Hi Brian and Rick,

Attached are the meeting notes from todays call.   Fathom notetaker is by
far one of the most advanced note takers we have seen.   Thanks again for
taking our call and helping us through this.  I am personally very thankful
for your time you have spent on our project.   Please let us know if you
need anything else.

<https://lithiumbatterycompany.com/>
<https://www.instagram.com/lithiumbatteryco/>
<https://www.linkedin.com/company/the-lithium-battery-company>
<https://www.facebook.com/LithiumBatteryCompany/>
<https://www.youtube.com/c/LithiumBatteryCompany>
<https://lithiumbatterycompany.com/>
NATHAN A. STARON
Founder / CEO
Lithium Battery Company
Cell Phone 813-504-0074
Phone 844-GET-LITHIUM
Nathan@lithiumbatterycompany.com
Schedule A Zoom <https://scheduler.zoom.us/nathan-staron/lithiumbatteryco>



---------- Forwarded message ---------
From: Fathom <no-reply@fathom.video>
Date: Thu, Aug 7, 2025 at 12:02 PM
Subject: Recap of your meeting with MAVRIX
To: Nathan Staron <nathan@lithiumbatterycompany.com>


Meeting Purpose Discuss Lithium Battery Co's financial status, facility
plans, and potential investment partnership with Bayfront Capital. Key
Takeaways - LBC has $2.85M equipment loan with Climate First Bank, with
most equipment arriving by September (delayed by typhoon). Equipment needs
a facility for installation, with LOIs dependent on securing location. -
Company transitioning from e-commerce ($3.7M peak revenue) to
manufacturing, with pending litigation for $526K+ recovery from previous
landlord (hearing January 2026). - Immediate need: Secure new facility by
August 12-13 deadline; landlord requires confirmation of financial sponsor
to hold property. - Multiple LOIs in pipeline including potential $10M deal
for 2026 (growing to $100M by year 3), with Boeing and Southern Company
opportunities advancing. Topics Financial Status & History - LBC operating
since 2014, primarily as e-commerce business with peak revenue of $3.7M in
2020-21 - YTD 2025 revenue: $368K reported through June + approximately
$300K in recent orders (FBI, LG, GE) - 2024 financials: $1.031M revenue
with $122K profit (approx. 15-16% NOI) - $482K equity invested by founders,
with $221.9K allocated to equipment purchase - Current balance sheet shows
$526K "Litigation Capital" (paid in protest to previous landlord) -
Insurance payout from destroyed research vessel contributed to equity for
Climate First loan - Company transitioning to C-Corp structure to create
clean balance sheet for institutional financing Equipment & Manufacturing
Capacity - $2.85M loan secured for equipment purchase (most on water,
arriving September 5-7, delayed by typhoon) - Equipment required UL
compliance upgrades, increasing costs by $315K - 75% of equipment currently
on water; remaining line held pending final payment - Equipment was
pre-commissioned in China; estimated 6 weeks for installation after arrival
- Large cylindrical assembly line has customer lined up upon arrival in
Tampa Facility Situation & Litigation - Previous facility issue: landlord
falsified documents during due diligence (asbestos presence) - $526K paid
in protest to Chosen Industries (previous landlord) - Legal case proceeding
as plaintiff with first hearing scheduled for January 2026 - Landlord
triggered default; LBC expects reimbursement for all costs incurred finding
new facility - New facility: landlords flexible but require confirmation of
financial sponsor by August 12-13 - Security deposit for new facility:
$233,698 (landlords willing to accept in three $77K payments) Market
Strategy & Pipeline - Multiple LOIs pending facility/equipment confirmation
- Key prospect: Battery company with $10M potential for 2026, growing to
$100M by year 3 - This company owns market for AGM batteries in data
centers/nuclear facilities, transitioning to sodium chemistry - Boeing
opportunity advancing for small battery products - Southern Company meeting
scheduled for tomorrow - Strategy focuses on established companies with
existing distribution channels rather than startups - Industry experiencing
consolidation, eliminating middlemen who simply rebrand Chinese products
Partnership Exploration - Bayfront Capital conducting due diligence for
potential investment - Brian requested pro forma financial projections,
equity table, and formation documents - Brian sees "path forward" despite
company's challenges, appreciates resilience - Immediate need: LOI from
Bayfront to show landlords by August 12-13 deadline Next Steps - Jarrett to
provide 5-year pro forma financial model within 45 minutes - Jarrett to
upload company formation documents and equity/cap table to data room -
Nathan to pursue additional LOI from Boeing - Brian to review materials and
potentially provide letter of interest showing due diligence progress - LBC
team to continue Southern Company discussions (meeting tomorrow) - Fathom
Notetaker link to be sent to Brian as alternative to his current solution
[image: FATHOM]
<https://fathom.video/?utm_campaign=postmeetingsummary&utm_content=header&utm_medium=email>
Meeting with MAVRIX
LBC x Bayfront Capital
August 07, 2025  •  60 mins  •  View Meeting
<https://fathom.video/calls/373622250?tab=summary> or Ask Fathom
<https://fathom.video/calls/373622250?tab=ask_fathom>
Action Items ✨
Upload dynamic 5-yr pro forma Excel model to Proton Drive financial section
within 45 mins
<https://fathom.video/calls/373622250?tab=summary&timestamp=935.9999>
Jarrett Brownfield
Attempt to secure Letter of Interest from Boeing for battery products
<https://fathom.video/calls/373622250?tab=summary&timestamp=1545.9999>
Nathan Staron
Create & upload go-forward equity table w/ balances, shareholders to data
room <https://fathom.video/calls/373622250?tab=summary&timestamp=3395.9999>
Jarrett Brownfield
Upload company formation docs, operating agreements, legal docs to data
room <https://fathom.video/calls/373622250?tab=summary&timestamp=3454.9999>
Jarrett Brownfield
Email Brian once all requested docs uploaded to notify completion
<https://fathom.video/calls/373622250?tab=summary&timestamp=3486.9999>
Jarrett Brownfield
Meeting Summary ✨
General Template Customize
<https://fathom.video/calls/373622250?initial_open_modal=modify_template&tab=summary>
  •  Change Template
<https://fathom.video/calls/373622250?initial_open_modal=select_template&tab=summary>

