Spencer Irvine, CEO: We at AirVentions are pleased with our accomplishments to date and are quite excited by prospects moving forward. More specifically:

2010 REVIEW

• AirVentions formally incorporated August 2010.
• Target start-up capital was exceeded.
• Secured 2000 sq. ft. prototyping and testing facility with lab work/office space in Cambridge, MA (temporary).
• Airline industry executive advisor and communications director have joined AirVentions. Further, candidates with mechanical integration and electronics expertise have been identified and contacted.
• In addition to our two approved patents, ongoing patent activities involve drafting provisional to expand coverage that will include new technologies and vehicles.
• Work on the anti-collision prototype has progressed significantly. The basic proof of concept has been completed and activities related to capability enhancements are ongoing.

2011 OUTLOOK/GOALS

• Obtain long term lab work/office space in Cambridge, MA area.
• Address patent issues regarding new sensor technology and collision systems design.
• Complete initial stage of working prototype.
• Raise seed capital primarily for prototype enhancement/revisions and pilot project.
• Address staffing and functional expertise in the following areas: mechanical integration, electronics and business development.
• Continue to raise awareness/profile of AirVentions Inc. through participation at key industry meetings/trade shows and utilizing available media.

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