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Precision Apex* Product Launch

MBA Consultants:

Brette Petersen, Cami Swan, Kayla Goldberg, Olivia Kamisher, Peter Smith

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Precision Product Launch

Introducing Our Team

We are consultants from the University of Utah MBA Program, working with Precision

Brette Petersen

Product Marketing

Camille Swan

Product Marketing

Kayla Goldberg

Sustainability Programming

Olivia Kamisher

Marketing Research

Peter Smith

Product Management

Introductions

2

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Precision Product Launch

Agenda

Product Recap

Recommendation Overview

Marketplace Perceptions

Competitive Analysis

Positioning & Value Proposition

Go to Market Strategy

Project Review

Next Steps

Agenda

3

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Feeling of financial security

Complete needed purchase

Greater Precision loyalty

Outcomes

Lack of purchase freedom�No cash from Precision

[Some customers don’t qualify]

Customer Pain Points

[Apex provides fast cash]

[Apex provides flexibility]

[Cash is convenient]

Resolutions

2

3

1

What is Precision Apex?

Target Customer: Existing Precision customers [who meet qualifications], [at the end of Precision product lifecycle]

Precision Product Launch

The Product

Product Recap

4

Peter

So let’s start by refreshing everyone as to why there is a need for this product.

To do this, we first need to understand our target customer is someone who is already a Precision customer and is in good standing with their payments. These customers have many pain points, all of which essentially fall under the categories of lack of purchase freedom, and the drag of having to go through another application process just to get cash with a company that they may not think is as safe as Precision.

So the solution Precision has proposed is a [redacted]. Through this, customers are also given an extension on their payments to give them even more flexibility. This is all in hopes of helping the customer build a better credit history and allowing them to have the cash they need to make their lives better.

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Recommendation Overview

Our team was tasked with building a go-to-market strategy for the Precision Apex product that would meet short term adoption goals and generate long term competitive advantage.

5

Competitive Analysis

Positioning & Value Proposition

Go to Market Strategy & Tactics

Deliverables

2 Customer Segments

Short Term - Achieve take rate

Long term - Increase customer base

Recommendations

5

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Precision Product Launch

Perceptions in

the Marketplace

6

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Marketplace Perceptions

Crowdsourcing

Payday Loan

Borrowing from Family / Friends

Refinancing

Personal Loans

Pawning

Credit

1 - Difficult

5 - Easy

5 - Safe

1 - Risky

Perceptual Map

7

Takeaway: Consumers group substitutes and indirect competition in the middle: neither easy nor safe

7

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Dunder Mifflin

44%

Stark Industry

32%

Initech

14%

Precision

9%

Monster’s Inc.

2%

Bob’s Burgers

1%

Paddy’s Pub

1%

Precision has low brand awareness compared to direct competitors. Logo is more recognizable than brand name.

Brand Awareness

Takeaway: Precision brand recognition is low in general market; Initech is a direct competitor at 14%

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Marketplace Perceptions

While customers would rather use other methods than a payday loan to fund an emergency, they have applied for loans in the past

Emergency Expenses

Credit Card

Out of Pocket

Friends & Family

Personal or Payday Loan

42%

38%

12%

3%

How would you pay for an emergency expense?

21%

89%

Have applied for a payday loan in the past

Up to 89% are extremely unlikely to apply for a payday loan in the future

Takeaway: No one wants to take out a personal or payday loan, but it’s a last resort that some have to turn to

9

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Respondents with fair or lower credit are concerned about money, but are confused and scared about [product category]

Refinance Perceptions

Takeaway: Low financial literacy leads to confusion and negative perceptions around [product category]

62%

of consumers did not know they could [use product category]

Monthly

how often respondents say they worry about paying for what they need

trouble

interest rate

hassle

paperwork

mortgage

delinquency

10

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Marketplace Perceptions

Takeaway: Precision is not heavily recommended by local merchants and most customers self-educate

“ We’ve had a lot better feedback with Dunder Mifflin. I mean, Precision is really good people - Precision has been around for a long time - people like Precision. But you know, saving money is a big thing. If you can save $100 over a year, people like to save $100. ”

11

Cami

I wanted to get some perspective from Precision’s customers through the eyes of their merchant partners. I interviewed five businesses from a variety of industries.

I found that many merchants interviewed partnered with several financing companies. Unfortunately, Precision was often the least favorable option among the salespeople I interviewed. Why?

