FREQUENTLY ASKED QUESTIONS FOR INVESTORS

Leonhardt’s Launchpads by Cal-X Stars Business Accelerator, Inc.
Investor Relations

Q: Where is Leonhardt’s Launchpads headquarters?

A: 18575 Jamboree Rd #6, Irvine, CA 92612

Addresses for all locations may be found here > Click Here

Q: When was Leonhardt’s Launchpads formed?

A: Accelerator/incubator operations for organ regeneration and recovery focused startups began in Northern California in 2008, in Southern California (Santa Monica-Los Angeles) in 2012, Minneapolis 2013, Utah in late 2015, and branches were added in Pittsburgh, Brazil and Australia in 2019. Cal-X Stars Business Accelerator, Inc. DBA Leonhardt’s Launchpads was incorporated in California in 2013, Leonhardt’s Launchpads Utah, Inc. was incorporated in early 2016 in Utah. Leonhardt Ventures LLC began in 1982 in Minneapolis, Minnesota as HJ Leonhardt & Co. a sole proprietorship and was converted to Leonhardt Vineyards LLC in 2005 and DBA Leonhardt Ventures in Los Angeles in 2013 and Leonhardt Ventures LLC in 2020. Locations over the years – Leonhardt Ventures LLC the parent of Leonhardt’s Launchpads was founded in Minneapolis, Minnesota in 1982 originally as H.J. Leonhardt & Co., moved to Savannah, Georgia in 1983, to Miami/Ft. Lauderdale in 1985, to Geyserville/Santa Rosa, California in 2000 (dual office with Miami-Fort Lauderdale and Geyserville/Santa Rosa, CA 2000 to 2009) and to Santa Monica/Los Angeles, CA in 2008 (dual office with Geyserville/Healdsburg and Santa Monica 2000 to 2013) with a branch offices opened in Minneapolis in 2013, Salt Lake City, Utah in November 2015. Leonhardt Ventures LLC headquarters today is 613 Iris Avenue, Corona Del Mar, CA 92625 and Cal-X Stars Business Accelerator, Inc. DBA Leonhardt’s Launchpads is headquartered at 18575 Jamboree Rd #6, Irvine, CA 92612 both about 45 miles south of Los Angeles and about 50 miles north of San Diego County.

Q: Where does Leonhardt’s Launchpads primarily operate?

A:  

Addresses for all locations may be found here > https://leonhardtventures.com/contact/

California
Headquarters in Orange County Irvine, California at WeWork
R&D Office at The Cove at UCI Irvine, California
ScaleLA office in West LA
R&D Lab access at Pacific Neurosciences Institute Santa Monica, CA
R&D Lab access at John Wayne Cancer Institute, Santa Monica, CA
Research collaboration at USC Keck Medical Center Los Angeles, CA
Research collaborations at UCLA Westwood Los Angeles, CA
Research and patent licensing California Institute of Technology (CalTech) Pasadena, CA
Research and supplier collaboration Fluid Synchrony LLC Pasadena, CA
Bioelectric stimulator manufacturing OEM Anaheim, CA – Mettler Electronics
Bioelectric implantable stimulator development Santa Clarita, CA – QIG Greatbatch
Research collaboration Alfred Mann Foundation Santa Clarita, CA – wireless power and more
R&D Lab access at UNC Foundation Petaluma, CA
Research collaboration UC Irvine, California
Prototype building and testing DeviceLab Tustin, California
Prototype building and testing Rev1 Engineering Murrieta, CA
Research collaboration California Medical Innovation Institute San Diego, CA

Utah

Headquarters @ BioInnovations Gateway, South Salt Lake City, Utah
WeWork Lehi and Salt Lake City, Utah
Center for Medical Innovation Research Park, Salt Lake City, Utah
Research collaborations at University of Utah
Biomerics OEM manufacturing Salt Lake City, Utah
Sorenson Nanofab Salt Lake City, Utah
Nelson Labs Testing Salt Lake City, Utah

Brazil
Headquarters in Porto Allegre, Brazil
Research collaborations in Sao Paulo, Brazil
Research collaborations in Rio De Janeiro, Brazil
Research collaborations in Brasilia, Brazil

Minneapolis
Headquarters in Ham Lake, Minnesota
OEM manufacturing at Biomerics Brooklyn Park, Minnesota
Pre-clinical studies at American Preclinical Sciences Coon Rapids, Minnesota
Research collaborations at University of Minnesota, Minneapolis, Minnesota
EyeCell R&D Coon Rapids, Minnesota with Dr. Patrick Johnson
Business Development Office WeWork, Minneapolis, Minnesota
Cirtec OEM manufacturing stimulators, pumps and leads Minneapolis, Minnesota

Australia

Headquarters in Brisbane, Queensland, Australia
Branch office at WeWork, Sydney, Australia
Research collaboration Queensland University of Technology Brisbane, Australia
Research collaboration with Hydrix Melbourne, Australia
Research collaboration with St. Vincents Hospital, Sydney, Australia

Pittsburgh
Headquarters in Pittsburgh, CA
Research collaboration with Allegheny Health Network.
Research collaboration Carnegie Mellon University
Research collaboration and patent licensing with Vascor Pittsburgh.

Q: Where do Leonhardt’s Launchpads startups conduct their research?

In addition to the below we have active soon to be active clinical research studies in these locations…

1. Multiple locations in Brazil.
2. Multiple locations in South Africa.
3. Multiple locations in Mexico.
4. Multiple locations in Eastern Europe including Georgia, Ukraine, Poland and Czech Republic.
5. Multiple locations in the USA including Florida, California, Alabama, Hawaii and Utah.
6. Multiple locations in Australia.

Addresses for all locations may be found here > https://leonhardtventures.com/contact/

California
Headquarters in Orange County Irvine, California at WeWork
R&D Office at The Cove at UCI Irvine, California
ScaleLA office in West LA
R&D Lab access at Pacific Neurosciences Institute Santa Monica, CA
R&D Lab access at John Wayne Cancer Institute, Santa Monica, CA
Research collaboration at USC Keck Medical Center Los Angeles, CA
Research collaborations at UCLA Westwood Los Angeles, CA
Research and patent licensing California Institute of Technology (CalTech) Pasadena, CA
Research and supplier collaboration Fluid Synchrony LLC Pasadena, CA
Bioelectric stimulator manufacturing OEM Anaheim, CA – Mettler Electronics
Bioelectric implantable stimulator development Santa Clarita, CA – QIG Greatbatch
Research collaboration Alfred Mann Foundation Santa Clarita, CA – wireless power and more
R&D Lab access at UNC Foundation Petaluma, CA
Research collaboration UC Irvine, California
Prototype building and testing DeviceLab Tustin, California
Prototype building and testing Rev1 Engineering Murrieta, CA
Research collaboration California Medical Innovation Institute San Diego, CA

Utah

Headquarters @ BioInnovations Gateway, South Salt Lake City, Utah
WeWork Lehi and Salt Lake City, Utah
Center for Medical Innovation Research Park, Salt Lake City, Utah
Research collaborations at University of Utah
Biomerics OEM manufacturing Salt Lake City, Utah
Sorenson Nanofab Salt Lake City, Utah
Nelson Labs Testing Salt Lake City, Utah