Meeting Purpose

Discuss Lithium Battery Co's financial status, facility plans, and
potential investment partnership with Bayfront Capital.
Key Takeaways

   -

   LBC has $2.85M equipment loan with Climate First Bank, with most
   equipment arriving by September (delayed by typhoon). Equipment needs a
   facility for installation, with LOIs dependent on securing location.
   <https://fathom.video/calls/373622250?tab=summary&timestamp=13.0>
   -

   Company transitioning from e-commerce ($3.7M peak revenue) to
   manufacturing, with pending litigation for $526K+ recovery from previous
   landlord (hearing January 2026).
   <https://fathom.video/calls/373622250?tab=summary&timestamp=1710.0>
   -

   Immediate need: Secure new facility by August 12-13 deadline; landlord
   requires confirmation of financial sponsor to hold property.
   <https://fathom.video/calls/373622250?tab=summary&timestamp=3314.0>
   -

   Multiple LOIs in pipeline including potential $10M deal for 2026
   (growing to $100M by year 3), with Boeing and Southern Company
   opportunities advancing.
   <https://fathom.video/calls/373622250?tab=summary&timestamp=1556.0>

Topics Financial Status & History

   -

   LBC operating since 2014, primarily as e-commerce business with peak
   revenue of $3.7M in 2020-21
   <https://fathom.video/calls/373622250?tab=summary&timestamp=1713.0>
   -

   YTD 2025 revenue: $368K reported through June + approximately $300K in
   recent orders (FBI, LG, GE)
   <https://fathom.video/calls/373622250?tab=summary&timestamp=1662.0>
   -

   2024 financials: $1.031M revenue with $122K profit (approx. 15-16% NOI)
   <https://fathom.video/calls/373622250?tab=summary&timestamp=1875.0>
   -

   $482K equity invested by founders, with $221.9K allocated to equipment
   purchase
   <https://fathom.video/calls/373622250?tab=summary&timestamp=1357.0>
   -

   Current balance sheet shows $526K "Litigation Capital" (paid in protest
   to previous landlord)
   <https://fathom.video/calls/373622250?tab=summary&timestamp=2621.0>
   -

   Insurance payout from destroyed research vessel contributed to equity
   for Climate First loan
   <https://fathom.video/calls/373622250?tab=summary&timestamp=2433.0>
   -

   Company transitioning to C-Corp structure to create clean balance sheet
   for institutional financing
   <https://fathom.video/calls/373622250?tab=summary&timestamp=1602.0>

Equipment & Manufacturing Capacity

   -

   $2.85M loan secured for equipment purchase (most on water, arriving
   September 5-7, delayed by typhoon)
   <https://fathom.video/calls/373622250?tab=summary&timestamp=1264.0>
   -

   Equipment required UL compliance upgrades, increasing costs by $315K
   <https://fathom.video/calls/373622250?tab=summary&timestamp=1483.0>
   -

