UPDATES FROM THE GDRC-COHERIX PROJECT

UPDATES FROM THE GDRC- COHERIX PROJECT

BUSINESS UPDATES

1) Coherix, Inc. announced a $12 Million investment to expand operations in Ann Arbor, Michigan, and to launch a joint venture in China. The China JV new office is located in Shanghai. Sales Offices are being set up in four other regions in China. A staff of 20 is being recruited by the end of the year. Sales of Coherix products in China result in sales for Coherix, Inc. which develops and manufactures these products.

2) Robust3D products, whose development has been funded by EB-5 investments, are being marketed around the globe. The market demand for these products is strong and the company is expanding to meet this demand.

3) Dr. Li Zhang, Coherix’s second EB-5 investor, who is also a full-time team member recently traveled to China to assist Comau (a large systems integrator) with the new Coherix Piston Pin Circlip error proofing application installed at Fiat Chrysler.

4) Coherix has partnered with University of Michigan Joint Institute with Shanghai Jiao Tong University to provide internships to international students seeking work experience. Coherix’s CEO, Dwight Carlson, presented to the SJTU Joint Institute at University of Michigan on February 13, 2016 and received an overwhelming response. There were about 38 students in attendance and approximately 24 have contacted Coherix for on-site interviews. Coherix is actively recruiting to fill Mechanical Design and Application Engineering internships. Selectively, a few of the internships will turn into part-time co-op positions.

5) Two of Coherix EB-5 investors are graduates of the University of Michigan. Coherix’s ability to tap into bright, hard-working, creative engineering talent is a significant benefit of GDRC-Coherix project.

6) Coherix achieved a gross sales $5,300,000 and a profit of $1,500,000 in 2015. Predator3D Revenue in Q4, 2015 was $626,250 and Coherix issued its first Predator3D royalty checks to investors. Coherix also successfully closed its fifth EB-5 subscriber to the project this period.

About Coherix:

Coherix products capture high speed, high definition 3D pictures within seconds to allow customers to quickly and accurately see that each part being produced meets their quality standards. Based on multiple non-contact technology platforms, Coherix solutions are designed to improve the management of manufacturing processes. Coherix technologies enable customers to control the quality of the products they manufacture. Coherix is the third high tech company created by the Coherix management team members in the Ann Arbor area. Perceptron, the second company created by the management team, is a publicly traded company.

Coherix is Headquartered in Ann Arbor, the company has operations in Europe and the Asia Pacific region. Coherix products are being utilized around world at companies such as BorgWarner, Chrysler, Ford, General Motor, Honda, Infineon, Intel, John Deere, KYEC, MAG, Micron, SPIL, TRW and Volvo AB among others.

More information is available at https://www.coherix.com.

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