Brazil
Headquarters in Porto Allegre, Brazil
Research collaborations in Sao Paulo, Brazil
Research collaborations in Rio De Janeiro, Brazil
Research collaborations in Brasilia, Brazil

Minneapolis
Headquarters in Ham Lake, Minnesota
OEM manufacturing at Biomerics Brooklyn Park, Minnesota
Pre-clinical studies at American Preclinical Sciences Coon Rapids, Minnesota
Research collaborations at University of Minnesota, Minneapolis, Minnesota
EyeCell R&D Coon Rapids, Minnesota with Dr. Patrick Johnson
Business Development Office WeWork, Minneapolis, Minnesota
Cirtec OEM manufacturing stimulators, pumps and leads Minneapolis, Minnesota

Australia

Headquarters in Brisbane, Queensland, Australia
Branch office at WeWork, Sydney, Australia
Research collaboration Queensland University of Technology Brisbane, Australia
Research collaboration with Hydrix Melbourne, Australia
Research collaboration with St. Vincents Hospital, Sydney, Australia

Pittsburgh
Headquarters in Pittsburgh, CA
Research collaboration with Allegheny Health Network.
Research collaboration Carnegie Mellon University
Research collaboration and patent licensing with Vascor Pittsburgh.

Q: Who currently owns Leonhardt’s Launchpads by Cal-X Stars Business Accelerator, Inc.?
A: Cal-X Stars Business Accelerator, Inc. DBA Leonhardt’s Launchpads currently has approximately 161 stakeholders. 50.1% is owned by Leonhardt Ventures LLC and 49.9% is held by 160 other stakeholders the lions share of whom are involved with the company as advisors in addition to being investors.
Q: What is the Leonhardt’s Launchpads business model?

A: We focus exclusively only on organ regeneration and recovery innovations and startups. We accelerate approximately 30 to 35 innovations https://leonhardtventures.com/development-pipeline/ and their corresponding startups in any given portfolio class year. Most of the startups are based on the same Leonhardt patented and patent pending technology platform of bioelectric stimulation + micro infusion pump + mixed stem cell based regeneration composition just directed towards different organs. The business model is to accelerate each innovation through first-in-human clinical study results and then seek out a strategic partner/buyer to carry the development the rest of the way to market leadership. The accelerator strives to arrange a milestone based acquisition and a 3% royalty on net sales for all products forward when possible. We had from 2012 through 2018 a small portfolio of three regenerative economy startups that were designed to generate short term revenues and profits which were intended to be re-invested in organ regeneration and recovery research non-dilutive to shareholders and these were divested into Cal-Impact Social Good Impact Accelerator in 2019 www.cal-impact.com as the Cal-X Stars Business Accelerator, Inc. DBA Leonhardt’s Launchpads board and shareholders voted to FOCUS exclusively on organ regeneration and recovery technologies only. Cal-X Stars Business Accelerator, Inc. DBA Leonhardt’s Launchpads still holds a small percentage of ownership, subject now to dilution, in each in exchange for the resources provided to help these startups and innovations get off the ground .

Q: What is the 2:1 accelerator investment deal for early stage investors?
A:  This means if you invest as example $30,000 you receive $30,000 value worth of stock shares certificate in Cal-X Stars Business Accelerator, Inc. DBA Leonhardt’s Launchpads AND a warrant giving you the right to acquire $30,000 worth of shares of any of the startups in the accelerator at no additional charge.  So you receive 2:1 $60,000 worth of shares in exchange for a $30,000 investment.   You can wait until Dec. 31 of the year you invested to decide your allocation or you can apply it immediately.  You can for example allocated $1000 each into all 30 startups OR you can decide to allocated $10,000 each into only 3 of your most favorite startups.  In all cases the conversion of cash warrants into shares is at the prevailing market price of the shares at the time of executing the warrant.
Q: How is our private placement filed?
A:  Under 506D part C in California and other states which permits public solicitation and is restricted to verified accredited investors only.  The original accelerator PPM was created and filed in 2013 with the help of Methven & Associates and is updated annually with our Annual Report or Newsletter.
Q: Where can I find current shares prices and valuations for each startup to know the number of shares I would receive when I convert my held 2:1 warrant into shares?

A: Current share prices and valuations for all Licensable Technology Platforms (LTPs) and startups may be found at https://leonhardtventures.com/valuations/. Email us at howard@leonhardtventures.com to receive an access password.
Q10 through Q14 remain unchanged for now.

