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ILUS International, Inc. (ticker: $ILUS)

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Tasher123   Thursday, 08/19/21 09:33:36 AM
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ILUS International, Inc. (ticker: $ILUS)


Website: https://ilus-group.com Email: info@ilus-group.com Twitter: @OTC_ILUS

US Office:
26 Broadway, Suite 934 New York, NY 10004, USA Tel: +1 (917) 522-3202
Fax: +1 (917) 522-3203


UK Office:
Matrix@Dinnington Business Centre, Nobel Way
Dinnington, Sheffield S25 3QB, UK Tel: +44 (0) 1909 547070





UAE Office:
Warehouse G04, 79th Street DIRC Warehouse Complex Dubai Investment Park 2 Dubai, UAE
Tel: +971 (0) 454 744 88 44

ILUS International is a public Mergers & Acquisitions investment company operating out of New York, London, and Dubai, focused on adding shareholder value through innovation and growth. ILUS focuses primarily on innovative emergency services and life safety and related technologies, such as emergency response vehicles, electric utility vehicles, specialist vehicle conversions, disruptive firefighting equipment, wearable technology, and related software solutions. With a proven record of acquiring carefully selected businesses that are appropriate to the company’s vision, ILUS aims to complete further acquisitions of companies which possess innovative and disruptive technology and already achieve annual revenue of $1-10 million. Since its inception in January 2021, ILUS has already completed multiple acquisitions and is completing new acquisitions each quarter, each of which rapidly increases the global expansion and growth of the company. ILUS’s three-pronged acquisition strategy involves acquiring companies for one or more of: technology; manufacturing capacity; route to market.


ILUS International Website

https://ilus-group.com

Global Footprint



The ILUS International Team



Nicolas Link
Chief Executive Officer


Daniel Link Deal Originator

Dr Krishna Moorthy PhD LLB, MBA Chief Financial Officer


John Paul Backwell Director

Irina Shatalova MBA
Investor Relations, PA to CEO/CFO


Dr Artem Belov PhD
Advisor, Founding Investor, VC

Louise Bennett
Chief Operations Officer


Dejana Radonjic MBA Marketing Director


Nicolas Link, Chief Executive Officer
Nicolas (Nick) Link was born and raised in South Africa, where he began his career as a professional cricket and rugby player. In this capacity, he moved to and spent some time in the UK, before returning to South Africa to begin his entrepreneurial career at the age of 21.
His first business was a talent acquisition company, which he founded, grew, and exited successfully. He then moved back to the UK in 2003, where he founded one of the first online fire equipment companies, selling mainly fire extinguishers and associated products. This company became Jewel for products, a fire products holding company. He grew that company while along the way acquiring, merging, and selling a number of additional companies. After a significant acquisition, the company became Jewel-Saffire Products Ltd., which eventually built a factory in China to manufacture their products and ship them back to the UK and the Middle East for distribution, to a total of 63 countries.
The onine division of Jewel-Sapphire, which Nick had developed as a very successful business model to become the largest private fire extinguisher manufacturer in the UK, was sold to safelincs.co.uk around 2009. Nick exited this business in 2011, selling his shares to the other partners and paving the way for branching out into other more technology-focused areas, and created the company which would eventually become FireBug. Nick had acquired a factory in the UK, which happened to be near a Rolls-Royce factory. As luck would have it, Rolls-Royce was cutting back on their engineering staff, so Nick took advantage of this to hire a number of these skilled engineers. He was approached by a chemicals manufacturer and tasked with developing a briefcase-sized device that could disperse chemicals to counteract and render inert toxic substances, such as those deployed in terrorist attacks. He accepted the challenge, invested in R&D and made use of the acquired skilled engineers, and developed a device which, when deployed, would disperse its contents in a fog-like cloud over a certain area for protection against bio-terrorism. Unfortunately, the contracting manufacturer was unable to successfully identify buyers for this tech, so Nick’s company was left with the technology they had developed, with no real-world application or the means to sell it. This, combined with the experience gained from Nick’s previous fire suppression products business, allowed him to adapt the system to use water (rather than chemicals) and develop the WaterMist technology which today forms the backbone of FireBug’s firefighting platform.
Using this new technology, they were able to develop a fixed system and product, where their initial aim was to enter mission-critical sectors (oil, gas, manufacturing, mining…), in which the failure to contain fires on or near critical equipment would be catastrophic, leading to significant revenue loss. The company was noticed and Nick was approached and tasked with converting and applying the technology from this fixed system to firefighting nozzles. This began the growth period of FireBug as a company, and the development of one of their key products – what is known today as the MistNozzle.
With the goal of taking the company public to allow further growth, Nick (through his holding company, FB Technologies Global Inc.) began a long search for a suitable shell into which to merge his company. In parallel, the CEO of the old management team of ILUS, Larson Elmore, had been searching for over two years for an appropriate merger candidate to reverse-merge into the ILUS shell. On January 26, 2021, Larson Elmore stepped down and Nick was appointed CEO of what would become ILUS International.
JP Backwell now works full time with ILUS, having been involved as an ILUS Director since December 2020 and with FireBug since December 2014. Mr. Backwell left full-time involvement as Managing Director of Detego Global to focus 100% on ILUS.
Dr. Krishna Moorthy consults to both ILUS and BSC on a freelance basis and will continue to work closely with ILUS due to his experience and knowledge of the business.
Dr. Artem Belov was a founding investor of FireBug. He has exceptional VC experience and is on board as an advisor.