The biggest reason merchants preferred to sign the customer with other financing options before Precision was because they all felt that the interest rates after 100 days were too high and felt obligated to warn the customer--if they chose to share Precision with the customer at all.

However, another interesting trend was that nearly all of the customers who used financing services walked into the store already educated on the services and filled out the application. This insight was critical to our go to market strategy as we discovered self-education is the first step in the customer journey.

*Company names have been changed.

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Precision Product Launch

Competitive

Analysis

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Competitive Analysis

Takeaway: Large number of customer alternatives represent a large competitive threat

Competition includes any product that might provide target customer with emergency funding

We grouped competition into three categories

Low direct competition, but high competitive threat in other areas

Competition

Same market, different product

[Indirect redacted]

Indirect Competition

Same market, same product

Dunder Mifflin

Stark Industry

Initech

Paddy’s Pub

Bob’s Burgers

Direct Competition

Different market, different product

[substitute redacted]

Substitutes & Replacements

13

Kayla

Competitive Analysis

The [market space] is saturated with highly competitive players.
Precision faces competition from companies that are larger, more established, and more well-known.
Some key competitors: Dunder Mifflin, Stark Industry, Initech, Paddy’s Pub, and Bob’s Burgers.

These companies offer similar [products] at retailers nationwide in the same verticals as Precision. Like Precision, they offer customers the [same options for services and similar product life cycles].
Each of the four main competitors offer [services for the same target] consumers.

In terms of the new Precision Apex product, there are limited direct substitutes to that specific product but many established indirect substitutes available in the market.
These indirect substitutes don’t look like the new Apex product, but they offer a very similar value proposition and target the same customer demographics.
Top competing indirect categories include; [Competitor indirect categories have been redacted]
Substitutes for the new Precision Apex product include [Competitor substitute categories have been redacted]

*Company names have been changed.

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Multiple Product Options

Ease of [adoption]

Education and Resources for Customers

Lower [prices]

Marketing: SEO, Paid Search, Social, Blogs

Strengths

Weaknesses

Excessive Fees

Exorbitant [service fees]

Restricted Use of [product offering]

Limited Availability in Some States

Takeaway: Focusing on the strengths of our competitors, we clearly identify areas where Precision can improve

Kayla

Strengths and Weaknesses

To better understand the market, and where Precision may be able to position its new Apex product, we analyzed the existing competition in terms of strengths and weaknesses for the customer. In our paper you can read a more in-depth analysis of the categories listed on the previous page.

Highlights of some of the key strengths we identified in both indirect competition and substitutes:

First, companies offer many different product options to the customer to meet their specific needs.
Second, competition is focusing in on keywords around "easy, convenient, and simple" for the application and approval process.
Next, competition provides access to education and resources for customers, such as videos, blogs, and even access to job agencies.
Of course, it has to be noted that lower rates are a key strength of other products.
Finally, we noticed an impressive dedication to marketing in this space - with heightened focus on SEO, paid search, and meeting consumers through social and blogs.

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Competitive Analysis

Top Competitors

Products: [products redacted]

[benefit redacted]

Differentiation: Good brand recognition, [differentiation redacted], [differentiation redacted]

Products: [substitute redacted]

[benefit redacted]

Differentiation: [frequently used with ease], good information on websites, lower [pricing structure], [differentiation redacted], [differentiation redacted]

Products: [products redacted]

[benefit redacted]

Has dedicated website for each product/brand

Differentiation: Good information on websites, very visible through PCP and blog partnerships

15

Brette

To give you a sense of the other potential options Precision customers may turn to, we’ll quickly go over the top competitors in each category in this new marketplace.

The most direct competitor for this new product is Initech. This company offers both [services that Precision also offers]. As previously stated in our survey results Initech had higher brand recognition than Precision. They also have the added benefit of [redacted].

Within the many companies that comprise indirect competition, Fintech [products] are a good example of the breadth and depth of available options. Fintech [benefit redacted], [benefit redacted] and transparently publicizes their [price structure] (a benefit for consumers). What stood out to us was the ease of accessibility, educational information, and strong blog partnerships Fintech has cultivated as a marketing tool.

Finally, when customers are looking for an alternative to [service offering], they may seek out a [substitute] specifically for [the target customer characteristic]. Sub-Tech is one of the highest recommended [substitutes] of that type, due to it’s unusually [acceptance rate] and moderate [prices]. Of course, the benefits of a [substitute] revolve around the flexibility of being able to use it [frequently with ease].