Q: What are the rules and conditions for innovations and startups entering Leonhardt's Launchpads accelerator?
All of our innovations and startups so far in our accelerator(s) since 2008 have emanated from the Leonhardt Ventures LLC venture creation lab or one of it’s majority controlled startups or subsidiaries such as DentaCell Accelerator. 
Leonhardt Ventures led by Howard Leonhardt has been working on organ regeneration, endovascular and recovery technology research and development since the early 1980’s.  Howard J. Leonhardt has led directly over $100 million in capital raised for this research over this time and indirectly has secured another $20 million in funding from in-direct investments, research grants, subsidies or sweat equity provided.   Howard J. Leonhardt as of November 2012 prior to founding of Cal-X Stars Business Accelerator, Inc. had 21 issued patents including a pioneering cardiovascular balloon catheter PolyCath, the first stem cell delivery catheter Pro-Cell, the first commercially successful endovascular stent graft system for abdmonimal and thoracic aortic aneurysm repair without major surgery TALENT, one of the first biological pacemakers BioPace, a series of electromagnetic radiation delivery catheters RadiCath, improvements to intravascular lungs PENSIL vibrational energy, stem cell based mixed compositions for organ regeneration, combination of bioelectric stimulation and mixed stem cell based biologics composition for organ regeneration, improvements to stem cell delivery catheters MyoCath and one of the first percutaneous systems for heart valve replacement without surgery.  Hundreds of thousands of patients have been treated with Leonhardt’s inventions since the 1980’s. In the late 1980’s he patented and developed the first predictably compliant cardiovascular balloon catheter the PolyCath. Leonhardt’s invented stent graft with multiple issued patents is the world’s leading system today for repair of aortic aneurysms without surgery. He led a team in Howard Leonhardt collaborated with Dr. Robert Becker in the late 1980’s after he published with book Body Electric with a first project focused on renewing blood flow and healing wounds on legs.  In 1988 his long standing research partner and advisor Dr. Race Kao working with Dr. George Magovern in Pittsburgh completed the world’s first case of muscle stem cell repair of an injured heart in large animals and published this in the Physiologist in 1989.  In 1995 he led a team in Melbourne, Australia with Dr. Peter Field and Dr. Ken Thomson that completed the world’s first non-surgical repair of an aortic aneurysm. In 1997 he collaborated with Dr. Christoph Nienaber in Germany completed one of the two first series of repairing Type B aortic dissections without surgery which was published in 1999 in the New England Journal of Medicine. In that same year 1999 Leonhardt collaborated with Dr. Shinichi Kanno that published the first paper on bioelectric VEGF protein expression control for improving blood circulation and Leonhardt sponsored a patent application after the data was published in 1999 in Circulation the Journal of the American Heart Association.  In the early 2000’s he began filing a series of patents for both bioelectric and stem cell based biologics for organ regeneration with the first focus on the heart.  In early 2001 he led a team with Dr. Patrick Serruys, Dr. Warren Sherman, Dr. Doris Taylor, Dr. Pieter Smits and Dr. Kumar Ravi that completed the historic landmark first ever non-surgical cell based repair of a damaged human heart.  Leonhardt has filed, acquired, has had issued, licensed or optioned over 1000 patent claims about 600 of which have been assigned, licensed or optioned over to Cal-X Stars Business Accelerator, Inc. DBA Leonhardt’s Launchpads and/or its organ specific startups. Nearly all 40 of Cal-X Stars Business Accelerator, Inc. DBA Leonhardt’s Launchpads scientific advisory board members have worked with Leonhardt since the 1990’s.  
Most all of these innovations or startups have been run through the Leonhardt Ventures’ CalXelerator www.calxelerator.com 108 days create to great startup launch accelerator program https://calxelerator.com/how-it-works/ which develops their target market, initial product design concept and a beta web site followed often by executive summaries, slide decks, animations and in some cases forecasting and valuation modeling or a hybrid adaptation of this program.  This program also helps with initial patent filings and searches, trademark searches and filings and introductions to key advisors, mentors, test labs, research partners and suppliers.  Leonhardt Ventures LLC (Leonhardt Vineyards LLC DBA Leonhardt Ventures) for the most part with few exceptions had 100% ownership of these innovations, inventions and startups before agreeing to enter the accelerator and agrees to sign over patents and all rights to applicable organ specific or purpose specific startups within the accelerator in exchange for agreeing to give up to 49.9% ownership over time.  Most of the advisors, mentors, suppliers, research partners and investors for the accelerator emanate from Leonhardt Ventures LLC contacts. 
Cal-X Stars Business Accelerator, Inc. DBA Leonhardt’s Launchpads is granted an anti-dilutive 9% floor on dilution founding stake in each organ specific startup and holds pre-emptive rights to purchase up to 20% ownership in any startup at market prices right up to exit from the accelerator.  Cal-X Stars Business Accelerator, Inc. DBA Leonhardt’s Launchpads is one of innovation and startup launch accelerator arms of Leonhardt Ventures LLC.  Cal-X Stars Business Accelerator, Inc DBA Leonhardt’s Launchpads by design will always be controlled by Leonhardt Ventures LLC with a non-dilutive 50.1% ownership stake that cannot be broken under any circumstances.  As capital comes into the accelerator via its 2:1 investment program and is applied to accelerating the startups the accelerator Leonhardt’s Launchpads increases it stake via warrants that converted to shares in each startup by the amount coming into the accelerator.  If the accelerator raised $1 million in capital via its 2:1 program it earns a warrant worth $1 million that can be applied and converted to shares in any LTP stage startup or innovation upon demand or in the case of a more mature C corporation spin out startup upon a secondary approval by their board of directors.  Cal-X Stars Business Accelerator, Inc. DBA Leonhardt’s Launchpads may hold this warrant un-allocated and may allocate (convert to shares or share options) in portions or in full during any time point of a startups development within the accelerator.  The conversation is always at market price per share at the time they make their allocation so waiting for more data or more progress reduces risk before allocation of warrants but has the downside of increasing the per share conversion price. Leonhardt’s Launchpads reserves the right to make these warrant allocation conversions right up to one minute before a per share price increase may be implemented but once an outside investor invests at that price they cannot go back to an earlier price unless it was locked in in writing in advance or if there is re-pricing of that entire round or a down round and in those cases Leonhardt’s Launchpads is treated the same as all outside investors in every way.  Leonhardt Ventures LLC with its 50.1% ownership has the controlled vote unless waived on determining if and when Licensable Technology Platforms (LTPs) or startups are converted into a spin out C corporation then capable of raising capital on their own separate from the accelerator.  
 
Leonhardt Ventures LLC also holds a non-dilutive 50.1% ownership stake in all startups that it originated and placed in the Leonhardt’s Launchpads accelerator unless this is waived in writing.   Leonhardt Ventures LLC has the right with 50.1% majority control to set the authorized number of shares and increase them at any time with simple notice of majority shareholder consent.  They also have the full right to do stock splits or reverse splits upon majority shareholder consent decree.  Howard Leonhardt reserves the right to hold his shares in his personal name or Leonhardt Ventures LLC (Leonhardt Vineyards LLC DBA Leonhardt Ventures) his single person owned LLC at his sole discretion.  He also reserves the right to hold his shares as common stock or preferred shares at his choice which can be converted at any time by majority shareholder decree or simple request.  By charter if any shareholder should ever be granted preferred share terms and rights for a stake in Cal-X Stars Business Accelerator, Inc. DBA Leonhardt’s Launchpads then Leonhardt Ventures LLC will automatically receive exactly those same terms. His pre-held common stock shares will be converted to preferred shares with those same terms unless he opts out in writing.   
 
Howard J. Leonhardt and Leonhardt Ventures LLC agree to turn over complete and full organ or purpose specific ownership rights over to each organ specific Licensable Technology Platform (LTP) or startup for their specific organ or purpose in exchange for their non-dilutive 50.1% equity position. This applies to all past, present and future inventions for the whole time period the startup or Licensable Technology Platform (LTP) is in the accelerator.  After a startup or innovation exits the accelerator either through acquisition, license or spin out this patent sign over obligation ends. If the 50.1% non-dilutive equity position for Leonhardt Ventures LLC is waived then any patents for organ specific purposes have to be licensed from Leonhardt Ventures LLC at prevailing market rates for such licenses.  
 
The normal course for outside inventions, innovations or startups to enter the Leonhardt’s Launchpads accelerator is via being merged into an existing Leonhardt Ventures LLC founded and Leonhardt’s Launchpads under acceleration portfolio startup. This is usually done by acquiring the outside asset with payment in shares or share options in a specific LTP or startup.  Leonhardt’s Launchpads will consider taking in an outside non Leonhardt Ventures LLC founded startup but has not found any yet.  If ever an outside founded startup is expected but not guaranteed that is will be taken into the accelerator under the same terms given to Leonheart Ventures LLC founded startups or innovations = original founders of that startup and inventors of the technology will have a 50.1% non-dilutive stake and Cal-X Stars Business Accelerator, Inc. DBA Leonhardt’s Launchpads will be granted a 9% founding stake with a floor of 9% on dilution and a pre-emptive right to purchase up to 20% ownership at market prices right up to exit from the accelerator. That startup, just like Leonhardt Ventures LLC, will also agree to give up to 40.9% additional ownership in their startup to accelerator introduced angel investors separate from the Cal-X Stars Business Accelerator, Inc. DBA Leonhardt’s Launchpads 9% floor on dilution equity stake. 
Rules for Startups Entering the Leonhardt’s Launchpads by Cal-X Stars Business Accelerator, Inc. 
 