Timeline: Material Events and Announcements


• 1/26/21 – Larson Elmore steps down as CEO of ILUS (old management) and appoints Nicolas Link as new CEO, after searching for over 2 years for the right merger candidate. ILUS is refocusing as an M&A company with strategy of acquiring tech-oriented companies, mainly in the fire and rescue sector globally. Acquisition: FB Technologies Global Inc. holding group (FireBug Group), founded by Nicolas Link, which includes FireBug (which manufactures ultra efficient rapid response vehicles) and E-Raptor (the 1st 6x6 electric UTV). ILUS is in negotiations with 2 further acquisition targets in the near term, and has identified 9 acquisition targets that meet ILUS’s strategic objectives over the next 2 years.
https://www.issuewire.com/otcilus-acquires-fb-technologies-a-global-technology-company-in-the-fire-rescue-market-appoints-new-ceo-board- 1689936822558881
• 1/28/21 – NV SOS filings submitted; Verified profile; working to get current; active Twitter account.
• 2/2/21 – ILUS signs MoU to partner with Milanion Group LLC (https://milaniongroup.com), to integrate ILUS fire equipment technologies into Milanion Agema Unmanned Ground Vehicle (UGV) autonomous vehicles (Civil Defense and Military applications) and to integrate Milanion autonomous technology into the ILUS E-Raptor.
https://www.globenewswire.com/news-release/2021/02/02/2168567/0/en/OTC-ILUS-Partners-With-Milanion-Group-to-Integrate-ILUS- Technologies-With-Milanion-Autonomous-Vehicle-Technology.html
• 2/3/21 –Name change in NV SOS to ILUS International, Inc.; subsequently changed back to Ilustrato Pictures International Inc. in order not to delay tier change to Pink Current + audited reports. Goal: uplist to NASDAQ without RS.
• 2/4/21 – Acquisition of TVC – The Vehicle Converters LLC (https://thevehicleconverters.com), a $3M annual revenue business operating as a specialist manufacturer and converter of service vehicles. FireBug and TVC factories to merge into a single facility in Q2 2021. TVC has the assembly capability to scale up production of the ILUS E-Raptor. Large demand for ILUS & TVC products in the MENA region, including the huge NEOM city/region project in Saudi Arabia.
https://www.globenewswire.com/news-release/2021/02/04/2170244/0/en/OTC-ILUS-ILUS-International-Completes-Acquisition-of-The- Vehicle-Converters-LLC-TVC-Increasing-ILUS-Group-Manufacturing-Capability-in-Preparation-for-the-ILUS-EV-FireBug-Technology.html
• 3/4/21 – Access granted to SEC Edgar system.
• 3/10/21 – Financials uploaded for 2019 and 2020 – up to 12/20 (prior to new management take over in 1/21).
• 3/11/21 – Attorney letter uploaded – tier change from Pink No Info (stop sign) to Pink Limited Info (yield sign).
• 3/23/21 – Tier change from Pink Limited Info (yield sign) to Pink Current.
• 3/24/21 – Financing agreement with Toto Capital announced: ILUS granted Toto the branding rights to launch an ILUS- branded crypto token/coin. Toto will pay ILUS a royalty on token sales + direct investment into ILUS in an amount to exceed $35M over the next 18-24 months (non-dilutive, non-debt funding). Technical development of the coin will be carried out in partnership with Swifty Global ($DRCR).
https://www.globenewswire.com/news-release/2021/03/24/2198761/0/en/OTC-ILUS-ILUS-International-Ilustrato-Pictures-International-Inc- Signs-Financing-Agreement-with-Toto-Capital-Inc-to-Launch-an-ILUS-Crypto-Token-Coin.html
• 4/5/21 – Shareholder update: Old restricted noteholder was permitted to convert notes by the Transfer Agent, without ILUS’s knowledge or authorization, resulting in dilution. This was accomplished by an Automatic Conversion Agreement that had been signed between the Transfer Agent and a restricted noteholder (and which was not made known to the new management), allowing them to convert without the current CEO’s authorization. Nicolas Link announced that he contributed 10M of his personal shares of $DRCR to ILUS (worth ~$33M at the time). *Beginning of pullback with noteholder selling.
• 4/9/21 – @OTC_ILUS tweet: Commercial kitchen fire suppression system tested in McDonald’s restaurants.
• 4/13/21 – Acquisition of BCD Fire – Bright Concepts Detection & Protection LLC, a specialist fire & security systems integrator. BCD Fire Kitchen Fire Suppression system to be integrated with ILUS WaterMist technology.
https://www.globenewswire.com/news-release/2021/04/13/2209254/0/en/OTC-ILUS-ILUS-International-Ilustrato-Pictures-International-Inc- Acquires-Bright-Concepts-Detection-Protection-LLC-a-Specialist-Fire-Security-Systems-Integrator-Which-Currently-Ope.html
• 4/19/21 – @OTC_ILUS tweet: Applying for Penny Stock Exempt status.
• 4/26/21 – ILUS partners with TakeLeap, a global AI and VR tech leader to roll out VR fire training globally.
https://www.globenewswire.com/news-release/2021/04/26/2217125/0/en/ILUS-International-Ilustrato-Pictures-International-Inc-Partners- With-TakeLeap-a-Global-Artificial-Intelligence-and-Virtual-Reality-Technology-Leader-to-Roll-Out-Virtual-Reality-Fi.html
• 4/29/21 – ILUS and Milanion announce the rollout plan for the ILUS Unmanned Firefighting Vehicle (UFV), a revolutionary autonomous firefighting vehicle based on the existing Milanion Agema UGV platform, which can house a deployable drone (UAV) to provide aerial surveillance.
https://www.globenewswire.com/news-release/2021/04/29/2219718/0/en/ILUS-International-Inc-OTC-ILUS-ILUS-Announces-the-Rollout-Plan- for-Its-Revolutionary-Autonomous-Firefighting-Vehicle-Technology-in-Partnership-With-Milanion-Group.html
• 4/30/21 – Launch of ILUS Coin (presale).
https://www.globenewswire.com/news-release/2021/04/28/2218978/0/en/OTC-ILUS-ILUS-International-Ilustrato-Pictures-International-Inc- Announces-the-Much-Anticipated-Release-of-the-Revolutionary-ILUS-Coin.html

