it. Also Must
                                      Have Matching Fingerprint

Lost or Stolen Card                   User Must Have a Matching
                                      Fingerprint
Adjustment of Template                This Would Require Reverse
                                      Engineering of > 600K LOC.

Employee or Others Infiltrates Biometric Templates are Worthless
Our Database

Fake Fingerprints                     Our Scanner Will Detect Them


July 6, 2010              Grant Approval Presentation                     12
                            A BioCharge Document
                                                                    Easily
      Secure     Reliable         Fast                Acceptable
                                                                 Implemented


 Fingerprint Comparison Technique

  False Negative – Less than 2%
  False Positive – Nearly 0%

   To Guarantee Accuracy -
         Three Different Algorithms Will Be Tested


East Shore Technology - Provider of Fingerprint Algorithms
  July 6, 2010              Grant Approval Presentation                   13
                              A BioCharge Document
                                                                   Easily
     Secure     Reliable         Fast                Acceptable
                                                                Implemented



                                                    Extraction
                                                     Process

Instantaneous                                   ~1 Second          Template


                                                                   Matching
                           Template
                                                                   Process
 ~1.5 Seconds
                                                                 < 0.1 Second

East Shore Technology - Provider of Fingerprint Algorithms
 July 6, 2010              Grant Approval Presentation                        14
                             A BioCharge Document
                                                                        Easily
    Secure           Reliable         Fast                Acceptable
                                                                     Implemented



• Total Automated Time – < 2 Seconds

                                                              Cashier
               PIN
                                                              Judgment
                          Signature



July 6, 2010                    Grant Approval Presentation                   15
                                  A BioCharge Document
                                                                     Easily
    Secure        Reliable         Fast                Acceptable
                                                                  Implemented


 Five day poll held
          Gathered information of CC bearing individuals
          Introduced our goal of biometric authorization
          Collected their opinions & reservations
 Received over 150 responses
 Well-rounded collection of second tier consumer
    market sentiment




July 6, 2010                 Grant Approval Presentation                   16
                               A BioCharge Document
                                                                                             Easily
    Secure               Reliable                            Fast              Acceptable
                                                                                          Implemented


                                Survey Statistics
                                              Approval Percentage


                                              Highly Resistant 11%




               Somew hat Resistant 11%                                             Highly Accepting 40%




                               Somew hat Accepting 38%


                                                                                         Highly Accepting
                                                                                         Somewhat Accepting
                                                                                         Somewhat Resistant
                                                                                         Highly Resistant




July 6, 2010                                         Grant Approval Presentation                              17
                                                       A BioCharge Document
                                                                    Easily
    Secure     Reliable           Fast                Acceptable
                                                                 Implemented


                 Survey Statistics
                          Resistance Ratio M/F

                                                          Female
                                                           14%




                   Male
                   86%

                                                                   Female
                                                                   Male




July 6, 2010                Grant Approval Presentation                     18
                              A BioCharge Document
                                                                  Easily
    Secure     Reliable         Fast                Acceptable
                                                               Implemented


• Easy Adjustment for the Cashier
• Some Training for Activation
• Limited Segment of the Customers Updated
  at Startup
• Extra Identification Only Needed at
  Activation
• Fingerprint Protection Optional

July 6, 2010              Grant Approval Presentation                   19
                            A BioCharge Document
   Alternative Biometric Techniques
 DNA Testing
          Expensive
          Requires laboratory examination
          Impractical due to DNA sample required


 Retinal Scans
          Too costly for wide scale implementation
          Intrusive element of scanning customer’s eye



July 6, 2010                Grant Approval Presentation   20
                              A BioCharge Document
                   Competition Breakdown
 Pay By Touch
              Currently used in some Piggly Wiggly stores
              Customer uses fingerprint to make purchases
              Total transaction time is 10 - 20 seconds
              Collects a series of points, not the whole print
              Customers are still required to sign a credit card
               receipt




July 6, 2010                    Grant Approval Presentation         21
                                  A BioCharge Document
               Competition Breakdown
 Identix
    Handles fingerprint, iris, and face recognition
     systems
    Scans using specific points on the finger
    Uses a centralized database to store data
     obtained from scanned fingerprints
    Capable of checking 100,000 matches per
     second




July 6, 2010          Grant Approval Presentation      22
                        A BioCharge Document
                    Advantages of BioCharge
 We’re Faster
              Our system would not require a customer’s
               signature for a credit card transaction
                   Saves time at checkout compared to Pay By Touch
              Because we store data on the chip itself, we only
               have to scan 10 – 20 prints, not millions
                   All of our competitors require a centralized database
                   Identix can scan 100,000 per second, but with a
                    database of nearly 25,000,000 cards, scanning
                    could take over four minutes per customer