  • 9% founding equity stake with an anti-dilution floor @ 9% will be granted to Cal-X Stars Business Accelerator, Inc. DBA Leonhardt’s Launchpads 
  • Leonhardts’ Launchpads will have the pre-emptive right to purchase up to 20% equity stake in any startup or LTP in the accelerator at prevailing market prices right up to exit. 
  • Original founders of the startup will maintain a non-dilutive 50.1% majority control stake in startup unless this is waived. 
  • In the case of Leonhardt Ventures LLC founded startups they will maintain at all times a majority 50.1% majority control stake in all startups unless this is waived. 
  • Accelerator subsidiaries or branches such as Leonhardt’s Launchpads Utah, Inc. may earn equity in startups  by this formula = up to 3% for providing meaningful pioneering IP that originated at their site, up to 3% for providing meaningful positive supporting data usually capped at 1% for pre-clinical data and 2% for clinical data that entirely originated and was completed at this location, up to 3% for providing meaningful capital via investment, research grants, license payments, royalties, subsidies > $1 million.   Leonhardt Ventures LLC or Howard Leonhardt hold sole discretion on whether these thresholds for bonus share or share option awards have been met and at what level. 
  • Howard Leonhardt and Leonhardt Ventures LLC agrees to sign over ownership rights for any past, present or future (up to accelerator exit) patents to the accelerator and onto the organ specific startups in exchange for Leonhardt Ventures LLC 50.1% anti-dilution ownership rights. 
  • If 50.1% ownership rights in any startup or LTP should be waived by Leonhardt Ventures LLC or Howard Leonhardt and he loses absolute majority control then any Leonhardt patents must be licensed at normal average prevailing market rates and terms.  The no additional fee provision may remain in place if Leonhardt agrees to accept special voting rights instead of a patent license fee which then re-establish his non-majority shareholding voting position to resume back to be majority voting control such as 5 for 1 voting rights by example. 
  • If any organ specific startup or LTP in the accelerator should invent anything that can be use for another organ or purpose the other portfolio startups or LTPs automatically get full ownership rights to their specific organ with no additional fees or royalties.  This is in place the entire time the startup or LTP asset is within the accelerator but does not apply once they exit the accelerator.  
  • Exiting by our agreement is defined as (1) being acquired, (2) securing a major license agreement with a highly substantial payment received prior, (3) going public or (4) the accelerator board or shareholders decides the startup should leave the accelerator for any reason.  Converting to a C corporation alone is not considered an exit. 
  • All proceeds from any asset sale or major license payment are distributed to both LTP/startup stakeholders and accelerator stakeholders upon receipt. 
  • Sub accelerators within the portfolio of the parent Leonhardt’s Launchpads accelerator may be formed if an organ or purpose specific startup seems to have a lot of spin out technologies forming which would be ideal to form into new sub similar focused startups. In these cases Cal-X Stars Business Accelerator, Inc. DBA Leonhardt’s Launchpads should always have their 9% floor on dilution equity stake and their pre-emptive right to purchase up to 20% equity ownership at prevailing market prices right up to exit. 
Required Sale by Shareholders (Drag-Along Rights)
The Shareholders can be required by Leonhardt Ventures at its election to sell all or a portion of their shares of common stock to a third party if (i) Leonhardt Ventures (together with his affiliates) proposes to sell at least one-third of the total issued and outstanding shares of common stock of the Company to such third party, and (ii) a fairness opinion of an investment bank or valuation firm is obtained indicating the fairness of the proposed transaction to the Shareholders. Shareholders may be required to enter into an agreement to make such sale of their shares in accordance with the requirements of the Subscription Agreement. These drag-along rights provisions will terminate upon the consummation of an initial public offering of the Company’s common stock, if ever as such consummation is not guaranteed.
 
Optional Sale by Shareholders (Tag-Along Rights)
In the event that Leonhardt Ventures proposes to sell at least twenty percent or more of the Company’s outstanding shares of common stock to a third party, the Shareholders, in accordance with and pursuant to the terms of the Subscription Agreement, will have the option to sell a percentage of their shares to such third party, which percentage shall equal the then percentage of Leonhardt Venture’s shareholdings that he is proposing to sell in such transaction at the price and upon such terms that Leonhardt Ventures is proposing to sell his shares. These tagalong rights provisions will terminate upon the consummation of an initial public offering of the Company’s common stock, if ever as such consummation is not guaranteed.
Total Authorized Shares by Original By-Laws and Organization Minutes 2013 = 100,000,000 common stock shares and 150,000,000 preferred. Leonhardt Ventures LLC shares issued in common may be converted to preferred particularly if preferred shares are offered to any other investor. If the company decides not to issue preferred shares and to go beyond 100,000,000 common stock shares the by-laws will be amended to permit the additional common stock shares and diminish the available pool of preferred shares but the same amount to the total authorized available shares of 250,000,000 will remain un-changed without an increase. t is possible in the future an increase would be necessary but this is not the intention or expectation at this time.  Leonhardt Ventures LLC as a majority 50.1% owner may at any time by majority decree increase the number of authorized shares.
Startups generally start off with an ownership structure similar to the following:
  • 50.1% Leonhardt Ventures (Leonhardt Vineyards LLC DBA Leonhardt Ventures) or Howard J. Leonhardt – anti-dilution clause 
  • 9% Leonhardt’s Launchpads – anti-dilution floor at 9%, pre-emptive right to purchase up to 20%.
  • 39.9% Reserved for new shareholders, management, board, advisors, mentors, suppliers, research collaborators, vendors
If the startup originates from somewhere other than Leonhardt Ventures LLC the original founders will hold 50.1% ownership in a similar way to Leonhardt Ventures LLC listed above.  Our preferred mode to take outside founded startups into the accelerator is to merge them into one of our existing startups compensating them with shares or share options in that startup. 
Leonhardt’s Launchpads acquires more share ownership as capital flows into the accelerator and out to support the startups.  If Leonhardt’s Launchpads raises $1 million by example they then have a $1 million warrant they can convert at any time point of acceleration into shares in any LTP stage startup at market prices prevailing at the time of conversion.  They reserve the right to convert at a certain share price right up to one minute before a price increase is implemented.  
Leonhardt’s Launchpads has pre-emptive right to purchase up to 20% of a startup’s shares right up to exit at prevailing current per share market prices (whatever the last round of financing was completed at prior to the investment).
Other accelerators and units may earn shares or share options in startups by this formula:
  • Up to 3% for contributing meaningful IP.
  • Up to 3% for contributing meaningful funding = > $1 million
  • Up to 3% for providing meaningful positive data (generally 1% for pre-clinical and 2% for clinical).
Leonhardt’s Launchpads as these ownership positions in these subsidiaries or branch units:
  • Leonhardt’s Launchpads NorCal 100%  
  • Leonhardt’s Launchpads Utah, Inc. 50.1%
  • CalXelerator 20% 
New branches or subsidiaries may be formed in the future. 
Q: What is the advantage of applying my 2:1 warrant into startup shares immediately instead of waiting until Dec. 31st of the year I invest?
A:  If you allocate your warrant immediately into a startup’s shares the advantage is that you get that current lower strike price.  During the course of the year the per share price will be increased in increments as the startups achieves major development milestones.
Q: What is the advantage of waiting to apply my 2:1 warrant into startup shares until the last possible day December 31st of the year I invested?
A:  The advantage of waiting is you get sit back and watch and monitor the progress of each startup during the course of the year and can decide to allocate to startups that have reduced risk by gathering more data, gaining more talented team members or more protective patents or may be on the brink of securing a strategic partnership.   If your goal is to minimize risk not strike price and to only choose to allocate to those startups most close to securing a strategic partnership, then this waiting strategy may be right for you.
Q: How exactly do I get a return on my investment?
A:  In earliest launch stages the startups are all valued between $2.3 million and $5 million and the goal is to sell them after first-in-man results for $230 million to $980 million with a 3% royalty forward on net sales ideally.   We have a goal to have at least 6 startups in position to be ripe to secure a strategic partner/buyer each year over the next 5 years totaling 30 over 5 years.  Upon the close of each sale the proceeds are distributed immediately to all stakeholders.  Royalty checks will be distributed pro-rata on a quarterly basis as the royalties are received.  The target long term 5 year plus goal for ROI for accelerator shares is 23X your original investment and for individual startup shares 63X your original investment.  Of course these lofty goals will be very difficult to reach with many obstacles and risks in the way.
Q: What percentage ownership does Cal-X Stars Business Accelerator, Inc. DBA Leonhardt’s Launchpads have in each startup?
A:   Cal-X Stars starts off with 9% ownership in each startup in exchange for startup launch support services.  As money comes into the accelerator and is allocated into the startups their ownership stake increases.  Cal-X Stars has a pre-emptive right to acquire up to 20% ownership in each startup during the full course of acceleration within the accelerator.  Dilution from direct investors, advisor and direct management server to lessen the percentage of ownership.   It is expected at the time of exit Cal-X Stars on average will hold somewhere between 8% and 20% ownership of each startup but in some cases this could be lower and in some cases higher.
Q: Can you show an example of what I would get if you reach your goal to sell 12 startups two year with a 3% royalty forward on sales?
As a hypothetical example let’s say you invested $120,000 in Cal-X Stars Accelerator Inc. on 2:1 terms in early 2018 and immediately applied your warrant allocation as below in even increments of $10,000 each in our top 12 startups progressing towards strategic partnerships/buyers.