• 5/12/21 – ILUS has successfully negotiated the settlement of the majority of the historic debt/notes, and is currently undergoing audits in order to be fully SEC reporting compliant. Form 10 preparation is underway and the official name change will take place once the Form 10 is in effect. Application submitted to Canadian authorities to lift the Cease Trade Order (CTO) that was applied in 2012 (under the old management).
https://www.globenewswire.com/news-release/2021/05/12/2228428/0/en/OTC-ILUS-ILUS-International-Ilustrato-Pictures-International-Inc- Will-be-Announcing-its-First-Quarter-Results-During-the-Week-Commencing-16-May-2021.html
• 5/20/21 – Q1 results + future plans: Significant milestones achieved. Every significant Key Performance Indicator was exceeded during 2021 Q1, with only 8 weeks remaining in the quarter after Nicolas Link took over as CEO in 1/21. Despite COVID-19 lockdowns for most of Q1, revenue of $500K was achieved with $73K net profit from operations and
$11.8M from investments, despite one-off expenses following acquisitions, which distort the reported figures. Significant revenue increase is expected as travel restrictions decrease and the new strategy implementation shows results. A run rate of between $15-20M is expected by 2021 Q4, and a net profit of 5-10% over the next few quarters (while upcoming acquisitions are made and related costs are incurred). A settlement agreement has been signed with the major debt holder from the old management, thereby eliminating the balance of the toxic debt and restructuring a small portion into long-term non-toxic debt. This involved a repayment and last conversion of only 80M shares on 5/12/21.
https://www.globenewswire.com/news-release/2021/05/20/2233569/0/en/OTC-ILUS-ILUS-International-Ilustrato-Pictures-International-Inc- Announces-Its-First-Quarter-Results-and-Outlines-Future-Plans.html
• 5/26/21 – Global rollout plan for the Mongoose External Firefighting Lance, a world first for compartment firefighting (fires which take place in a room or enclosed structure, under the hood of a vehicle, or in aircraft fuselage).
https://www.globenewswire.com/news-release/2021/05/26/2236576/0/en/OTC-ILUS-ILUS-International-Ilustrato-Pictures-International-Inc- Announces-the-Global-Rollout-Plan-for-Its-Revolutionary-Mongoose-External-Firefighting-Lance-a-World-First-for-Comp.html
• 6/02/21 – Canadian Cease Trade Order (CTO) revoked: Canadians can now buy $ILUS shares.
https://www.globenewswire.com/news-release/2021/06/03/2241436/0/en/OTC-ILUS-ILUS-International-Inc-Announces-That-Canadian- Brokers-May-Now-Trade-ILUS-Stock.html
• 6/07/21 – India update: ILUS’s FireBug appoints India’s largest firefighting vehicle manufacturer, Vijay Fire Vehicles, as its exclusive distributor and an OEM partner for India. Vijay is a recommended supplier to the Indian Government and is adding all FireBug products to the Indian government’s purchasing portal, enabling all government authorities and municipalities to purchase FireBug products at the click of a button. The OEM partnership agreement enables Vijay to integrate components of FireBug’s patented water mist technology into their own solutions.
https://www.globenewswire.com/news-release/2021/06/07/2243009/0/en/OTC-ILUS-ILUS-International-Ilustrato-Pictures-International-Inc- ILUS-Acquisition-FireBug-Appoints-India-s-Largest-Firefighting-Vehicle-and-Equipment-Manufacturer-as-Its-Exclusive-.html
• 6/15/21 – ILUS outlines its US Market strategy. Growth potential for FireBug in the US is astronomical, given that the UK market has delivered $5M/year revenue, while the US market is orders of magnitude larger and the US currently spends
$270B/year on preventing and fighting fire. ILUS’s other acquisitions, TVC and BCD Fire, also both hold significant growth potential through the sale of TVC’s ambulances and BCD Fire’s water-mist kitchen firefighting systems (launching soon), as well as the launch of the E-Raptor electric UTV. ILUS is acquiring a factory in the US where it will manufacture its products for the US market, and is working on 2 acquisitions in the US market in the near future, and more to come.
https://www.globenewswire.com/news-release/2021/06/15/2247431/0/en/OTC-ILUS-ILUS-International-Ilustrato-Pictures-International-Inc- Announces-its-Strategy-for-the-US-Market.html
• 6/23/21 – Acquisition update – closing in on numerous strategic acquisitions: (1) Europe: expecting to close an acquisition in the works for 5 months; will benefit from a joint venture with a specialist vehicle manufacturer and the privatization of a large ex-government manufacturing plant. Strategic importance: will give ILUS access to free trade agreements with Russia, China, and Europe (combined population of over 2 billion people). Immediate market potential: replacement of 400 fire vehicles in the target acquisition country. (2) USA: New factory will be opened in Ocala, FL; lease will be in place by end 7/21 and factory operational by late 8/21. There will be two distribution/support/sales centers set up, one on the East and one on the West Coast.
https://www.globenewswire.com/news-release/2021/06/23/2252029/0/en/OTC-ILUS-ILUS-International-Ilustrato-Pictures-International-Inc- Announces-its-Acquisition-Update-as-It-Closes-in-on-Numerous-Strategic-Acquisitions.html
• 7/01/21 – Q2 milestones update: Anticipating a strong Q3 with several more acquisitions, including one in the US close to completion. The new factory in Dubai is complete and includes a new vehicle superstructure manufacturing division that uses specialist co-polymer plastic to manufacture fire truck and ambulance bodies – the only such plant in the Middle East. The company is actively recruiting new staff. Despite 2 major markets being in lockdown, ILUS generated
$3M revenue in Q2, on target for forecast $15-20M annual revenue run rate by end 2021. Forecast for 2022: $50M.
https://www.globenewswire.com/news-release/2021/07/01/2256779/0/en/OTC-ILUS-ILUS-International-Ilustrato-Pictures-International-Inc- Builds-on-Second-Quarter-Milestones-With-New-Acquisitions-Important-US-Plant-Set-Up-and-Marketing-Drive.html
• 7/14/21 – Acquisition update: Letters of Intent signed for 2 strategic US acquisitions: (1) a Texas-based specialist oil and gas fire system and pump manufacturer, and (2) a Tennessee-based truck bed manufacturer specializing in firefighting brush trucks.
https://www.globenewswire.com/en/news-release/2021/07/14/2263061/0/en/OTC-ILUS-ILUS-International-Ilustrato-Pictures-International- Inc-Signs-Letters-of-Intent-for-Two-Strategic-US-Acquisitions.html
• 7/16/21 – Letter to shareholders: Share Structure update. The full SS update is taking longer than expected to accomplish, but completion is imminent. Some shares will be retired, many millions will be canceled, and a few hundred million will move [to preferred]. The aim is to get the OS to well below 1B in this first phase.

