Dear Shareholders,

Ahead of our 2023 Annual Shareholder Meeting…
2.  See 2023 budget attached and comparison budget to actual 2022 along with DRAFT Notes to Financials and Management Analysis 2022 Year End Financials (working with CPAs to complete). – Click Here
3.  Current estimated valuations for each portfolio asset with Cal-X Stars Business Accelerator, Inc. current estimated ownership value   Last 3rd party 409a Valuation Cal-X Stars Business Accelerator, Inc. >  Five 3rd party independent 409a valuations have been completed by outside parties and ALL of them agreed exactly with our previous valuations determined by our internal board of financial experts validating our valuation methodologies.
CEO Guesstimate mid-year 2022 on what portfolio assets are closest to an exit opportunity >
4.  2022 Draft Annual Report for Leonhardt Ventures LLC which includes accelerator and portfolio updates  >
5.  1Q 2023 Letter to Shareholders Update Letter published on web site >
6.  2023 Goals published in January 2023 on our web site > Includes pre-clinical and clinical studies goals for the year.
Current pre-clinical studies on slate or in process include EyeCell, DepressiStim, BioLeonhardt, Valvublator, ErectiStim.
Current clinical studies on slate, in process or possible for 2023 include; BodStim, OrthoStim, ErectiStim, BladderCell/B-Alive, DepressiStim, KidneyCell, OrthodontiCell, BreatheStim, ArchStim, ImplantStim, DentaCell, Instim, Second Brain, BioLeonhardt, Valvublator, Stem Cell Bra, TestiStim, HairCell, SkinStim, Second Heart Assist, Inc., EyeCell, MemoryStim, TremorStim, CancerCell.
8.  Board of Directors up for reelection in 2023 >
Howard Leonhardt, Dr. Leslie Miller, Karin Koch, Dr. Stuart Williams, Jeremy Koff, Dr. Robert Kellar, Jeff Donofrio, Dr. Patrick Griffith voting directors.  Non-voting Directors Dr. Dipti Itchhaporia, Dr. Shaista Malik, Dr. Tim Henry.  New nominated non-voting director Anthony Domenici contract CFO >
Proposed Annual Board Pay $40K a year payable in shares, share options or cash at board discretion.
Published Board Governance Document >
9.  Proposed Officer Salaries 2023
No pay raises are proposed for 2023.
  • Howard Leonhardt CEO – $130K (note only taking minimum salary wage in cash rest is deferred with 8% interest).
  • Dr. Leslie Miller CMO – $130K (taken 100% in share options at this time)
  • Dr. Jorge Genovese VP Bioelectric Regeneration Research and Irvine R&D Lab Manager – $130K
All officers eligible for up to 100% of base salary discretionary bonuses for meeting 2023 published goals.
Accelerator Core Team of key advisors and team members >
11.  Primary Facilities
b.  Pre-Clinical and R&D Lab San Diego >
c.  Device Lab Tustin, CA >
d.  Mettler Electronics Anaheim, CA >
e.  HTM Electronics Amparo, Brazil >
f.   Headquarters office and warehouse, small lab and shipping 1 Kent Court, Mission Viejo, CA 92617
14.  2022 LSI Emerging Medtech Summit Dana Point Presentation >
Kindest Regards,
Howard J. Leonhardt
Executive Chairman & CEO
Cal-X Stars Business Accelerator, Inc.
1 Kent Court
Mission Viejo, CA 92617
Primary R&D Lab
Leonhardt’s Launchpads powered by Cal-X Stars Business Accelerator, Inc.
5270 California Avenue
Irvine, CA 92617