*Competitor company names have been changed.

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Competitive Analysis

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Takeaway: Education of both customers and merchants will be an important tool in driving adoption

Precision Product Launch

Educating Customers

Education will be crucial for this new product.

Saturated Market

Unique Product with Few Rivals

Poor Financial Literacy

Negative Stereotype for “[product category]”

Brette

We know from our survey results that our target demographic has a low opinion and understanding of [product category]. After examining several indirect competitors in the market we noted that some do an excellent job of educating their customer by providing extensive information on their websites. Implementing a better self-education program could be extremely beneficial to Apex, as the merchants we talked to confirmed that many customers are self-educating before seeking out a leasing contract.

Because very very few other products like Precision Apex exist in the market, creating awareness and understanding around the product will be crucial. Customers will gravitate toward solutions they understand and convincing them to try Apex may be a challenge. Education could have the added benefit of also make significant progress in swaying customer opinion from negative views around [product category]. We will discuss how education fits into our GTM strategy later in the presentation.

From talking to merchants, we learned that [redacted]. And based on competitors in the market, we know that several do an excellent job of educating their customer by providing extensive information on their websites. To give you some idea of the length and depth of information, here are some screenshots [*screenshots have been changed]. Having this information readily available, or even going further to actively push it to the customer, will help the customer understand and see the benefit in a [redacted] product.

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Precision Product Launch

Positioning and

Value Proposition

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Precision Apex product’s advantage is achieved through accessibility to their target customer: Precision’s existing customers.

Positioning and Value Propositions

Target Customers

Overdue Bills

Car Repair

Medical Expenses

Veterinary Services

31%

30%

18%

9%

Home Goods

Travel

3%

2%

Large Life Events

2%

To get a better understanding of the needs of the general market and those who might consider a [similar product], we asked them what they would spend the hypothetical funds on. They responded…

Takeaway: How well can we know the Precision Apex customer? Our research provides insight.

18

Brette

Now that we’ve analyzed general market perceptions and taken a deep dive into possible competitive products and companies, we feel comfortable honing in on our specific target market.

One thing we gleaned from our general market research was an understanding of what a customer who received a payday loan, might spend their money on. The top two most selected responses were essentially tied between overdue bills a long term expense at 31%, and car repairs an immediate or emergency expense at 30%. “Luxury items” such as travel and home goods predictably came in with very low response rates.

With this insight, we thought about how it could apply to our unique Precision Apex customer. Obviously, we know that our consumer will consist of Precision’s existing customer base, and we believe this gives Precision an incredible advantage. With a highly saturated market, easy access to customers allows for much higher conversion that Precision can take full advantage of.

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Positioning and Value Propositions

Crowdsourcing

Payday Loan

Borrowing from Family / Friends

Refinancing

Personal Loans

Pawning

Credit

1 - Difficult

5 - Easy

5 - Safe

1 - Risky

Perceptual Map

19

Takeaway: There is a clear market gap in the safe and easy category. We believe this product can fill one axis

Precision Apex

19

Brette

Olivia had previously mentioned, based on our survey findings, our respondents grouped most of the Precision Apex alternative products centrally on our perception axis. The bright blue highlighted section represents the best of both options, safe and easy, which is clearly a market gap. We understand that it’s difficult to position a financial product to be both risk free and easily accessible for Precision’s target customer. However, by choosing one end of the spectrum, we think Precision can differentiate itself effectively.

For Precision’s existing customers who may be offered this [redacted] product, we recommend making it as easy to accept as possible. It needs to be easier than [product alternatives]. In regards to safety, while a [redacted] product will never be as safe as borrowing from friends or family - due to the existing relationship between Precision and its customers, we believe it should feel equally or less risky than [product alternatives].

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Takeaway: The Emergency customer segment focuses on the benefits of speed and ease

The “Emergency Customer”

Value Proposition

“For existing Precision customers with limited financing options, who need immediate extra money for emergency bills, Precision Apex provides [benefit redacted] and acts as a fast alternative to [competitor redacted]. Customers receive the money they need with a single click.”

21% [used similar product] when they needed it

Language should focus on “fast” and “easy”

Benefits

Will be competing with [competitor redacted]

Competition

[Similar Product]

Brette

Knowing how our consumer thinks, what they’ll spend their funding on, and where we want to position our product - we began to hypothesize that Precision Apex could appeal to two potential customer segments.