• 7/22/21 – Update: NASDAQ uplist timeline moved up – ILUS is making excellent progress with its uplisting plans, which will be hugely advantageous to shareholders. Should be completed in a significantly shorter timeframe than the originally planned 18 months (aiming for Q1 2022). To be accomplished by an “outside the box” plan which will not follow traditionally prescribed or speculated processes. SS: ILUS is in the process of completing the re-organization of its Share Structure and is following a phased approach, with the goal of achieving an Outstanding Share Structure of well below 1 billion in the first phase. US rollout plans: senior members of the ILUS team will be in the US for the next few weeks to complete several tasks: signing for the new US manufacturing facility in Ocala, Florida and working to complete the targeted acquisitions (LoIs already signed) + meeting with additional new potential acquisitions and recruitment of new US team members.
https://www.globenewswire.com/news-release/2021/07/22/2267658/0/en/OTC-ILUS-ILUS-International-Ilustrato-Pictures-International-Inc- Provides-an-Update-on-Its-Share-Structure-Re-Organization-Up-Listing-Plans-US-Roll-Out-and-Recruitment-Appointments.html
• 7/26/21 – Video podcast by CEO Nicolas Link with details on last week’s PR (https://www.youtube.com/watch?v=zYV5BbLn8r8):
o Share structure update (takes time – weeks or more – as it involves many steps which must be carried out sequentially, including canceling, restricting, retiring and moving shares between categories, including a FEW HUNDRED MILLION of Nicolas Link’s restricted shares from common to a Preferred category)
o Uplist to NASDAQ plan: A Reverse Split is NOT planned. Speculation about a possible spin-off was neither confirmed nor denied, although hypothetically, if it were to happen, they would likely spin off a division with potential to be successful in its own right and which would require the attention of dedicated engineers and distribution teams distinct from those working on ILUS’s core emergency services vehicle / nozzle divisions (such as BCD Fire and the “fixed” kitchen/building fire suppression system). In parallel, the remaining divisions within the parent company would be developed in parallel with their own engineers and marketing and distribution teams. The end result would be a SIGNIFICANT addition of value to both the company and shareholders.
o E-Raptor: Working hard behind the scenes; 2 specialist EV engineers recently hired (one from Daimler-Chrysler) with the goal of bringing it rapidly to market – particularly the US market (construction in the soon-to-be-acquired factory in Ocala, FL, and distribution model with the bi-coastal distribution centers). This will have the potential to directly take on the Polaris 6x6 (there is currently no EV in that space) and to eventually be marketed via every Polaris and John Deere distributor in the US.
o US Strategy: 2 acquisitions nearing completion after DD and signing of Letters of Intent; the team will be traveling shortly to the US to bring the contracts to fruition. Hiring of staff for the Ocala, FL factory. Strategic plan: First 6 months, assemble in the Ocala factory components manufactured in Dubai, and distribute in the US through one of the two new acquisitions; After the first 6-month period: Use the existing facilities of the 2nd acquisition to manufacture the parts from scratch. Between 6-18 months, distribution centers will be set up on the East and West coasts, and also in the central industrial zone (perhaps Chicago?).
• 8/4/21 – Appointment: Pawel Zbrozek appointed as Senior Product Manager for fixed fire systems. Pawel is a seasoned R&D engineer with more than 20 years’ professional working experience in fixed fire systems, primarily with water mist, gas, and condensed aerosol systems. Pawel will be responsible for completing the testing and certification of ILUS’ Water-Mist Kitchen Fire Suppression Systems and Battery Compartment Suppression Systems, and will lead the ongoing development of the company’s fixed fire system solutions.
https://www.globenewswire.com/news-release/2021/08/04/2274499/0/en/OTC-ILUS-ILUS-International-Ilustrato-Pictures-International-Inc- Appoints-Experienced-Senior-Product-Manager-for-Fixed-Fire-Systems.html
• 8/11/21 – Contract update: ILUS acquisition BCD Fire (fixed fire systems) secures 3 new contracts in the UAE in the last 6 weeks (Q3 2021), valued at over $1.5M: (1) Supply and installation of fire systems for a commercial tower in Dubai (which will be the world’s tallest commercial tower when completed – see Speculation under Deals, Contracts and Purchase Orders below), with the 1st phase worth ~$1M; (2) Fire systems for a residential building on the upmarket Dubai Hills Estate in Dubai, worth $426K; and (3) New fire systems for Emirates Hospital in Dubai worth $141K, although ILUS is bidding for additional installations and an ongoing maintenance contracts. All three contacts have potential for significant expansion.
https://www.globenewswire.com/news-release/2021/08/11/2278972/0/en/OTC-ILUS-ILUS-International-Ilustrato-Pictures-International-Inc- Acquisition-BCD-Fire-Secures-Three-New-Contracts-in-the-Third-Quarter-of-2021-Valued-at-Over-1-5-Million.html
• 8/13/21 – Strong Q2 results: The company attained significant milestones and achieved revenue of $2.86M – a 462% increase over Q1 revenue of $509K; gross profit of $992K – a 375% increase over Q1 profit of $209K; increase in assets to
$24.5M and increase in cash reserves.
https://www.globenewswire.com/news-release/2021/08/13/2280634/0/en/OTC-ILUS-ILUS-International-Ilustrato-Pictures-International-Inc- Announces-Strong-Second-Quarter-of-2021-Results.html



Financials

• 2019 Q3, Annual: Submitted 3/10/21 (old management financials)
• 2020 Q1, Q2, Q3, Annual: Submitted 3/10/21 (old management financials)
• 2021 Q1: Submitted 6/6/21 (ILUS International, new management). Revenue: $508K. Gross profit: $209K. Net profit (operations): $73K. Net profit (investments): $11.8M.
• 2021 Q2: STRONG Q2 results – Revenue: $2.86M (462% increase over Q1). Gross profit: $992K (375% increase over Q1). Increase in assets to $24.5M and increase in cash reserves.
• 2021 Q3: Strong quarter anticipated
• 2021 Annual: Projected annual revenue run rate: $15-20M
• 2022 Annual: Projected annual revenue run rate: $50M


Share Structure

• 4/5/21 – Letter to Shareholders: ILUS’s goal has always been to maintain a tight and liquid share structure for its shareholders. While the company did not permit or authorize the converting of any stock, after becoming current, an old restricted noteholder (from when the company was under the old management) was permitted to convert their notes by the TA – unknowingly to the new management and without its authorization. An investigation by the ILUS legal team uncovered that in past years, an Automatic Conversion Agreement had been signed between the Transfer Agent and a restricted noteholder allowing them to convert without ILUS management’s authorization. The current management apologizes and wishes to make clear that they were not aware of these agreements and were very disappointed and perturbed by this situation, after all the hard work that had gone into becoming current, and in vew of the entire financing agreement having been set up to avoid dilution and provide the company the opportunity to buy back shares (which it intends to do). With the company’s aggressive share buyback plans, the last thing they wanted was for more shares to be issued. Nicolas Link’s holding company holds 390M Common Shares, all of the Preferred A Shares (10M), all of the Preferred D shares (60,741,000), and all of the Preferred E shares (3,172,175), and has not sold nor have the intention of selling any. A small tranche of restricted shares will be issued to use for staff as an incentive plan to motivate and align the staff's interests with the shareholders.

