Moving Image Technologies, Inc. · AMEX:MITQ
Moving Image Technologies — IPO Roadshow (January 2020)
30 slides from Moving Image Technologies's IPO roadshow presentation, Jan 14, 2020
Slide 1: IPO Presentation January 2020
MOVING iMAGE TECHNOLOGIES YOUR DIGITAL CINEMA EXPERTS IPO Presentation January 2020 Filed Pursuant to Rule 433 Issuer Free Writing Prospectus Dated January 14, 2020 Registration Statement No. 333 - 234159
Slide 2: Forward Looking Statements
MOVING iMAGE TECHNOLOGIES YOUR DIGITAL CINEMA EXPERTS Forward Looking Statements . This presentation and other written or oral statements made from time to time by representatives of Moving iMage Technologies, Inc . (the “Company”) contain “forward looking statements” within the meaning of Section 2
Slide 3: Company business and highlights
MOVING iMAGE TECHNOLOGIES YOUR DIGITAL CINEMA EXPERTS • MiT designs, manufactures, integrates, installs and distributes a full suite of proprietary and custom designed equipment as well as other off the shelf cinema products needed for contemporary cinema requirements • We believe this market is at
Slide 4: Company Background
MOVING iMAGE TECHNOLOGIES YOUR DIGITAL CINEMA EXPERTS Company Background • Founded in 2003 by senior management team of industry veterans • Over 17,000 integrated systems sold in North and South America. • Our customers include almost all of the major North American - based theater chains (Cinemark,
Slide 5: Our Market
MOVING iMAGE TECHNOLOGIES YOUR DIGITAL CINEMA EXPERTS Our Market Market Focus: commercial cinema, multi - use auditoriums, post - production facilities and high - end residential (industry VIPs) We believe the industry is in the early stages of a cyclical growth and capital spending cycle • Commerci
Slide 6: Our Market (cont.) New Theater Construction
Our Market (cont.) New Theater Construction--MiT participated in ~25% of the ~3,100 new or upgraded theaters in 2019 in the USA . Projection, sound Seats, screens Finishes, lighting Consulting, project management Installation Work with architects and exhibitor technical personnel to Design-in MIT pr
Slide 7: Existing Theater – Upgrade and Refurbishing
MOVING iMAGE TECHNOLOGIES YOUR DIGITAL CINEMA EXPERTS Existing Theater – Upgrade and Refurbishing • Replacement cycle on first generation digital projection gear starting in 2017/2018 [10 year usable life] • Upgrades to recliners, immersive audio • Screen size increases, PLF (Premium Large Format) •
Slide 8: Projection Systems
MOVING iMAGE TECHNOLOGIES YOUR DIGITAL CINEMA EXPERTS Projection Systems - Xenon - Laser Phosphor - RGB Laser Texas Instruments DLP Technology For illustrative purposes only. There is no guarantee that any specific outcome will be achieved. Past performance is not in dic ative of future results. Inv
Slide 9: Market Opportunity – Replacement Cycle
MOVING iMAGE TECHNOLOGIES YOUR DIGITAL CINEMA EXPERTS Market Opportunity – Replacement Cycle • Commercial cinemas are now on 10 - 15 yr technology replacement cycle • Obsolescence and upgrades will likely be the new normal to stay competitive • 3,100 Series 1 projectors/servers will likely need to b
Slide 10: Estimated North American Available Replacement Projector Market
MOVING iMAGE TECHNOLOGIES YOUR DIGITAL CINEMA EXPERTS 0 200 400 600 800 1000 1200 1400 1600 1800 2000 2017 2018 2019 2020 2021 2022 2023 104 105 245 745 1175 1850 1880 Estimated North American Available Replacement Projector Market (units) (Excludes AMC, Cinemark, Regal) [Source : NEC Display Soluti
Slide 11: Our Products & Services
MOVING iMAGE TECHNOLOGIES YOUR DIGITAL CINEMA EXPERTS Our Products & Services • Manufactured Products • New Proprietary Products • Proprietary Services • Licensed third party products There is no guarantee that any specific outcome will be achieved. Past performance is not indicative of future resul
Slide 12: Proprietary Manufactured Products: Energy Management and LED Lighting
MOVING iMAGE TECHNOLOGIES YOUR DIGITAL CINEMA EXPERTS Proprietary Manufactured Products Energy Management Power Sequencing and Filtering LED Lighting Efficient, Accurate Lighting and Dimming for Auditoriums IS - 30 IS - 20D ALF ALMS For illustrative purposes only. There is no guarantee that any spec
Slide 13: Proprietary Manufactured Products: Supports, Enclosures, Automation
MOVING iMAGE TECHNOLOGIES YOUR DIGITAL CINEMA EXPERTS Proprietary Manufactured Products Projection Supports & Enclosures Designed for System Integration and Architectural Design Flexibility Automation Systems Supporting Automated Cinema Operations Micropod IMC3J IMC2e 3D XL Mover S2 Pedestal S4 Pede
Slide 14: New Market Opportunity – Multi-language Captioning
MOVING iMAGE TECHNOLOGIES YOUR DIGITAL CINEMA EXPERTS New Market Opportunity – Multi - language Captioning • Any language, including sign language • Outreach to non - English speaking movie going population • Recurring revenue/subscription service • Satisfies ADA requirement for hearing and vision d
Slide 15: Software as a Service (SaaS) Products
MOVING iMAGE TECHNOLOGIES YOUR DIGITAL CINEMA EXPERTS Software as a Service (Saas) Products Cinergy™ • Cloud hosted, enterprise software for cinemas • Monthly subscription based • Monitoring, content scheduling, asset tracking, key delivery • Much higher margins than our traditional products CineQC™