The first of which, we’ve called the emergency customer. The emergency customer is the customer who may need extra emergency funds for a car repair, and while not wanting or previously anticipating needing a [substitute product], [redacted]. For this customer, the key benefits of a Precision Apex product will be how quick and easy it is to access the cash they need. If the customer can accept the [product] and receive their funding faster than a [substitute product], this will be a huge benefit for them.

For this customer, our value proposition focuses on transactional benefits - pointing out that his customer may have limited options, and suggesting Precision Apex is a quick alternative to [substitute product], while emphasizing ease of use.

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The “Long Term Debt Customer”

Value Proposition

31% of consumers will use money to pay overdue bills

Overdue Bills

Language should focus on “trust” and [benefit redacted]

Benefits

Will be competing with [competitor redacted]

Competition

Takeaway: The Long Term Debt customer will accept Precision Apex when they’re ready - no rush!

Positioning and Value Propositions

21

“For Precision customers who may have income constraints and long term overdue expenses, Precision Apex is a trusted solution for giving them the flexibility they need to manage their finances. Precision Apex is an alternative to [competitor redacted] that [benefit redacted] and customers receive funds when they’re ready.”

Brette

The second customer segment we’re conceptualizing is the long term debt customer. This customer is one that might spend their [cash] on overdue bills, and is less concerned about how quickly they can get access to funding and more interested in the total [cash] amount and perceived safety of the funding itself. The main competitive product for this customer would be to [pay] any overdue expenses [with a product substitute]. We found in our survey that [product substitute] are the most likely form of payment for an emergency expense for those with a good or lower credit rating. Any additional benefits, such as the ability to [benefit redacted], would be an added advantage for this customer.

Consequently, the value proposition we created for this customer focuses on providing flexibility and positioning the Precision Apex product as a safe, trusted source of extra income. We expect the messaging created for this customer to continuing building on the good relationship and positive brand perception the customer already has for Precision.

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Precision Product Launch

Go to Market

Strategy

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Go to Market Strategy

Total Number of Offered and Accepted [Precision Apex product] (Volume)
Take Rate	Total Customers Eligible
		57,000	67,000	77,000	87,000	97,000	107,000
	10%	[redacted]	[redacted]	[redacted]	[redacted]	[redacted]	[redacted]
	15%	[redacted]	[redacted]	[redacted]	[redacted]	[redacted]	[redacted]
	20%	[redacted]	[redacted]	[redacted]	[redacted]	[redacted]	[redacted]
	25%	[redacted]	[redacted]	[redacted]	[redacted]	[redacted]	[redacted]
	30%	[redacted]	[redacted]	[redacted]	[redacted]	[redacted]	[redacted]
	35%	[redacted]	[redacted]	[redacted]	[redacted]	[redacted]	[redacted]
	40%	[redacted]	[redacted]	[redacted]	[redacted]	[redacted]	[redacted]
	45%	[redacted]	[redacted]	[redacted]	[redacted]	[redacted]	[redacted]

Loan Market Value: Sensitivity Analysis

$ [redacted]

This new product has the potential to provide adaptability to a changing market and increase customer retention and satisfaction

Loan Origination Volume

Takeaway: Precision Apex represents a $XXM market value from initial data estimates

23

Kayla

Speaking Notes:

In our opinion there are many reasons why this product can bring value to Precision
In our final paper you can read about some factors that make this product particularly interesting and valuable�Some of those reasons include
Changing market
Customer retention
Customer satisfaction, relationship-building, and trust

Focus on 2 key things here:

Loan origination volume and value and Confidence in the profitability of the target market �- Here on this slide is a sensitivity analysis of total loan origination volume, # eligible customers x, take rate percentage on Y - these are the two main factors that will influence total loan origination volume�Using data from Precision, our original estimate in 1 year is a total of xx loans originated�- using estimates for loan terms, that results in a market value of xx million for the product, �- Clearly the data in this table is sensitive to the 2 factors.. We wanted to get started with some initial estimates and sensitivity analyses but to continue to provide robustness to these analyses we recommend leadership developing probabilistic estimates of take rates. Additional probabilities from internal experts would be helpful for narrowing the sensitivity analyses.
Our current estimates are at xx originated loans at a value of $xx million, but we want to be careful not to consider this the default case until more details are substantiated.

