2. The executor of the project is a limited liability company “Scientific and production enterprise” «Spectrum» (Dnepropetrovsk). The company was created to develop and implement a project for the production of acoustooptical single crystals; it has no analogues in Ukraine. In the work on this project, participants will be like-minded staff, which will comprise of academics, highly qualified specialists of technical and economic profile. The main goal of the work of our team is creating a unique high-tech production of acoustooptical single crystals of relevant international standards. Planned production is flexible, mobile, and easily adaptable to manufacture a wide range of products, photonics, optoelectronics, as well as other types of crystals grown by the Czochralski method, in accordance with the current needs of the market. PROJECT OVERVIEW

3. This product is a device which allows modulating the intensity and direction of the laser beam. The product is applied in the systems intracavity management of intensity laser radiation, fiber-optic lines of communication, medicine, electronic industries, it is an indispensable product in the field of Photonics, optoelectronics, optics, precision mechanics, electric and laser technology. Product – the production is made of acoustooptical single crystals (paralellurit, niobat lithium and others), processed in accordance with the requirements and specification of the customer. DESCRIPTION OF INNOVATION PRODUCT

4. According to the companies «Compaund Semiconductor» (www.CompоundSemiconductor.net) and «Optically Networked» (www.opticallynetworked.com) with reference to the authoritative corporation «ElectroniCastCorp» (www.electronicast.com), the industry and Photonics products market is currently under intensive growth, which ensures effective implementation of the project.www.CompоundSemiconductor.netwww.opticallynetworked.comwww.electronicast.com According to the companies «Compaund Semiconductor» (www.CompоundSemiconductor.net) and «Optically Networked» (www.opticallynetworked.com) with reference to the authoritative corporation «ElectroniCastCorp» (www.electronicast.com), the industry and Photonics products market is currently under intensive growth, which ensures effective implementation of the project.www.CompоundSemiconductor.netwww.opticallynetworked.comwww.electronicast.com Market optical modulators of North America show a steady growth (2010 market, increased by 35% compared to 2009). On the basis of current market growth and faster growth of its needs, on the most conservative estimates, the further increase of demand is forecast for 22% per year (2011-2015 periods). MARKET ANALYSIS

5. POTENTIAL CONSUMERS OF INNOVATION PRODUCT MARKET ANALYSIS

6. MANAGING COMPANY LLC AMC "FINGRIN" Financing «SPECTRUM» LTD VENTURE FUND "SPECTRUM" Profit Private investors Investments profits ORGANISATION SCHEME FUNDING

7. Legal support Financing of the project and monitoring of its implementation in accordance with the approved budget and schedule. Accounting is performed by qualified specialists of the company that allows you to enforce legislation and cost optimisation. The Legal Department of AMC «Fingrin» performs a full legal support and representation of interests of the company. Tender Committee On-line Monitoring All purchases of equipment, materials and services on the project are made on the basis of public tenders. On-line information is available to investors about the process of the project implementation schedule works, quotations of "SPECTRUM", the financial condition of the enterprise at any given time. MONITORING AND PROJECT MANAGEMENT Budgeting Accountancy INVESTMENT PROTECTION

8. THE ORGANISATIONAL PLAN OF PRODUCTION Preparatory phase The creation of industrial production - 360 single crystals in a year. Receiving the first batches of products. Product supply contracts with the end-users. The sale of products. Market development. FUNDING – 13 157 Thousand UAH The creation of industrial production - 360 single crystals in a year. Receiving the first batches of products. Product supply contracts with the end-users. The sale of products. Market development. FUNDING – 13 157 Thousand UAH 1st stage From 1 – 12 month 1st stage From 1 – 12 month Formation of innovative ideas, research, laboratory tests, determination and optimisation of technological parameters, the development of innovative proposals, market research, strategy ways to promote products, definitive list of necessary equipment and the development of technical specifications for its production, search and selection of production facilities, a business plan, patenting and State registration of intellectual property rights, the development of project financing schemes, registration of enterprises and venture fund, the negotiation and signing of documents of intent with potential project partners. FUNDING – 15 000 Thousand UAH Formation of innovative ideas, research, laboratory tests, determination and optimisation of technological parameters, the development of innovative proposals, market research, strategy ways to promote products, definitive list of necessary equipment and the development of technical specifications for its production, search and selection of production facilities, a business plan, patenting and State registration of intellectual property rights, the development of project financing schemes, registration of enterprises and venture fund, the negotiation and signing of documents of intent with potential project partners. FUNDING – 15 000 Thousand UAH Expansion of production up to 7776 crystals in the year. Conclusion of long- term contracts with suppliers and buyers. Accreditation of the company to ISO. FUNDING – 21 843 Thousand UAH Expansion of production up to 7776 crystals in the year. Conclusion of long- term contracts with suppliers and buyers. Accreditation of the company to ISO. FUNDING – 21 843 Thousand UAH 2nd stage From 12 -16 month 2nd stage From 12 -16 month PLAN FOR PRODUCTION

9. LOCATION OF ENTERPRISE Satellite view The general view of the building The plan of the building THE ORGANISATIONAL PLAN OF PRODUCTION