Slide 16: Services
MOVING iMAGE TECHNOLOGIES YOUR DIGITAL CINEMA EXPERTS SERVICES Commercial Cinemas, Post - production, Screening Rooms NOC and Remote Service • Subscription based, monthly service • Consumables, spares, onsite service and new sales generation • Leverages off Cinergy™ SaaS platform • High gross margin
Slide 17: Licensed Products & Systems
MOVING iMAGE TECHNOLOGIES YOUR DIGITAL CINEMA EXPERTS Licensed Products & Systems We have relationships with almost all of the major providers of cinema equipment; their equipment is used along with our own in our systems integration projects For illustrative purposes only. There is no guarantee tha
Slide 18: Direct View LED
MOVING iMAGE TECHNOLOGIES YOUR DIGITAL CINEMA EXPERTS • Disruptive product/technology • 100,000 hour life - span vs. 30,000 hours for laser projection • Unprecedented improvement in image quality • MiT has developed integration relationships with approved providers, Samsung and Sony • MIT has develo
Slide 19: Commercial Cinema Customers
MOVING iMAGE TECHNOLOGIES YOUR DIGITAL CINEMA EXPERTS Commercial Cinema Customers For illustrative purposes only. There is no guarantee that any specific outcome will be achieved. Past performance is not ind ica tive of future results. Investments may be speculative, illiquid and there is risk of to
Slide 20: Specialty Venue Customers
Specialty Venue Customers Rock & Roll Hall of Fame, Cleveland, OH Director’s Guild of America, West Hollywood, CA UCLA Film School, Los Angeles, CA Canada’s Wonderland, Toronto, Canada Princeton University, Princeton, NJ Lionsgate Films, Santa Monica, CA Wallis Annenberg CPA, Beverly Hills, CA Balbo
Slide 21: Caddy acquisition
MOVING iMAGE TECHNOLOGIES YOUR DIGITAL CINEMA EXPERTS • Designs and sells proprietary cupholder and other seating - based products and lighting systems • Holds 20 patents • Acquired by MiT in July 2019 • Leader in the cinema market • Leader in the stadium and arena market • We have seamlessly integr
Slide 22: Growth Plan
MOVING iMAGE TECHNOLOGIES YOUR DIGITAL CINEMA EXPERTS Growth Plan • Aim to position MiT to grow along with the upturn in commercial cinema CAPEX • Aim to emphasize higher margin, proprietary products and solutions • Translation glasses, SaaS products and services to enhance theatre operations, Caddy
Slide 23: Management Team
MOVING iMAGE TECHNOLOGIES YOUR DIGITAL CINEMA EXPERTS • Phil Rafnson: Chairman: founder MTS, $60M revenue cinema equipment supplier, sold to Soundelux . F ormer President, ICTA • Glenn Sherman: CEO: Former CEO of Christie, founder and CEO of Laser Power (NASDAQ: LPWR), acquired by II - VI, Inc (NASD
Slide 24: Financial Summary: Balance Sheets pre and post IPO
MOVING iMAGE TECHNOLOGIES YOUR DIGITAL CINEMA EXPERTS Financials are estimated, unaudited and may be subject to change. There is no guarantee that any specific outcome will be achie ved. Past performance is not indicative of future results. Investments may be speculative, illiquid and there is risk
Slide 25: Q1 FY2020 vs. Q1 FY2019 and Full Year Results
Q1 FY2020 vs. Q1 FY2019 Sales Increase 14% Maintaining Higher Margins vs FY 18 Increase in SG&A primarily due to IPO related expenses $55,000 Caddy Intangible Amortization/Interest Expense Full Year FY2019 vs. FY2018 Sales decrease impacted by customer timing Margin improvement resulting from produc
Slide 26: Use of Proceeds
MOVING iMAGE TECHNOLOGIES YOUR DIGITAL CINEMA EXPERTS Use of Proceeds • Expansion of sales and marketing activities • Entry into new markets such as the EU, South America, Asia • Potential acquisitions (roll up) • We now have our stock to use as currency • Increased working capital to fund revenue g
Slide 27: The Offering
MOVING iMAGE TECHNOLOGIES YOUR DIGITAL CINEMA EXPERTS The Offering • Shares offered: 2,300,000 • Price Range: $4.00 - $4.50 • Shares out. after the offering: 7,223,654 • Over allotment: 345,000 (15%) • Listing: NYSE American • Symbol: MITQ • Managing Underwriter: Westpark Capital • Co - Manager Bous
Slide 28: Company business and highlights
MOVING iMAGE TECHNOLOGIES YOUR DIGITAL CINEMA EXPERTS • MiT designs, manufactures, integrates, installs and distributes a full suite of proprietary and custom designed equipment as well as other off the shelf cinema products needed for contemporary cinema requirements • We believe this market is at
Slide 29: Selected Risks Associated with Our Business
MOVING iMAGE TECHNOLOGIES YOUR DIGITAL CINEMA EXPERTS Selected Risks Associated with Our Business Our business is subject to a number of risks and uncertainties, including those highlighted in the section titled “Risk Factors” in the prospectus included in the registrations statement filed with the
Slide 30: Thank You
MOVING iMAGE TECHNOLOGIES YOUR DIGITAL CINEMA EXPERTS Thank You For more information please contact: Richard Rappaport, CEO WestPark Capital Inc. (310) 843 - 9300 R@WPCAPITAL.COM Keith Moore, CEO Boustead Securities, LLC (949) 295 - 1580 keith@boustead1828.com
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