You would receive…

$120,000 shares of Cal-X Stars Business Accelerator, Inc. at $0.36585 a share = 328,004 shares

You would receive 2:1 $120,000 worth of startup shares as follows….

Top 6 startups in our accelerator ripe for finding a strategic buyer in 2018…
1. OrthodontiCell > $10,000 at $2 per share = 5,000 shares
2. VascuStim > $10,000 at $4.34 per share = 2,305 shares 
3. Second Heart Assist, Inc. >  $10,000 at $2 per share = 5,000 shares. 
4. Stem Cell Bra > $10,000 at $1 per share = 5,000 shares 
5. HairCell > $10,000 at $1 per share = 10,000 shares 
6. BioLeonhardt > $10,000 at $3 per share = 3,334 shares 
Top 6 startups in our accelerator ripe for finding a strategic partner/buyer in 2019..
1. CancerCell > $10,000 at $1 per share = 10,000 shares. 
2. CerebraCell > $10,000 at $4.35 per share = 2,299 shares 
3. MyoStim ED > $10,000 at $1 per share = 10,000 shares 
4. SkinStim > $10,000 at $1 per share = 10,000 shares 
5. PancreaCell > $10,000 at $1 per share = 10,000 shares 
6. PressureStim > $10,000 at $1 per share = 10,000 shares 
Let’s say in our hypothetical example that each startup sells for $78 a share coming close to the goal of 63X ROI for the entire group on average. 
You would receive…
For your Cal-X Stars Business Accelerator, Inc. 328,004 shares assuming Cal-X Stars owned 20% of each of the 12 startups at time of exit would be $940,000
Top 6 startups in our accelerator ripe for finding a strategic buyer in 2018…
1. OrthodontiCell > $10,000 at $2 per share = 5,000 shares x $78 = $390,000
2. VascuStim > $10,000 at $4.34 per share = 2,305 shares x $78 = $179,790
3. Second Heart Assist, Inc. >  $10,000 at $2 per share = 5,000 shares x $78 = $390,000
4. Stem Cell Bra > $10,000 at $1 per share = 5,000 shares x $78 = $390,000
5. HairCell > $10,000 at $1 per share = 10,000 shares x $78 = $780,000
6. BioLeonhardt > $10,000 at $3 per share = 3,334 shares  x $78 = $260,052
Top 6 startups in our accelerator ripe for finding a strategic partner/buyer in 2019..
1. CancerCell > $10,000 at $1 per share = 10,000 shares x $78 = $780,000
2. CerebraCell > $10,000 at $4.35 per share = 2,299 shares x $78 = $179,322
3. MyoStim ED > $10,000 at $1 per share = 10,000 shares x $78 = $780,000
4. SkinStim > $10,000 at $1 per share = 10,000 shares x $78 = $780,000
5. PancreaCell > $10,000 at $1 per share = 10,000 shares x $78 = $780,000
6. PressureStim > $10,000 at $1 per share = 10,000 shares x $78 = $780,000 
Assuming all these 12 startups together are achieving $1 billion in annual sales the 3% royalty to Cal-X Stars Annually would be $30 million.  With $15 million of that going to 164 shareholders about evenly divided = $91,464 in annual royalties per shareholder. 
So your total 24 month return on a $120,000 investment in this hypothetical example would be…
$7,592,092 and you would still have exit opportunity forward on at least 18 more startups.