• 6/20/21 – Letter to Shareholders

o Dilution update: Companies that provide capital also need to make a significant return to make up for the failed project that they have supported, without fully knowing which ones will work out. It is sad, but true that the success rate for funders is very low. Usually, less than 3 out of 10 companies make a return for their funders. Funders are extremely important to the entire liquidity of the market and if they did not exist or did not make money, there would be no OTC market or any other public market for that matter. Therefore, while nobody wants funds to have shares and to sell shares, this is a critical part of the entire liquidity ecosystem (stock market). With that said, this does not mean that aggressive selling should ever be done or tolerated. It is vital that companies can raise capital and it’s even more important that they invest this capital wisely to grow and add value. IF a company is selling some shares to raise capital and using the capital to grow and acquire assets, that will ultimately add value to the shareholders in the long term and this is EXACTLY what the public markets are for and exactly why companies go public. Companies sell shares which equals money which facilitates growth which results in added value. Conversely, companies that don’t sell shares struggle to raise money which lends itself to little or no growth and therefore no value added. The critical part is the method and speed in which these plans are executed. This understandably is the issue that ILUS faced, where shares were aggressively sold behind the new management’s back when the company was not prepared for this. This is now under control. ILUS is aware that GPL (Alexander Dillion) has a certain “reputation” in some circles. GPL has undoubtedly been funding high risk companies for years and one needs to recognize that the majority do fail. Sadly, many OTC companies possess very little substance or longevity and given the “pump and dump” culture of the OTC, funders are sometimes forced to be more aggressive on OTC companies which do not deliver, in order to salvage their position and recover the funding they have laid out. Funders will be aware that such companies are not going to be around for a long time and they have a limited window within which to recoup their investment. It is the nature of convertibles that when they are done properly for the right reasons and with the right strategy, as well as with non-toxic conversion terms, they are one of the best forms of financing. However, when they are done with companies that underperform or the strategy is flawed with toxic terms, they can quickly become a financial death spiral. We began in that toxic scenario but after those initial conversions, this was quickly turned around and locked down. Consequently, GPL became confident in ILUS’s

long-term plan and the strength of the shareholder base, and were happy to negotiate satisfactory terms for settlement, and have signed a written contract to this effect.

o Converted note selling update: ILUS believes that the noteholders have divested all their stock by now, the last conversion having been 80M shares, by which time they had already sold their previous stock. It is therefore expected that the latest 80M has already been sold by now as well. Of course, this volume inevitably had an impact, but ILUS strongly expects that the real damage was done when a party converted 63M shares from restricted to unrestricted without notifying the management; coincidentally or not, this occurred in the same week that the stock price crashed. ILUS is working very hard to soak up the excess float with family offices and large private investors, who are accumulating the dips. This appears to be taking effect and it appears that the float is being locked up.

o Share structure update: ILUS is reorganizing the Share Structure with the Trading Authority at the moment – retiring some shares, changing some stock from Common to Preferred shares, and making a few other clean ups that will published shortly. At that point, the Share Structure will update on OTC Markets and is expected to show a reduction from the last update.

• 6/7/21 – Letter to Shareholders (Share buybacks update from CEO Nicolas Link): “Buybacks are a sensitive topic for all and this should not be mistaken as a temporary squeeze to push the price up to give retail investors a chance to sell at a quick profit. Spending cash on growth creates long-term value but spending money on buybacks in a defensive situation creates a short-term unsustainable price rise. This could be costly to our business and we are focused on nurturing the company fundamentals and growing a healthy business. Conventional buybacks work well when the company is intrinsically strong, growing and on a strong long term upward curve regardless of the buybacks. It is then highly effective for all investors to implement buybacks. Buybacks in a defensive situation would only benefit the short-term investor. We are focused on building our business for the long-term and creating a business that will deliver significant returns over time. The creation of true value takes time and there is no shortcut. Our buyback strategy is very much aligned with this approach. We must get the basics right first, soak up the excess stock with family offices and institutions to create that sustainable growth and organic forward momentum and then buybacks could be considered in order to really make a long term sustainable difference.”

• 7/16/21 – Letter to shareholders, interim update on SS reorganization & 7/22/21 – Shareholder update: The full SS update is taking longer than anticipated, but completion of the first phase is imminent. The SS will not be updated on OTC Markets until completion, as it would not reflect the full picture. To summarize what is in process: Some shares will be retired, many millions will be canceled, and a few hundred million will move [likely to the newly created Preferred F shares]. As mentioned in previous communications, some restricted stock will be allocated for past acquisitions and as incentive to staff. Legal opinion/approval is pending on the offering of a dividend-paying preference share to shareholders who wish to lock up their shares for the long term, thereby acting as an interim quasi-buyback. The aim is to get the OS to well below 1B in this first phase, with the goal of cleaning up the stock in preparation for ILUS’s longer-term strategy to have greater effect.

• 7/26/21 – Video podcast by CEO Nicolas Link: The share structure update involves many steps which must be carried out sequentially, including canceling, restricting, retiring and moving shares between categories, including a FEW HUNDRED MILLION of Nicolas Link’s restricted shares from common to a Preferred category. By way of example – to move a few hundred million of Nick's shares from restricted to Preferred (which he is doing willingly), an exchange agreement needs to be done by the company's attorney; then, Nick's personal attorney, a tax attorney, and a CPA need to look through it; then the TA needs to make sure it meets all the requirements. All this is being done by people on different continents in different time zones, which does not simplify matters. Then, the documents need to be issued and sent to the TA, who may also have comments and ask for changes before actually physically executing. This is for someone doing this willingly (Nick); for someone who is not willingly doing it (but has been convinced to do so) and is not necessarily as eager to get the process done quickly, it obviously takes even longer. The entire process can take weeks, even beyond a month. All this is being done for the long-term interest of the company and the shareholders, and the end result will show an OS reduction to WELL UNDER 1 BILLION shares.

