Partnership

A conversation about where we stand

2023

The Beginning

How This Started

War begins in Israel

'A' refocuses the entire team to support defense efforts

'S' visits the lab. Believes in the vision.

'S' invests $1.4M + option for $3.2M more — 33% total

Slide 3 of 12

Making Room

"We made room for you."

The Option

The Conversation

'A' → 'J'

"'S' still has his option. It's coming up in two months. If you want, I can speak with him about it for you."

'J' → 'A'

"Yes, please do."

— 3 hours later —

'J' → 'A' · reversal

"DON'T BRING IT UP. We don't take opportunities from others."

'A' respected 'J's request. No discussion was had with 'S'.

The Natural Outcome

What Happened Next

'J' said:
"Don't discuss it"

→

'A' respected
that request

→

'S' already gave
up 6% for 'J'

→

'S' exercises option
invests $2.4M

"This was the natural result of the decisions made."

The Reaction

The Response

Before 'S' closed

'J' told 'Y' he "might invest $500K — not really interested"
'J' chose not to discuss S's option when given the chance

After 'S' closed

'J' expressed disappointment. Felt "left out."
Did not acknowledge S's 6% sacrifice made for him
Did not acknowledge his own choice not to discuss it

Going Above & Beyond

A's Response

5%

'A' offered 'J' 5% of his own personal shares
to resolve the tension — not because he had to

'A' offers personal shares — not interested in selling

'J' commits to $4M investment at agreed valuation

Deal is signed. Money is transferred.

"This was done in good faith to make things right."

"The Principle"

After

+2

Two Days Later

'J' calls 'A'

"'S' basically told me to screw off."

'A'

"The 5% agreement was the resolution."

'J'

"You know, it's the PRINCIPLE."

After everything that was done. After money was transferred. After the deal was closed.

The Bigger Picture

What Is at Stake

Another war begins
Army orders 200 drones + 20 ground stations
Team working day and night under immense pressure
Investment identified as slowing factor — in best case, another quarter to close it. Every day costs lives and delays business growth
Team worked out a plan to resolve valuation issue

The Meeting

What Happened

'J' brings his entire family to the meeting
Asks for an update — doesn't engage with the update
Talks down at the team

"This is not how a partner acts."

The Full Picture

We See Both Sides

What 'J' Brought

Introduced 'Y' as a director
Connected us with key people — lobbying, partners, investors
Said "it's a project, like every other project" — and set up a relevant meeting
We recognize and value this

What's Not Recognized

⚠️ 'A' and 'S' both gave up shares to make room for 'J'
⚠️ 'A' offered to discuss the option with 'S' — 'J' said no
⚠️ 'A' sold 5% of personal shares to resolve the tension
⚠️ The team worked through wartime to deliver results and find solutions

What Went Wrong

Refused to discuss, then complained about the outcome
Demanded special terms repeatedly
Disrespected the team during wartime — while they were finding solutions
Still on "the principle" after the resolution was complete

Partnership is not just the good moments — it's how we handle the difficult ones.

Where We Stand

"I want you to understand how this looks."

"We have gone above and beyond at every step."

"Partnership requires mutual respect."

"The question is: where do we go from here?"