Q: How much is the company raising, what does that give the investors and where does that capital take us?
A: We are raising $15 million through the accelerator which gives the buyers close to 49% ownership of the accelerator before advisor and management options are exercised and about 5 to 20% ownership of all 30 portfolio Licensable Technology Platform (LTPs) startups. Through May 1, 2020 we have raised about $2.2 million and thus have $12.8 million left to place. It is estimated that advisor, supplier and management option exercises will dilute accelerator ownership holdings by up to 30% and startup holdings by 10 to 15% over time if ALL eligible stock options are exercised. This amount of capital is hoped (may not be) to be sufficient to take us to exit or strategic partnership after first-in human results for up to 30 Licensable Technology Platform (LTPs) startups assuming investors will voluntarily re-invest some of their winnings of early exits into later exits. Our target reach goal (which will be very difficult if not close to impossible to achieve) is up to 5 exits/strategic partnerships a year starting in 2020 for the next 6 years to reach 30 exits after 6 years of acceleration. Sales to strategic acquirers/partners are expected, if they can be achieved at all, to usually be via milestone based Asset Purchase Agreements paying out milestone payments extending over many years. As Licensable Technology Platforms (LTPs) startups exit new ones will come forward to take their positions in the accelerator. At any given time we have about 5 to 10 startups/LTPs in ready reserve which we call the “on deck circle” using a baseball analogy of whom is ready to come to bat next at the plate.
Q: What is the basic development plan for the startups over the 5 year course of acceleration with the accelerator.
Year 1 = Build basic starter web site, build launch team, build slide deck, build related scientific articles list, build executive summary, build first test prototypes.
Year 2 = File patents, build advisory board, get lab data, raise capital, create animations video, upgrade web site, seek out research partners, secure vendors. 
Year 3 = Finalize design, completed animal studies, publish and present data, build opinion leader support, get positive press, start presenting at trade meetings. 
Year 4 = Prepare final safety data and regulatory filings to enter clinical studies. 
Year 5 = Complete first-in-man pilot studies OUS first 5 patients followed by U.S.A. 5 to 25 patients and then seek strategic buyer.
Q. What are the basic budget costs for each stage of development of the startups in the bootstrapping mode?
> Product development, web site development, building team = $300,000
> Patents, lab data, animation, trade shows, capital raising = $500,000
> Animal studies = $200,000 to $500,000
>.Prep for first clinical studies = $100,000 to $2,000,000 depending on product. 
> First-In-Man Clinical Studies = $100,000 to $1,500,000
 
Note – Vascustim has completed 70 pilot clinical cases OUS at under $50,000 cost due to collaborations and support from others and is now moving to clinical studies in the USA for diabetic foot ulcer treatment.  Vascustim published their first pre-clinical animal study in CIRCULATION for a cost of only $20,000.   Patent costs have been about $3000.  We also have costs shared across all 30 startups so the cost per startup is substantially lower as a result especially for common overhead items and common technology base development ie; stimulators.  So the above is over estimated for some and under estimated for others and averages out to about the above.   Warning:  Most traditional biotech and biomedical firms spend substantially more to get to these milestones and we indeed may have to spend more as well.
Q: What happens for Cal-X Stars Business Accelerator, Inc. DBA Leonhardt’s Launchpads shareholders when exits occur?
A:  Their pro-rata portion of that asset sale is distributed to them the day after closing.  Example > if OrthodontiCell sells for $780 million and Cal-X Stars Business Accelerator, Inc. DBA Leonhardt’s Launchpads shareholders hold 20% ownership at time of sale then the day after the closing $156 million would be distributed pro-rata to each shareholder according to their ownership position in the accelerator and if any of those Cal-X Stars Business Accelerator, Inc. DBA Leonhardt’s Launchpads stakeholders also had a stake, lets say 10% directly in OrthodontiCell as an example, they would also receive $78,000,000 more.  Each investor gets one distribution from the accelerator and another directly from the startup itself, if they have a direct stake in that startup separate from their accelerator ownership.
Q: What are management’s ROI goals for the accelerator and the startups?
A:  Our goal is to secure an exit for each startup in the accelerator before their 6th year anniversary in the accelerator.  ROI goals are clear…
23X for accelerator shares.
63X for individual startup shares. 
The above ROI goals factor in the intention for a 3% royalty on net sales for products over time that we will strive to always secure if possible.
Q: What are the biggest risks?
A:  These are early stage developments in high risk sectors.  The risks are numerous including…
 
1.  Not enough capital to bring products through first-in-man studies. 
2.  There may be unforeseen side effects to products.
3.  Lack of focus with so many startups under one umbrella. 
4.  Patents issued may not defend against competitors.  Patents pending may not be issued. 
5.  Company may not be able to meet all financial and other obligations to keep patent licenses or other contracts active. 
6.  Competition with greater resources may pass the companies up in progress. 
7.  Our startups depend on outside vendors for manufacturing and nearly all services and these relationships may not deliver the results intended or may breakdown for a variety of reasons.
Q: What exactly does the core bioelectric technology patents do and why is it important?
A:  Precise bioelectric signals and sequences communicate with the DNA and membranes of cells to control specific protein expressions for specific purposes.   Some examples are listed below….
 