   75% of equipment currently on water; remaining line held pending final
   payment
   <https://fathom.video/calls/373622250?tab=summary&timestamp=1264.0>
   -

   Equipment was pre-commissioned in China; estimated 6 weeks for
   installation after arrival
   <https://fathom.video/calls/373622250?tab=summary&timestamp=1483.0>
   -

   Large cylindrical assembly line has customer lined up upon arrival in
   Tampa <https://fathom.video/calls/373622250?tab=summary&timestamp=1430.0>

Facility Situation & Litigation

   -

   Previous facility issue: landlord falsified documents during due
   diligence (asbestos presence)
   <https://fathom.video/calls/373622250?tab=summary&timestamp=2191.0>
   -

   $526K paid in protest to Chosen Industries (previous landlord)
   <https://fathom.video/calls/373622250?tab=summary&timestamp=2067.0>
   -

   Legal case proceeding as plaintiff with first hearing scheduled for
   January 2026
   <https://fathom.video/calls/373622250?tab=summary&timestamp=2166.0>
   -

   Landlord triggered default; LBC expects reimbursement for all costs
   incurred finding new facility
   <https://fathom.video/calls/373622250?tab=summary&timestamp=2139.0>
   -

   New facility: landlords flexible but require confirmation of financial
   sponsor by August 12-13
   <https://fathom.video/calls/373622250?tab=summary&timestamp=3314.0>
   -

   Security deposit for new facility: $233,698 (landlords willing to accept
   in three $77K payments)
   <https://fathom.video/calls/373622250?tab=summary&timestamp=1387.0>

Market Strategy & Pipeline

   -

   Multiple LOIs pending facility/equipment confirmation
   <https://fathom.video/calls/373622250?tab=summary&timestamp=1456.0>
   -

   Key prospect: Battery company with $10M potential for 2026, growing to
   $100M by year 3
   <https://fathom.video/calls/373622250?tab=summary&timestamp=1556.0>
   -

   This company owns market for AGM batteries in data centers/nuclear
   facilities, transitioning to sodium chemistry
   <https://fathom.video/calls/373622250?tab=summary&timestamp=3039.0>
   -

   Boeing opportunity advancing for small battery products
   <https://fathom.video/calls/373622250?tab=summary&timestamp=1556.0>
   -

   Southern Company meeting scheduled for tomorrow
   <https://fathom.video/calls/373622250?tab=summary&timestamp=2936.0>
   -

   Strategy focuses on established companies with existing distribution
   channels rather than startups
   <https://fathom.video/calls/373622250?tab=summary&timestamp=3131.0>
   -

   Industry experiencing consolidation, eliminating middlemen who simply
   rebrand Chinese products
   <https://fathom.video/calls/373622250?tab=summary&timestamp=3241.0>

Partnership Exploration

   -

   Bayfront Capital conducting due diligence for potential investment
   <https://fathom.video/calls/373622250?tab=summary&timestamp=2868.0>
   -

   Brian requested pro forma financial projections, equity table, and
   formation documents
   <https://fathom.video/calls/373622250?tab=summary&timestamp=2898.0>
   -

   Brian sees "path forward" despite company's challenges, appreciates
   resilience
   <https://fathom.video/calls/373622250?tab=summary&timestamp=2871.0>
   -

   Immediate need: LOI from Bayfront to show landlords by August 12-13
   deadline
   <https://fathom.video/calls/373622250?tab=summary&timestamp=3375.0>

Next Steps

   -

   Jarrett to provide 5-year pro forma financial model within 45 minutes
   <https://fathom.video/calls/373622250?tab=summary&timestamp=3400.0>
   -

   Jarrett to upload company formation documents and equity/cap table to
   data room
   <https://fathom.video/calls/373622250?tab=summary&timestamp=3465.0>
   -

   Nathan to pursue additional LOI from Boeing
   <https://fathom.video/calls/373622250?tab=summary&timestamp=2956.0>
   -

   Brian to review materials and potentially provide letter of interest
   showing due diligence progress
   <https://fathom.video/calls/373622250?tab=summary&timestamp=3375.0>
   -

   LBC team to continue Southern Company discussions (meeting tomorrow)
   <https://fathom.video/calls/373622250?tab=summary&timestamp=2936.0>
   -

   Fathom Notetaker link to be sent to Brian as alternative to his current
   solution
   <https://fathom.video/calls/373622250?tab=summary&timestamp=658.0>

View Meeting → <https://fathom.video/calls/373622250?tab=summary>
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