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Go to Market Strategy

Customers eligible for Precision Apex have successful history with Precision, [in good standing], on path for [end of lifecycle for original Precision product]

Customers less likely to [turnover]

Expect [higher pool of customers reaching the end of original product life cycle]

Precision Apex has higher potential for increased revenue

Profitability

Takeaway: Customer mix for Precision Apex is possibly more profitable than traditional Precision products

24

Kayla

Eligible customers for Apex will be existing customers who:

Have demonstrated successful financial history with Precision by [proving their good standing]
are on their way to [end of product life cycle]

Traditional Precision products: mix of customers, who [characteristic redacted], [characteristic redacted], [characteristic redacted], and customers who [reach end of product life cycle]
Since this product will only be offered to eligible customers, we can expect the Apex mix to be made up of much lower [characteristic redacted] and [characteristic redacted] -> higher total profits
An important factor here is the [rate redacted] which estimates the likely [redacted] rate for [consumer mix]
[Rate] for the [Apex product] pool is expected to be considerably lower for the Apex product as compared to the [rate] average across all Precision Products . Lower [rate] means fewer [redacted] expected and more [revenue] for Precision. Essentially lower [rates] for this pool of [product] will ultimately mean higher than average income for the product, as compared to current Precision offerings

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Go to Market Strategy

One click confirmation

No additional customer input required

Full service agent set up

Action

Email / text push-notification

Tell non-qualified customers how to qualify

Educate merchants on Apex as value add

Reach

Schedule call with sales representative

Create website landing page for education

Easy comparison with other [product] options

“Apply Now” with discount / cash offers

Engagement

Objective:

Achieve target take rate (xx%)

Strategy:

Drive awareness

Increase knowledge

Enable sales team

Communicate value propositions

Short Term

Strategy

Transparency of [product] details

Develop [additional value/benefit]

Provide personalized plan to reach goals

Nurture

Takeaway: Reaching and educating customers will be true measure of product success

25

Peter

Now I will tell you about our short term go to market strategy, objectives, and tactics we believe will help Precision exceed these goals.

As an overall goal for the first year or so of this product, we believe the focus needs to be put into achieving at least a xx% [conversion] rate. From our previous calculations, [conversion] rate is the most important factor in determining the success of this product. By driving awareness to the product, increasing consumer knowledge in the marketplace, enabling the sales team, and effectively communicating the proper value proposition to the proper customer, exceeding the xx% take rate should be attainable!

Here are some tactics following a four-step process through the customer journey.

First, contact the qualified customers through emails, texts or push notifications. You can even reach out to non-qualified customers and educate them on how they can qualify for this great opportunity!

Second, to engage the customer, allow them to set up a call with a sales rep so they can learn more. Make this product easy to find on Precision’s website for those who want to self-educate. Consider offering discounts towards your merchants or a cash bonus if customers sign up fast!

Third get the customer to take action and move forward by having a simple 1-2 click confirmation process. If customers call customer service, let customer service set everything up seamlessly.

Finally, and most importantly, be sure to nurture this relationship so customers come back and tell their friends and family about the great experience they had with Precision.

Be transparent about all the details so customers aren't surprised later on. Show customers how [Precision improved their finances], and consider helping customers make a plan catered to their individual financial goals.

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Phase One

Phase Two

Email and Customer Service Sign Up

Sign Up Directly Through App

Help Customer Qualify with Checklist

Qualifier API and ML Model

01

03

02

04

Phase Three

Phase Four

Go to Market Strategy

Precision Apex Product Launch

Minimum Viable Product

Takeaway: These phases cover the necessary steps to launch a minimally viable product

26

Peter

Here are suggestions on phases throughout the product’s life.

First, customers should be given the opportunity to learn and sign up for this product from email or a dedicated customer service line.

Once this has justified the demand for this product, making it accessible through the app should be the next step to really ensure everyone is comfortable signing up for Apex.

Based on the success, we believe being informative and having a dedicated webpage for customers to access general and personal information will help create a more positive customer experience and will encourage people to want to use this loan again.

Finally, building a digital checklist for customers would be a great way of getting more qualified customers.

Some Precision customers [from the traditional product pool] may be eager to qualify, so the best way to help them is to tell them how they can qualify and track them in real time during their entire initial [product life cycle] to make sure they are on track to qualify for Precision Apex.