• 8/10/21 – Shareholder update: The aim is to release the SS update by the end of next week. Regarding recently released court documents: This is an administrative process for the cancelation of 40M shares which were issued for a 2019 deal which never completed (old management – see 2020 filings). The shares cannot be traded or deposited. This represents only part of the SS update process.



Uplist Plans

• 1/27/21 – Letter to Shareholders: The corporate entity of ILUS is being cleaned up: name update, branding, profiles, records, filings, financials, and bringing of corporate governance up to international standards. This will allow ILUS to first become fully reporting, followed by uplist to OTCQB, and then to look for an uplist to a major exchange as soon as possible, thereby allowing it to attract larger institutional funding.

• 7/8/21 – Letter to Shareholders: Over the past 3 months, the share structure and price action did not help the planned timeline for uplisting (which was initially set with an expectation of 18-24 months). ILUS does, however, have a clear strategy around this. While details cannot be revealed about the strategy at this point, ILUS assures shareholders that it is a solid and credible, out-of-the box plan, which is not obvious to most, but is safe and will benefit shareholders substantially. ILUS reiterates that efforts will be made to achieve uplisting without a Reverse Split, as has been said previously. Currently, ILUS is working toward being fully SEC reporting ASAP. The historic audit is problematic (as it involves the finances of the old management) and is causing delays, although everything will be completed as required. The Form 10 and name change to ILUS International can only take effect after this step will have been completed.

• 7/22/21 – Update: NASDAQ uplist timeline moved up – ILUS is making excellent progress with its uplisting plans, which will be hugely advantageous to shareholders. Should be completed in a significantly shorter timeframe than the originally planned 18 months (aiming for Q1 2022). To be accomplished by an “outside the box” plan which will not follow traditionally prescribed or speculated processes.

• 7/26/21 – Video podcast by CEO Nicolas Link: A Reverse Split is NOT planned – that would have been “the easy way out” and would already have been done, had that been the intention. There has been speculation lately about a possible spin-off to advance the goal of uplisting: this was neither confirmed nor denied. However, it was addressed hypothetically (see speculation below): if ILUS were to adopt this approach, they would likely spin off a division which has the potential to be successful in its own right and which would require the attention of dedicated engineers and distribution teams distinct from those working on ILUS’s core emergency services vehicle / nozzle divisions. In parallel, the remaining divisions within the parent company (the mobile Emergency Response services – firetrucks, mist nozzle, etc.) would be developed with their own dedicated engineers and marketing and distribution teams. Such an approach would NOT be adopted for the wrong reasons, such as “cleaning up” of the share structure by moving all the valuable assets to a clean shell and letting the parent company “die”. Should this approach be adopted, it would be done properly and for the right reasons in a way that would provide added value to the company and SIGNIFICANT added value to the shareholders.



Spin-Off Plan?


In discussing the case for a hypothetical spin-off from ILUS in the PR video of 7/26/21, Nicolas Link highlighted a number of the different divisions and parts that today sit within the ILUS group, some of which are fully integrated with the others, while others are very distinct and would in principle be better off being managed and run independently. Below is a rundown of the various subdivisions of ILUS, with the case for spin-off being presented for each where relevant:

A. Emergency Response division

This is the “core” ILUS business, which is the current FireBug technology as we know it now (MistMax, MistNozzles, Mongoose, floating pumps, alpha pumps...) – a whole range geared around emergency services. These fall under the division encompassed by the "Emergency Response" products logo (see below under FB Technologies Global Inc.). It has always been the goal that all those response vehicle products (emergency response fire and rescue products – the life- saving "portable" devices) would be put into the Emergency Response subsidiary within ILUS. This will clearly remain as the main focus of the parent ILUS company.

B. Fixed Suppression System

Using the same technology, ILUS has the fixed suppression system (BCD Fire), which is still in its infancy in terms of commercialization -- although the technology and products themselves are NOT in their infancy, after having gone through a long period of R&D and development; they were just put on a back burner until the emergency services business was developed. Until now, it's been the same people, engineers and marketing staff working on both series of products (emergency response and fixed system). However, as the emergency response business now grows globally, those people don't have the time to spare to put into the fixed suppression business. The fixed system requires an entirely different skill set, and while the mist technology and discharge are indeed the same, it's totally different behind the scenes: the design, approval, certification, and installation is on-site work which is much more project-oriented and works through a different sales channel, with integrators and facilities management companies. Ultimately, the fixed system fire suppression business is HUGE: it is potentially every building in the world. This line is currently ready to enter the certification stage. To this end, ILUS has recently employed a product specialist with significant experience developing fixed systems, particularly with regard to the certification process, and who has already handled the certification of a large number of fixed system products globally, including in the US, EU, Russia and more.

C. Dust Suppression System (future)

Another potentially huge market is dust suppression, which is becoming more and more of an issue globally, with applications at construction sites, in factories, food processing plants, power stations, mines, and other sites where a lot of dust is produced. The dust created in these environments can be damaging to equipment and humans, or even be explosive, ultimately creating a fire and explosion risk. The technology used for this mirrors the fire suppression technology, in that the easiest way to currently deal with the dust problem is by spraying chemicals that bond the dust particles together to form a more solid substance that can be removed. These methods are costly and are not sustainable or environmentally friendly. ILUS technology offers an alternative without the chemicals, in a much more cost-efficient and environmentally friendly way (the ILUS-developed technology involves electro-charging the droplets to create stronger bonds between the dust particles to be removed). ILUS has done R&D and preliminary rudimentary testing in this area, although they are not currently in this space commercially, and the initial trials have shown that the ILUS technology DOES work as a solution to this problem. This is on ILUS's product list for the future, although this will likely be a few years down the road and is dependent on the company's structure and financing ability, and particularly the people involved. So this could potentially be an entire product on its own, but born out of the same technology – although the business model would not work with the fixed fire suppression system or the emergency response department: they are completely different, with a different route to market, different design, different certification; the only thing that is the same is the "heart" of the product, the actual technology.