10. BLOCK DIAGRAM OF CREATION OF AN ENTERPRISE Chemical- analysis laboratory Growing unit Plot of processing of crystals Assembling finished products Quality control service Chemical-analysis laboratory Incoming control of raw materials, preparation of the original charge THE PLAN OF CREATION OF PRODUCTION

11. BLOCK DIAGRAM OF AN ENTERPRISE Plot of processing of crystals Cutting, grinding and polishing of crystals. Optical quality control is performed. Growing unit Growing crystals from molten charge by Czochralski method THE PLAN FOR CREATION OF PRODUCTION

12. BLOCK DIAGRAM OF AN ENTERPRISE Quality control service Quality control service is performed at every stage of production and is carried out in accordance with the requirements of the ISO. To verify the quality of the used microscopes, lasers of different wavelengths and power. Assembling plot of crystals Anti-reflective coating materials for crystals, diffusion welding, electrodes, certification, marking, packing. THE PLAN FOR CREATION OF PRODUCTION

13. Agreement A tentative agreement has been reached with Ad Astra Management B.V. (the Netherlands), which is a major distributor of crystals in the countries of Europe; on sales of products on the European market. reliable experts in the field of improving business processes, introduction of new principles of management of production and have great experience in promotion on the world market. The Company undertakes to provide assistance in the establishment of production with the necessary infrastructure and implementing a management system A cooperation agreement has been reached with "Saventi BV" (Netherlands), who are THE PLAN FOR CREATION OF PRODUCTION

14. SUCCESS FACTORS The quality of the product It is guaranteed to use enhanced growth equipment, as well as participation in the production company Saventi BV (Netherlands), which has extensive experience in creating from "zero" such productions and move them to the world market. At the first stage, the cost of the product allows to sell ready-made, fully processed, sprayed coated crystals at cost of only processed ones. After capturing a segment of the market, the price of products will grow. Pricing The organisation of production and sales of products will be implemented with the participation of "Ad Astra Management B.V." (Netherlands), which have been briefed to ensure the promotion of products in Europe and the United States. A cooperational contract has been signed. Developing the market Qualification training Reliability The experts of the Project Office AMC «Fingrin» implement the full range of project management activities using advanced software that allows you to minimise your risks and comply with the planned project. Involved in the project will be leading scientists, including doctors of technical sciences, with experience in the production of single crystals, as well as specialists with the necessary qualifications. THE PLAN FOR CREATION OF PRODUCTION

15. PROJECT PERFORMANCE INDICATORS ACTIVITIESTOTALYear 1Year 2Year 3Year 4Year 5 1The total investment, thous. UAH50 00028 15721 843000 2Net profit thous. UAH102 611-3 09323 35626 10026 84327 405 3NPV (NPV), thous. UAH26 690-48 083-27 280-2 70813 30526 690 4Profitability index1,530,040,560,951,271,53 5Break-even point, unit of production*6 6162 3232 1111 9371 806 6Return on sales, %45,3%45,3%*45,3%45,3%46,6%46,6%47,9%47,9%48,9%48,9% 7ROI, %205%***** 8 Payback period in months 30***** 9 Payback period (discounted), month 38* * ** * 1010 Internal rate of return (IRR) 34%***** TECHNO-ECONOMIC INDICATORS OF THE PROJECT

16. ТОЧКА БЕЗУБЫТОЧНОСТИ БЮДЖЕТНАЯ ЭФФЕКТИВНОСТЬ TECHNO-ECONOMIC INDICATORS OF THE PROJECT BREAK-EVEN POINT Fixed costs, thousand UAH Variable costs, thousand UAH Break-even point in monetary terms Revenue BUDGET EFFICIENCY Surplus revenue Accumulated surplus revenue 1 year 2 year 3 year 4 year 5 year

17. THE SCHEDULE OF THE PROJECT PAYBACK TECHNO-ECONOMIC INDICATORS OF THE PROJECT Timetable for payback with discount Payback schedule without discounting Quarter REVENUE/COSTS 1 year 2 year 3 year 4 year 5 year Revenue Costs Net profit

18. THE VENTURE FUND "SPECTRUM" 1. The way of placing of investment certificates issued-closed (private) placement 2. The total nominal value, of certificates for deployment – 50000000 UAH. 2. The total nominal value, of certificates for deployment – 50000000 UAH. 3. The nominal value of each investment certificate – 1000 UAH. 3. The nominal value of each investment certificate – 1000 UAH. 4. Number of investment certificates – 50000 pieces 5. Form of investment certificates – is non-documentary 6. Form of issue of investment certificates, registered FORECAST FOR PROFITABILITY AND DYNAMICS OF COST OF SECURITIES

19. FORECAST FOR PROFITABILITY AND GROWTH DYNAMICS OF SECURITIES The company's profitability forecast Surplus revenue Yield forecast of investment certificates

20. The growing demand for innovative product, even during "the global financial crisis", suggests that the enterprise is profitable asset, therefore the forecast investment certificate value dynamics will be comparable with the cost of sustainable banking assets. FORECAST FOR PROFITABILITY AND GROWTH DYNAMICS OF SECURITIES Forecast of the market value of the company Cost of 1 investment certificate

21. ACCUMULATED CASH FLOWS The accumulated investors' cash flows Accrued investors' dividends FORECAST FOR PROFITABILITY AND GROWTH DYNAMICS OF SECURITIES Thousand UAH