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“Don’t waste time waiting for approval. Get the funds you need today with Precision Apex.”�

“Skip the application process with Precision Apex- one click and you’re done.”

Emergency Customer

Long Term Debt Customer

“Avoid [competitor] fees and get the funding you need from a source you trust. Choose Precision Apex.”�

“Make your finances work for you. Precision Apex can [benefit you] and your financial health.”

Takeaway: We propose two campaign ideas for GTM messaging to maximize customer acquisition

Messaging: Quick and Easy

Messaging: Safe and [benefit]

Peter

Let’s go back and remember our two customer segments again: The “Emergency Expense” and the “Long Term Debt” customer personas. Both customers have different pain points, so we suggest adjusting your messaging towards each group.

Emergency customers will be need a quick and easy application, so messaging should sound something like “Don’t waste time waiting for [redacted] approval. Get the funds you need today with a Precision Apex.” or “Skip the [cumbersome] process with Precision Apex - one click and you’re done.”

While a long term debt customer is concerned more with the ability to have a safe option that helps them [benefit redacted], so the messaging towards them should sound more like “Avoid [product substitute] fees and get the funding you need from a source you trust. Choose Precision Apex”

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Long Term

Strategy

Go to Market Strategy

1

Self-Research

2

Visit Merchant

3

[Convert to Precision]

4

[End of Product Lifecycle]

5

[Convert to Precision Apex]

Objective: Increase total Precision sales

Increase customer base

Decrease qualifiers for more qualified applicants

Improve merchant relationships

Drive brand recognition

Takeaway: To create sustainable advantage, Precision needs to grow customer base or decrease qualifiers

Strategy:

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Project Review

Let’s recap our deliverables, process, results, and recommendations.

Competitive Analysis

Positioning and

Value Proposition

Go to Market

Strategy and Tactics

Deliverables

Top 3 Competitors

Safe and Easy for “Emergency” and “Long Term Debt” customers

Education and Engagement

Results

Indirect and Substitutes

Misconceptions and

Negative Connotations

Sustain Competitive

Advantage of Consumer Base

Additional Insights

29

So to recap what we covered today, we started off our presentation sharing the market perceptions of Precision as a brand and saw that Precision had a lot of competition in regards to brand recognition and merchant relationships. We also saw that people could use more education on terms like “[product category]” as it seemed there were negative connotations with it.

We then narrowed down into the competitive analysis for Precision Apex as a product. We identified direct, indirect, and substitute companies that could influence the positioning and services that Precision Apex should consider and determined the market sensitivity of the product.

The ideal positioning for Precision Apex should be “safe and easy”, and by doing so, it will be differentiated from other financing services.

We identified two customer segments and created value propositions for each segment: the “Emergency Customer” and the “Long Term Debt Customer”.

Lastly, we provided our recommendation for go to market strategies for both short term and long term. We emphasized the importance of increasing education initiatives and relationships with customers and merchants and provided a roadmap for the minimum viable product and messaging tactics that would help accomplish these strategies.

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Understand customer correlation between interest rates and payback period

Increase education and understanding around take rate

Launch large scale merchant insights project via consulting

Build relationship with [partner redacted] for [adding benefit capabilities]

Next Steps

Recommendations made from general market data

Merchant sampling based on local test group

Incorporate survey adaptations

Assumptions:

Cami

To fully understand the customer perceptions for Apex, we suggest launching the survey we created to gather insights on current Precision customers, since this product will be geared exclusively toward them.

Additional insights on perceptions and aptitudes that would inform [conversion] rate will be helpful by using the market survey in addition to machine learning algorithms.

Our data may skew toward opinions on a much more broad perspective because our respondents were across the United States and a very small percentage had any personal experience with Precision.

Since our merchant insight data was small and very local, Precision should conduct additional research to understand merchant partner’s perceptions of Precision-- with the caveat that the salespeople need to feel safe to share their honest opinions. We recommend hiring a consulting firm for merchant insights to prevent bias.

Helping Precision customers [improve financial health] is a great value add for Apex and therefore Precision should continue to pursue [building on this benefit].

Thank you for listening and we hope that this presentation was insightful and valuable as you prepare to make the Precision Apex product a reality! Now we can answer any questions you may have.

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Thank you.

University of Utah Consultants:

Brette Petersen, Cami Swan, Kayla Goldberg, Olivia Kamisher, Peter Smith