D. E-Raptor EV Utility Vehicle

In ILUS’s current range of products is the E-Raptor, on which ILUS has intentionally gone quiet over the last month or two, all the while working extremely hard behind the scenes. ILUS is in the process of hiring two specialist EV engineers, one of whom has been working for Daimler-Chrysler (and who actually worked on an electric firetruck for a major manufacturer in Europe), and the other is a specialist in battery technology. The aim is to bring the E-Raptor RAPIDLY to market, particularly in the US market. This is closely linked to the idea behind the new factory and the distribution model in the US. The E- Raptor was originally developed for ILUS's fire services demands, as a small emergency response (fire/ambulance) vehicle. However, when this vehicle becomes good enough (with the help of these new experts) and receives certification, it has the potential to directly take on the Polaris 6x6 ATV – there is no electric EV in that space at the moment. The technology ILUS has developed so far in the E-Raptor is very good, but it was developed for the specific purpose for which ILUS needed it; it should not take a lot to get it where they need it to be to become a commercially viable electric UV product. So in the US, the E-Raptor could potentially be in every Polaris or every John Deere distributor nationwide. A move toward electric in this sector is inevitable, be it in the next 5, 10 or 20 years, and ILUS has the potential to be first in this space with the E-Raptor. So this product is another one in its infancy, and if you look at the bigger picture, this product is almost in the automotive space – as a specialist EV UTV. If this is to be sold through vehicle distributors, how does that fit with fire suppression and with emergency response vehicles? Which division would that business fit in?

E. TVC (The Vehicle Converters)

If you look at TVC, an ILUS acquisition, all ILUS really needs for the FireBug product range is perhaps 60-70% of TVC (for the emergency vehicles, rapid response vehicles and small military vehicles); the other 30-40% is food trucks and industrial mobile vehicle conversions. This doesn't fit with fire suppression, and ILUS doesn't want to go to NASDAQ making food trucks... So at some point, that food truck business must be spun off and offloaded.


Speculation

The above summary of how the ILUS subdivisions fit together, as provided by Nicolas Link, hints at a multi-year strategy of MULTIPLE spin-offs from ILUS, which would create independent companies out of ILUS divisions with the potential to stand on their own and which would benefit from a distinct team of engineers, marketing and distribution approaches. The division with the most spin-off potential at the moment appears to be BCD Fire (with the fixed suppression systems), followed by E-Raptor (or at least a breakaway EV UTV division of E-Raptor to compete against the Polaris 6x6 ATV in the UV sector, by being the first EV vehicle in the sector). The sub-division of TVC which is not relevant to ILUS’s fire suppression focus could be spun off if it were big enough to stand on its own, or more likely, sold off to another company. The dust suppression system – with a potentially huge market – would probably be a good spin-off candidate when the time comes (a number of years down the road).



Acquisition Strategy

ILUS’s acquisition strategy includes the aggressive acquisition and consolidation of companies that fit its strategic modus operandi and its core mission of delivering innovative and disruptive technology which protects and saves lives. ILUS has a three-pronged acquisition strategy and is conducting thorough due diligence on, and negotiating with, potential acquisition candidates that satisfy the following objectives:

I. Acquisitions that will add to ILUS’s manufacturing footprint and global production capacity, since many of its key markets require or prefer local manufacturing capability instead of importing.
II. Companies with well-established brands and routes to market in specific sectors, which will exponentially speed up the penetration of the ILUS product range into those markets or sectors.
III. Companies that have a technological advantage, where the target company will contribute significant innovation to the ILUS group of products or wider strategy. Technology additions are focused on the public safety sector and include software solutions with significant Artificial Intelligence (AI) capability, IoT technology including wearable tech, and disruptive drone technology.

Mergers and Acquisitions

1. FB Technologies Global Inc.

Website: https://fbtech-global.com Email: info@firebuggroup.com
Acquired by ILUS International on 1/26/21 with its integrated divisions (FireBug and E-Raptor)
FB Technologies Global Inc. (aka FireBug Group) is a holding company for the ILUS group’s Fire & Vehicles divisions. It is 100% owned by ILUS International, a public company strategically acquiring and operating technology businesses around the world within specific core sectors where the potential of the group’s technology platforms, skills, experience, and manufacturing bases can be maximized and shared.
The group's technologies are focused around modernization, cost efficiency, and solving the modern problem of cities growing larger and more congested with more demand for clients to perform more, more quickly, in more difficult conditions, and with better environmental practices – all at a lower cost.
ILUS Divisions integrated under the FireBug Group:

• FireBug
• E-Raptor Utility Vehicles

• Emergency Response Products



• TVC – The Vehicle Converters



FB Technologies Global Inc. (FireBug Group) Divisions:

A. FireBug
Integrated as a division under FB Technologies Global Inc. prior to its acquisition by ILUS International on 1/26/21.

FireBug, a UK company, manufactures and supplies high quality water mist firefighting equipment and cutting-edge technology to Fire & Rescue Services and Original Equipment Manufacturers.

Committed to the research and development of unique technologies for the firefighting industry, through a dedicated R&D program, the company specializes in harnessing the power and simplicity of high-tech disruptive water mist technology in the extinguishing of all fires, including class B and class F fires, while offering firefighter safety with reduced water consumption.

The product range includes customized fire vehicle bodies built to order, the RescueMax UTV firefighting vehicle, the MistMax range of firefighting skid units, floating pumps and strainers, the BacPac portable water mist fire suppression kit, the MistNozzle firefighting nozzle series, the Mongoose Attack Misting System, and more.

FireBug products are distributed through the United Kingdom, the Middle East, Europe and the Africas.

B. E-Raptor Utility Vehicles
Integrated as a division under FB Technologies Global Inc. prior to its acquisition by ILUS International on 1/26/21.

Website: https://raptor-utv.com E-mail: info@raptor-utv.com
Tel (Dubai): +971 4 345 3452

The E-Raptor is the world’s first electric 6-wheel utility vehicle, using the most advanced battery technology mated to a refined automatic gearbox. Thanks to its Spiral Sprung Suspension Technology, it is silent, smooth and easy to drive with excellent power and torque, and gets an 80-km range on a single charge. Reliable and trustworthy construction and easy maintenance make it suitable for most industrial and agricultural applications, with the E-Raptor offering the highest payload (up to 1,200 kg) and lowest operating costs in its category.

Available in yellow or red as standard (with other colors on special request), the E-Raptor is fully customizable by vehicle integrators. It is commonly customized into firefighting, medical, and maintenance/utility vehicles.

C. TVC – The Vehicle Converters
Acquired by ILUS International on 2/4/21 and integrated as a division under FB Technologies Global Inc.

Website: https://thevehicleconverters.com E-mail: info@thevehicleconverters.com
Tel (Dubai): +971 4 320 7572, Mobile: +971 50 272 8764

The Vehicle Converters fabricate and convert specialized vehicles. Over 8,000 vehicles have been successfully converted to date.