July 6, 2010                        Grant Approval Presentation         23
                                      A BioCharge Document
                    Advantages of BioCharge
 We’re Safer
         Although       chances are virtually zero, in
               the event of a false positive, the
               transaction would still be rejected if the
               name that comes up doesn’t match the
               name on the physical card
                   The possibility exists for systems by both
                    Pay By Touch and Identix to falsely
                    identify someone and allow the
                    transaction to complete
July 6, 2010                    Grant Approval Presentation      24
                                  A BioCharge Document
               POS Dataflow Diagram




July 6, 2010         Grant Approval Presentation   25
                       A BioCharge Document
    Software Routines – Point of Sale
                                                                Card Reader
                                                        •   Graphical User Interface
               POS Terminal
                                                        •   Capture Fingerprint
          • Graphical User Interface
                                                        •   Extract Credit Card Data
          • Drive Fingerprint
                                                        •   Create Data-Packet
              Algorithm
                                                              – Both Fingerprints
          • Initiate CC Service
              Program



                                                               Backup Database
                                                               (Only When Needed)



July 6, 2010                     Grant Approval Presentation                           26
                                   A BioCharge Document
       Activation Data Flow Diagram




July 6, 2010      Grant Approval Presentation   27
                    A BioCharge Document
      Software Routines - Activation
                                                                 Card Writer
                                                  • Graphical User Interface
       Customer Service                           • Extract Fingerprint
           Terminal                               • Data Packet: The Fingerprint
      • Graphical User Interface                    & Customer Information
      • Drive CC Service                          • Write Data on the Smart Card
        Program
      • Database Application



                                                            Backup Database




July 6, 2010                       Grant Approval Presentation                     28
                                     A BioCharge Document
                   Marketing Plan

   Franchise offering proprietary credit
   Supporting CC infrastructure available
   Funds to purchase & implement technology
   Customer base that will yield successful
        implementation




July 6, 2010             Grant Approval Presentation   29
                           A BioCharge Document
               Initial Target Market

    Sears*                        Best Buy
    Wal-mart                      Circuit City
    Dillard’s                     BJ’s
    JC Penny                      Sam’s Club
    Lowe’s                        Costco
    Home Depot                    TJ Max
    Target                        Macy’s
    Lord & Taylor                 Kohl’s



July 6, 2010          Grant Approval Presentation   30
                        A BioCharge Document
                  Primary Target Market

 SEARS ROEBUCK (NYSE:S)
              25 million active credit accounts
              872 mall-based stores & 1300 outlet locations
              Annual Revenue $41B – Annual Profit $15.7B
              Predominantly female customer base
              $30,000 per year in credit card fraud lost per store




July 6, 2010                    Grant Approval Presentation     31
                                  A BioCharge Document
               Market Strategy

 Prove successful with single beta project
 Pursue a networked region of stores
 Take on full scale nationwide implementation
 Acquire more business with same POS scope




July 6, 2010        Grant Approval Presentation   32
                      A BioCharge Document
               Long Term Market Strategy

 Use Sears’ relationship with Citigroup to launch
  Visa and MasterCard campaign
 Work with fingerprint scanner manufacturers to
  develop and market technology for home based
  fingerprint scanners for secure online purchases




July 6, 2010             Grant Approval Presentation   33
                           A BioCharge Document
                Objectives - Pros
       Secure, Reliable, Fast, Acceptable, Easily
        Implemented, and it Works
       Offers a better form of fraud protection than
        currently in place
       Automates authorization process
       Alleviates password anxiety
       Eliminates cashier judgment
       Monetary/Time savings due to the reduced
        incidents of fraud
       Cloning not as accessible and made much
        more complex

July 6, 2010             Grant Approval Presentation    34
                           A BioCharge Document
               Objectives - Cons

 Imposes initial cost upon retailers


 Intrusive to a subset of customers


 Creates a target for biometric sabotage




July 6, 2010         Grant Approval Presentation   35
                       A BioCharge Document
               Major Risk Issues

 Exhaust funding before project completion


 Protection of biometric data from government or
     other agencies

 Confront law suits relating to illegal invasion of
     customer databases



July 6, 2010          Grant Approval Presentation      36
                        A BioCharge Document
                            Project Plans
 Management Plan
              Ensures that all Project Objectives are achieved
 Evaluation Plan
              Verifies the success of all critical components
 Funding Plan
              Secures funds necessary for project completion
 Resource Plan
              Controls resources by project phase
 Staffing Plan
              Achieves staff requirements by project phase
July 6, 2010                   Grant Approval Presentation       37
                                 A BioCharge Document
                 Management Plan
 Periodic review of financials to ensure that
      expenses will not overrun available funds