1.  SDF-1 = stem cell homing.
2.  VEGF, SDF1, PDGF, HIF1a, HGF, Tropoelastin and PDGF = growing a new network of mature large inner diameter blood vessels for improving circulation. 
3.  Follistatin = growing new contractile muscle in previous scar tissue. 
4.  Tropoelastin = improving elasticity of arteries, skin, heart, ligaments, tendons, aorta and more. 
5.  IGF-1 = DNA repair. 
6.  CXCL5 = plaque prevention in arteries and on heart valves and cancer prevention.
Q: How are patent licenses handled amongst accelerator startup portfolio companies?
A:  If a startup is accepted into the accelerator they automatically get exclusive rights to any patents held by the accelerator for the organ they serve ie; eye for EyeCell, liver for LiverCell.  If any startup that has not yet graduated from the accelerator makes a new discovery that converts into a new patent the other organ specific startups within the accelerator automatically get an exclusive license to their organ.  There are rare exceptions to this rule.  Howard Leonhardt and other Leonhardt;s Launchpads associated inventors have agreed to give startups within the accelerator exclusive rights organ by organ to their patents in exchange only for their equity stake in those companies with no further fees or royalties due other than those associated with every shareholder.
Q: Does Cal-X Stars Business Accelerator, Inc. DBA Leonhardt’s Launchpads have any debt?
A:  Howard J. Leonhardt forgave $2.7 million debt owed to him by U.S. Stem Cell, Inc. to get certain patent rights to key patents licensed free of charge onto startups within the accelerator.  He also invested over $8 million of his own money to get the core technologies developed and off the ground. The Board of Directors of Cal-X Stars Business Accelerator, Inc,. agreed in 2014 in light of the above to record on the books $2 million owed to Howard Leonhardt at a 13% annual interest rate that is un-secured.  The company will only pay this debt when cash reserves permit.  Leonhardt has no collateral interest to protect the repayment of this loan.  In 2014, 2015, 2016 the average interest and principal paid down on these loans annually was about $14,000.  In 2017 this increased to about $60,000.   There is another debt owed to Bruce Methven our securities attorney of about $38,000 and certain management team officers have recorded deferred salary on our books.
Q: How can I get a copy of the company financials for the most recent closed year?
A:  Write to Brittany Brown our CPA and interim CFO at bbrown@ledgergurus.com copied to leonhardt@ledgergurus.com
Q: How much capital did the company raise for its startups in 2017?
A;  $1. 6 million.
Q: Approximately how much did our micro bioelectric stimulator partner invest in the development of the implantable device?
A:  $50 million.
Q: Approximately how much in National Science Foundation Small Business Innovation Research Grant support did our micro infusion pump technology partner Fluid Synchrony LLC receive to help develop the pump for our combination device?
A:  $2.3 million
Q: How do innovations or startups come into Leonhardt's Launchpads accelerator?
Leonhardt Ventures LLC (Leonhardt Vineyards LLC DBA Leonhardt Ventures) screens approximately 1000 startup opportunities annually in the areas of organ regeneration/recovery and social good impact.  The criteria for organ regeneration opportunity screening includes whether the innovation can leverage existing Leonhardt IP https://patents.justia.com/inventor/howard-j-leonhardt
Leonhardt’s Launchpads was formed by Howard J. Leonhardt with the primary purpose to convert his organ regeneration patented or patent pending inventions into full fledged startups, and accelerate those selected innovations/startups thought first in human studies, at which time a strategic partnership will be sought to take the innovation the rest of the way to market. 
Note – Inventor Howard J. Leonhardt  – https://patents.justia.com/inventor/howard-j-leonhardt–  is the originator of most, if not all, the IP fueling most of the startups and has the choice at any time to have his ownership certificates held in his personal name Howard J. Leonhardt or his 100% owned single person LLC Leonhardt Vineyards LLC DBA Leonhardt Ventures. 
They choose the best of the best, about 2 to 6 of them annually, to enter the CalXelerator www.calxelerator.com 108 day “create to great” program. The best of the best of these few candidates may be invited to join one or our long term innovation and startup launch accelerators.  They will be invited to join Leonhardt’s Launchpads by Cal-X Stars Business Accelerator, Inc. if they are organ regeneration and recovery focused and Cal-Impact if they are social good impact focused.  Once they join a long term accelerator they are under initial evaluation for the about the first 180 days to 1 year to determine if they are a full fit for long term acceleration. Organ regeneration startups are accelerated through first in human studies and then seek out a strategic partnership to advance development.  Social good impact innovation and startups are accelerated up through full launch and then seek out a strategic partnership.  
In most all cases Leonhardt Ventures LLC (Howard J. Leonhardt) owns 100% of the IP and all rights to commercialization of the innovation and corresponding startup before entering the Leonhardt’s Launchpads accelerator.  When Leonhardt Ventures LLC (Howard J. Leonhardt) agrees to place the innovation/startup into the accelerator they agree to give up to 49.9% ownership to others over time as new investors or service providers provide cash or sweat equity investments.  9% un-dilutable (unless waived) ownership is immediately granted to Leonhardt’s Launchpads in exchange for mentoring.   Leonhardt’s Launchpads has the pre-emptive right to purchase up to 20% ownership in any startup right up to exit purchasing shares at market prices.  As capital comes into Leonhardt’s Launchpads via the 2:1 warrant investment plan and is re-directed into startups their ownership position in each grows.  
Outside startups, innovations or IP may be invited to join either of our accelerators if they are a good fit they will be invited to merge into one of our existing startups is a match. 
Subsidiary accelerator units such as Leonhardt’s Launchpads Utah, Inc., Leonhardt’s Launchpads Santa Rosa, Minneapolis, Pittsburgh, Australia or Brazil may earn equity stakes in LTPs or startup C corporations by this formula…
1.  Up to 3% for providing meaningful IP.
2.  Up to 3% for providing meaningful positive support data (generally 1% for pre-clinical and 2% for clinical). 
3.  Up to 3% for providing meaningful capital or research grants (generally 1% for research grants and 2% for > $1,000,000 in local capital raised). 
Q:  How does the Licensable Technology Platform (LTPs) model work?
All new innovations that enter our innovation and startup launch accelerator are classified into a Licensable Technology Platform (LTP) to start.  An LTP is a basket of assets directed towards a specific purpose ie; LiverCell LTP focuses on liver regeneration, RegenaLung LTP focuses on lung regeneration, KidneyCell LTP on kidney regeneration. The basket of assets includes IP, regulatory progress, test data, technical know how, web site, executive summaries, animations, slide decks, trademarks, advisory board, vendor and research collaboration agreements. Most of the initial value is in the IP including any licenses, options or patents issued or pending.  The LTP is handled in every way as a security, just like a stock, and is able to place interest stakes with founding members, advisors, consultants, research partners and suppliers.  What LTP stakeholders own is a percent ownership of the assets.  If market feedback/research, data, positive press, opinion leader endorsements and patent prosecution all point towards the innovation to have likelihood of success in the marketplace steps begin to transition the LTP into a C corporation.  In general, but not always, LTPs do not transition to become stand alone C corporations until they meet these conditions. 
1.  Enough data, preferably clinical, has been gathered to truly know that the innovation does indeed work. 
2.  Patents have been issued, licensed or optioned or are will into USPTO prosecution as a pending patent with sufficient believability that the innovation can be protected against infringers and will provide defendable intellectual property protection. 
3.  A critical mass of opinion leader endorsements have been gained
4.  Sufficient buzz has been creating in the marketplace with positive press. 
5.  The startup has gained enough financial backing to the at least 95% financially self reliant with its own President and CFO and has reasonable prospects lined up for additional funding if needed. 
6.  The startup has generated significantly strategic partnership or acquirer interest.  
In most cases Leonhardt Ventures LLC (Howard J. Leonhardt) has 50.1% anti-dilutive (unless waived) controlling interest in the LTP (down from 100% before entering the accelerator).  Leonhardt’s Launchpads by Cal-X Stars Business Accelerator, Inc. starts off having 9% anti-dilutive (unless waived) ownership interest in the LTP in exchange for mentoring services.  As capital comes into the accelerator and flows into the LTPs Leonhardt’s Launchpads equity interest increases.   Leonhardt’s Launchpads has pre-emptive right to purchase up to 20% ownership equity interest in any startup, LTP or C corporation, right up to exit at prevailing full market prices of interest stakes. 
Thus far both Leonhardt Ventures LLC (Howard J. Leonhardt/Leonhardt Vineyards LLC DBA Leonhardt Ventures) and Leonhardt’s Launchpads has only waived it anti-dilution floors of 50.1% and 9% respectively with two startups, OrthodontiCell LTP and Second Heart Assist, Inc. a Utah C Corporation. 
When an Licensable Technology Platform asset basket security is converted (usually right after first in human full study results are in for a an organ regeneration startup – near to final product to go to market) to a full fledged C corporation any stakeholder in the LTP is guaranteed to have the exact same initial ownership percentage in the C corporation.  By example if John Doe held 1% ownership interest in the LTP he will hold 1% ownership interest in the C corporation in the form of common stock. 
LTPs do not ever have any employees.  They only have formation stage co-founders, advisors and startup launch organizers.  They may be assisted by mentors and employees of the accelerator(s) at various stages of development.  LTPs never ever pay cash out, especially to employees or team members, and in fact do not even have a checking account.  They may have people in designated roles for organizational and efficiency purposes but these are not officers or employees in any form.  The employment of employees and the designation of corporate officers does not begin until the day a C corporation is legally formed and that C corporation opens up its own bank checking account. 
There are many sounds business reasons for keeping an early stage development as an LTP instead of a C corporation. These include…
1.  As soon as you file a C corporation you need to file a stand alone tax return which costs at minimum $1600 annually.
2.  As soon as you file a C corporation you have to pay separate city, county, state annual fees which are > $1000 annually.
3.  As soon as you file a C corporation and you are raising capital you have to make separate Form D and blue sky filings which can cost > $50,000.
4.  A separate C corporation needs to have its own officers, directors, board meetings all of which requires maintenance costs > $10,000 annually. 
5.  If an LTP after early stage evaluation is deemed not to be commercially viable it can be cut from the accelerator quickly and easily and replaced with another LTP with minimal difficulty and costs. 
6.  A separate C corporation has to have its own bank account which has to be reconciled monthly.
7.  A separate C corporation needs to have its own stand alone monthly financial statements which cost up to $1000 per month to be prepared properly. 
Q:  What is the normal time course for innovations and startups in the accelerator? 
Year 1 1H = CalXelerator www.calxelerator.com 108 day “create to great” program = market research + build web site + build test prototypes + build animation video + build slide deck + build executive summary + build advisory board + file new patents + license and option patents > at end of 108 days DEMO DAY to attempt to get first seed funding via 2:1 investments into the accelerator with investor choosing to exercise their 2:1 warrant with that particular startup. 
Year 1 2H = Test prototypes in lab + find pre-clinical research collaborators + file for research grants + get Series A funding.
Year 2 = Test prototypes in small animals + get Series B funding. 
Year 3 = Test prototypes in large animals + file new patents + gets Series C funding. 
Year 4 1H = Prepare for regulatory filings to begin first in human studies + get Series D funding. 
Year 4 2H = Complete first in human pilot study + get opinion leader endorsements + get positive press + reach out to strategic partners + get Series E financing. 
Year 5 to 7  = Land strategic partnership most often in milestone deal over time that leads to full acquisition later and preferably future royalties. 
Normal budgets by stage of development….
  • Launch = $100,000
  • Lab tests = $100,000
  • Small animal tests = $150,000
  • Large animal tests = $250,000
  • First in Human studies = $200,000 to $500,000
Note – These costs are sometimes higher and sometimes are lower by large margins. MyoStim ED, EyeCell, HairCell and OrthodontiCell by example ALL got all the way through first in human studies with less than $230,000 each in total spending from beginning to end and are now pursuing a strategic partnership/acquirer.     They accomplished this working with strategic partners such as Mettler Electronics of Anaheim, CA that already had FDA 510K market clearance for their device for improving blood circulation, which greatly reduced investment costs and time to clinical studies. Second Heart Assist on the other extreme has spent > $4,000,000 to get through first in human studies. 
Warning: Investment in our innovation and startup accelerator must be viewed as very high risk for loss. We are attempting to develop organ regeneration technologies where others with far more substantial resources have failed. Our developments are all very early stage. Despite some early data our technologies cannot be considered to be proven to be either safe or effective. Our patents issued, optioned or licensed may not be maintained. Our patents pending may not be issued. We may be found to infringe on others patents. We are developing more than 30 innovations which spreads our small staff thin. We are highly dependent on outside supplier and consultants. Any timelines quoted may take substantially longer by many years. Most, if not all, our team members derive income from other sources which may limit their focus on our accelerator and its startups. The company lacks sufficient resources at this time in all forms to complete development of its products. This investment is only suitable to accredited highly experienced investors with substantial knowledge of the healthcare industry and the risk associated with medical device and biotech startups and their product developments that are prepared to lose their entire investment without incurring financial hardship. Information about the status of our many projects is subject to change often. With a small staff we are not able to keep all web site pages up to date at all times. Much of the information on many of our thousands of web site pages requires updating. If you have any questions please email us at howard@leonhardtventures.com

