Nusym Status summary November 2, 2005

All funding rounds are closed and the company raised the amount of money it planned. Due to lower staffing ramp, the company’s burn rate is lower than planned at this time.

PRODUCT

The company is using a product development methodology with snapshot releases every eight weeks that are run on several test designs of varying characteristics. The most recent snapshot had achieved up to 80% design coverage In addition, the value to design debug has proven to be more significant than originally thought due to the unique signal propagation technique used.

The non-optimized symbolic simulator is now running at 20-30X faster than Verilog and is expected to be over 100X with optimization with the benefit being that is can run very large designs and significantly shorter time periods.

The product is coming together nicely with the three main working together in a flow.

STAFFING

The company has closed with 2 leading formal verification experts that will be on board by the end of 2005. It had also made the decision to offshore the simulation work to a small team in India composed of ex-Synopsys people. This team is headed by a person who will be local here to assure cohesiveness of operation.

As a result of staffing delay, the company is now expecting beta release in May of 2006. I believe the company will be back on the original track by mid next year.

CUSTOMERS

Within the last 8 weeks, the company presented its direction and concept to 14 companies in the US, out of which 13 (!) would like to become beta sites. I think we have a solid proof of need.

Arik Paran
Board Observer