 Upkeep of customer relations to guarantee
      satisfaction with initial beta implementation

 Conceive & Execute market strategy to attain
      profit yielding new business



July 6, 2010             Grant Approval Presentation   38
                           A BioCharge Document
                         Evaluation Plan
 Design Inspections
              Certifies that all desired functionality is met
 Code Reviews
              Proven to remove high percentage of bugs
 Module Testing
              Verifies successful development of components
 Integration Testing
              Ensures proper assembly of all integrated parts



July 6, 2010                    Grant Approval Presentation      39
                                  A BioCharge Document
                              Funding Plan
 Capture SBIR funds by submitting timely and
  polished proposals
 Solicit additional seed funding from Investment
  Banking firms
                  Morgan Stanley, Goldman Sachs, etc.
 Enlist services of brokers and Venture Capitalist
   to further potential funds
                  Putnam, BlackRock, http://www.funkventures.com
 Attend Venture Capitalist seminars
 Attract Angel Investors


July 6, 2010                      Grant Approval Presentation       40
                                    A BioCharge Document
                           Resource Plan
 Resources are to be controlled and acquired
      through the management level
              Avoids frivolous expenses
              Holds accountability per department


 All major resources are to be budget approved
      and signed off on by upper management.
              Ensures wise purchase decisions
              Avoids potential conflicts with management plans


July 6, 2010                   Grant Approval Presentation    41
                                 A BioCharge Document
                                Staffing Plan
 Phase 1
              Need based staffing plan
                   Gains the benefits of specialization
                   Cuts costs due to employment time


 Out years
              Setup outsourcing relations for technical support
              Rely on proven and experienced staff for further
               development with little to no consulting.


July 6, 2010                        Grant Approval Presentation    42
                                      A BioCharge Document
               Phase 1 - Initiation




July 6, 2010         Grant Approval Presentation   43
                       A BioCharge Document
               Phase 1 - Milestones
 Finalize all Phase 0 Revisions
 Draft Phase Specific Documents
 Engage Legal Experts and Financiers
 Develop Prototype
 Complete Phase II Grant Proposal
 Update Web Detail
 End Phase Analysis




July 6, 2010         Grant Approval Presentation   44
                       A BioCharge Document
               Phase 1 - Deliverables
 Updated Project Plan with Phase I focus
 Phase specific Test Plans, Design docs, etc.
 Legal Contracts and Documents
 List of Prospective Investors
 Completed Concept Prototype
 Polished Phase II Grant Proposal
 Documented Postmortem and Transition Plan




July 6, 2010          Grant Approval Presentation   45
                        A BioCharge Document
           Justification of schedule Durations




July 6, 2010            Grant Approval Presentation   46
                          A BioCharge Document
           Justification of schedule Durations




July 6, 2010            Grant Approval Presentation   47
                          A BioCharge Document
           Justification of schedule Durations




July 6, 2010            Grant Approval Presentation   48
                          A BioCharge Document
           Justification of schedule Durations




July 6, 2010            Grant Approval Presentation   49
                          A BioCharge Document
           Justification of schedule Durations




July 6, 2010            Grant Approval Presentation   50
                          A BioCharge Document
                Project Budget
 Budget Component 1 – Staffing
   Labor resources enabling project completion
   Staffing Subtotal - $37,339


 Budget Component 2 – Software
   Resources to develop & test design
   Software Subtotal - $4,961


 Budget Component 3 – Hardware
   Resources to physically implement product
   Hardware Subtotal - $17,629

July 6, 2010        Grant Approval Presentation   51
                      A BioCharge Document
                  Budget Justification - Staffing
                                                                              Hours      Annual                  Total
   Staff Description             Staff Justification (Optional)               needed     Salary     Hourly       Cost

Project Manager                                                                    160    $80,288      $38.60      $6,176
Legal & Documentation
Manager                                                                            160    $72,971      $35.08      $5,613


Marketing Manager                                                                  160    $52,500      $25.24      $4,038


Quality Assurance Manager                                                          160    $64,021      $30.78      $4,925


Senior Hardware Engineer                                                           160    $51,773      $24.89      $3,983


Senior Software Engineer                                                           160    $59,253      $28.49      $4,558


Webmaster                                                                          160    $54,681      $26.29      $4,206


Credit Card Service Consultant   Expert analysis on Credit Card Data               10     $66,560      $32.00       $320


Biometric Consultant             Expert analysis on Biometric                      100    $70,964      $32.00      $3,200


Technical Writing Consultant     Edit Documents                                    10     $35,703      $32.00       $320


                                                                                             Staffing Subtotal    $37,339

July 6, 2010                                         Grant Approval Presentation                                         52
                                                       A BioCharge Document
                  Budget Justification - Software
                                                                                       Total
     Software Name         Comments                   Quantity   Price                 Cost