Any financial projections given are illustrative only and none of the projections or assumptions should be taken as promises on the part of the Company nor should they be taken as implying any indication, assurance or guarantee that those assumptions are correct or exhaustive.
These pitches contain forward-looking statements. These statements relate to, amongst other things, the Company’s future prospects, developments and business strategies. Forward-looking statements are identified by their use of terms and phrases such as “believe”, “could”, “envisage”, “estimate”, “intend”, “may”, “plan”, “will” or the negative of those, variations or comparable expressions, including references to assumptions.

The forward-looking statements in this Pitch are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by those statements. If one or more of these risks or uncertainties materialises , or if underlying assumptions prove incorrect, the Company’s actual results may vary materially from those expected, estimated or projected. Given these risks and uncertainties, potential investors should not place any reliance on forward looking statements. These forward-looking statements are made only as at the date of the Pitch.

Each recipient of these Pitches must make their own independent assessment of the information provided by the Company and is recommended to seek independent advice on the contents hereof from an authorized person specializing in advising on investments of the kind in question. Neither the Company, Leonhardt’s Launchpads, nor any of their advisers, nor their respective directors, partners, representatives, agents, consultants or employees shall be liable for any direct, indirect or consequential loss or damage suffered by any person relying on statements or omissions from the Pitch and to the maximum extent permitted by law, all conditions, warranties and other terms which might be implied by statute, common law or the law of equity and any such liability are expressly excluded. The Pitch should not be construed as a recommendation to prospective investors by the Company or Leonhardt’s Launchpads, Cal-X Stars Business Accelerator, Inc., or any of their respective officers to invest in the Company, and does not form any commitment by the Company to proceed with an investment. The Company and Leonhardt’s Launchpads, Leonhardt Ventures or Cal-X Stars Business Accelerator, Inc. reserve the right to terminate the procedure at any time and to terminate any discussions and negotiations with any prospective investors at any time and without giving any reason.

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The individual startups accept highlighted in this listing of elevator pitches accept responsibility for the information contained in each Pitch. The Pitches are meant to only reflect the most positive and optimistic personal opinion of the company founders and nothing more or less. To the best of the knowledge and belief of the Company (who has taken all reasonable care to ensure that such is the case) the information contained in this Pitch is in accordance with the facts and there are by the extreme brief nature of the few line elevator pitches there are indeed facts the omission of which would affect the validity of such information. This information may be obtained elsewhere such as our private placement memorandum, our annual report or the risk and warnings disclaimers proceeding and following the elevator pitches on this page or on the individual startup web sites . These risks include in brief – patents cited may not protect us, patent license agreements may not hold up, patents pending may not be issued, company lacks resources to complete research, early data is not enough to determine definitively if technology works, all agreements are subject to conditions being met and due to lack of financial resources the likelihood and risk of not meeting such conditions is high, many agreements may not be properly ratified or signed, company is underfunded and understaffed and personnel aboard have diverted attention with other jobs and many projects.

The information contained in the Updates section and the Q&A section and any downloaded documents do not form part of the Pitch and have not been reviewed or approved by Leonhardt’s Launchpads Board of Directors or Legal Counsel. Similarly, any information published outside of the Leonhardt’s Launchpads web sites , including on social media platforms (e.g. Facebook, Twitter) or the Company’s news blog, does not form part of the Pitches. Leonhardt’s Launchpads, Leonhardt Ventures and Cal-X Stars Business Accelerator, Inc., Second Heart Assist, Inc., assumes no responsibility for information contained in the Q&A or Updates section, downloads or in any form of media outside the Leonhardt’s Launchpads accelerator and such information should not be deemed an offer or invitation to invest or be relied on to invest.