Borland C++ Licenses                                         4      $969                 $3,876




MySQL                                                                $0                        $0




Java (part of Linux)                                                 $0                        $0


East Shore Fingerprint
Algorithm                                                    1      $100                  $100


NIST Testing Fingerprint
Database                                                     1       $90                   $90


Antheus Inc. Fingerprint
Algorithm                                                    1      $895                  $895




                                                                   Software Subtotal     $4,961

July 6, 2010                  Grant Approval Presentation                                      53
                                A BioCharge Document
               Budget Justification - Hardware
                                                                                                      Total
    Hardware Name                   Comments                         Quantity   Price                 Cost


Desktop Computers      For individual system pricing, see SBIR 6.2          5     Varies                $7,500



Laptop Computers       For individual system pricing, see SBIR 6.2          4     Varies                $6,804



Workstations           For individual system pricing, see SBIR 6.2          2     Varies                $2,689



Fingerprint Scanners                                                        1      $196                  $196



Smart Card Readers                                                          1      $200                  $200



Smart Cards                                                                50        $2                  $100



Smart Card Writers                                                          1      $140                  $140



                                                                                  Hardware Subtotal    $17,629

July 6, 2010                                Grant Approval Presentation                                       54
                                              A BioCharge Document
                      Budget Summary – Phase 1

Staffing Subtotal                                           $37,339




Software Subtotal                                            $4,961




Hardware Subtotal                                           $17,629




Phase 1 Subtotal                                            $59,929



Staff Overhead 40%                                          $14,936



Phase 1 Grand Total                                         $74,865



SBIR 1 Funding                                              $75,000


Phase 1 Surplus                                               $135


July 6, 2010                  Grant Approval Presentation       55
                                A BioCharge Document
                       Commercial Profits

 Customer Return on Investment
              Sears Example


 Corporate Profits
              Company Profit Analysis




July 6, 2010                   Grant Approval Presentation   56
                                 A BioCharge Document
                                         Return on Investment - Sears

                     Total Implementation Cost
                          (#of stores) * (avg. # of registers) * (1500)
                          Sears Ex: 872 * 40 * 1500 = $52,320,000


                        Return on Investment to occur in n years
                         n = (Implementation Cost)/(Annual Fraud Cost)
                          Sears Ex: $52,320,000/(872*30,000) = 2 years

Of course, the increase in budget also pushes back the approximate return on investment date. According to the new data, after only two years, the system will have completely paid for itself, and the stores have the
        potential to realize an additional $26 million in increased profit after this time due to fraud prevention.



                   July 6, 2010                                                                     Grant Approval Presentation                                                                                           57
                                                                                                      A BioCharge Document
                                 Corporate Profits
                           Funding                                                              Profit Analysis

Phase 0 Cost                                $0                                  Investment Payback                      $1,739,086



Phase 1 Cost                           $74,865                                  Investment Payback Interest 7%           $121,736



Phase 2 Cost                         $1,211,348                                 Investment Payback Total                $1,860,822



Phase 3 Cost                          $827,738                                        Production cost per unit               $800



SBIR Phase 1 Funding                                    $74,865                   Cost per unit training/installation        $300



SBIR Phase 2 Funding                                   $300,000                         Sales price per unit               $1,500



Loan Phase 2                                           $911,348                             Profit per unit                  $400



Loan Phase 3                                           $827,738                       Break even – Units Sold                4652



Total Development Cost/Funding       $2,113,951      $2,113,951                      Break even – Total Sales           $6,978,000

July 6, 2010                                      Grant Approval Presentation                                                  58
                                                    A BioCharge Document
                                                        Corporate Profits
                                                                             Break Even - Sales


              $3,500,000



              $3,000,000



              $2,500,000



              $2,000,000
 Net Income




              $1,500,000



              $1,000,000



               $500,000



                     $0
                           1   274 547 820 1093 1366 1639 1912 2185 2458 2731 3004 3277 3550 3823 4096 4369 4642 4915 5188 5461 5734 6007 6280 6553 6826 7099 7372
                                                                                          Units Sold

                                                                                       Sales    Break Even




July 6, 2010                                                            Grant Approval Presentation                                                            59
                                                                          A BioCharge Document
                   Approval For Continuation
 Proof of need
              Billions of dollars in monetary damage to US
               consumers and businesses
 Proof of Feasibility
              Technology necessary exists and is readily
               available for such implementation
 Proof of Marketability
              Acceptance demographic and acceptance of
               society growing
 Do you approve?

July 6, 2010                   Grant Approval Presentation    60
                                 A BioCharge Document

								
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