The Vehicle Converters LLC (TVC) is a specialist manufacturer and converter of service vehicles. Its manufacturing capacity includes a fabrication site with a 4,500 ft2 production workshop and a 30,000 ft2 assembly site for mass production with the capacity for up to 7 assembly lines, with the assembly capability to scale up production of the ILUS E-Raptor. The TVC and FireBug factories merged into a single facility in Q2 2021. There is large demand for ILUS & TVC products in the MENA (Middle East-North Africa) region, including potentially the huge NEOM city/region project in Saudi Arabia.


2. BCD Fire – Bright Concepts Detection & Protection LLC
Acquired by ILUS International on 4/13/21 as a separate entity. Website: https://bcd-fire.com
E-mail: info@bcd-fire.com Head Office: Head Office 402
AB PLAZA 8, Al Mamzar Dubai, UAE

BCD Fire is a leading systems integrator and installer of Fire, Access and Security systems across the UAE. The company delivers turnkey projects which incorporate specification, design, installation, support, and maintenance for customers ranging from small single site operations through large multinationals, and has worked extensively on large hotel, resort, and industrial projects in the region. BCD Fire works with existing fire system installations, including upgrading, replacement, and/or system support.

The ILUS WaterMist Kitchen System, which integrates BCD Fire’s commercial kitchen fire suppression systems with ILUS’s patented WaterMist technology, will soon be launched to market.


Potential spin-off?

7/26/21 – Video podcast by CEO Nicolas Link: Speculation about a possible spin-off to advance the goal of uplisting was neither confirmed nor denied, but was addressed hypothetically. If ILUS were to adopt this approach, they would likely spin off a division which has the potential to be successful in its own right and which would require the attention of dedicated engineers and distribution teams distinct from those working on ILUS’s core emergency services vehicle / nozzle divisions (such as BCD Fire and the “fixed” kitchen/building fire suppression system). In parallel, the remaining divisions within the parent company (the mobile Emergency Response services – firetrucks, mist nozzle, etc.) would be developed with their own dedicated engineers and marketing and distribution teams.


3. Future acquisitions and Letters of Intent

• 6/23/2021 Acquisition Update – ILUS is closing in on a number of strategic acquisitions:
o Europe: Expecting to close shortly an acquisition on which it has been working for the past 5 months [see 8/10/21 shareholder update below: this deal is astronomical in scale; see Speculation on next page]. The acquisition will benefit from a joint venture with a specialist vehicle manufacturer and the privatization of a large ex-government manufacturing plant. This acquisition is of significant strategic importance, as it will give ILUS access to a combined population of over 2 billion people via free trade agreements with Russia, China, the EU, and Eastern Europe. Immediate market potential: replacement of 400 fire vehicles over the next few years in the target acquisition country in order to bring their fleet up to the European EURO 6 standards.
o USA: A lease will be in place by the end of July for a new factory in Ocala, FL; the manufacturing facility will be in operation by late August 2021. This will be accompanied by two smaller distribution/support/sales centers, one on the East and one on the West Coast. The West Coast facility will place heavy emphasis on wildfire technology. Potential acquisitions in the US are in the late stages of due diligence and deal structuring. As with ILUS’s previous acquisitions, these will not be standalone acquisitions, but rather will form part of the larger us and global strategy.
o Australia: Plans are underway to replicate the US rollout in the Australian market, which faces similar wildfire challenges.
• 7/14/2021 Acquisition Update – Letters of Intent signed for the acquisition of 2 strategically aligned US companies, which will add US-based manufacturing and distribution capability and will recruit key US-based team members for sales, marketing and manufacturing:
o A Texas-based specialist oil and gas fire system and pump manufacturer with a large facility housing complete design, manufacturing and fabrication facilities, and which achieved $8M revs in 2020; the facility is in proximity of the renowned Texas fire training academy TEEX, which will serve for the testing and demonstration of ILUS products
o A Tennessee-based truck bed manufacturer specializing in firefighting brush trucks with its own manufacturing facility. The company’s products have proven popular across the US, with many customers sending their vehicles to Tennessee to be fitted. ILUS will incorporate its innovative plastic body manufacturing and pump and nozzle technology, thereby improving its fire and rescue capability. 2020 revs: $2M.

• 7/26/21 – Video podcast by CEO Nicolas Link: The 2 new acquisitions are nearing completion after DD and signing of Letters of Intent; the team will be traveling shortly to the US to bring the contracts to fruition. According to ILUS’s strategic plan, during the first 6 months, components manufactured in Dubai would be assembled in the new Ocala, FL factory, and distributed in the US through one of the two new acquisitions. After the first 6-month period, the existing facilities of the 2nd acquisition would be used to manufacture the parts from scratch (this should be possible with minimal modifications, as they already manufacture similar parts).

• 8/10/21 – Shareholder update: ILUS is in the final stages of closing 2 of the 5 acquisitions currently in progress: Four in the US and one in Europe. The European deal is astronomical in scale (see Speculation on next page), and excellent progress has been made. Final negotiations are underway with the two companies mentioned in previous communications (Texas and Tennessee), and ILUS is in discussions with two additional potential US acquisitions, in Florida and Georgia (both targets delivering strong revenue).


Speculation

In a shareholder update and and video podcast, Nicolas Link has said the EU deal being worked on would be “astronomical in scale” and, if closed, would bring ILUS “into the stratosphere”.

Consider the following:

Nicolas Link and the ILUS team met on numerous occasions over the past several months with Shaji Ul Mulk, the multi-billionaire CEO of the multinational Mulk Holdings.

Mulk Holdings currently holds worldwide manufacturing and distribution rights of Alubond USA (a group company of Mulk Holdings), which is the world’s largest metal composite brand.

In a strategic expansion plan, Mulk Holdings established Alubond Europe in Serbia, with a 2 million m² capacity. This facility is focused on catering to the established European market of 40 countries with Russia and other nearby countries. Alubond also has ties to China, India, Sri Lanka and Saudi Arabia.

Per the 6/23/21 shareholder update, “the EU acquisition will benefit from a joint venture with a specialist vehicle manufacturer and the privatization of a large ex-government manufacturing plant. This acquisition is of significant strategic importance, as it will give ILUS access to a combined population of over 2 billion people via free trade agreements with Russia, China, the EU, and Eastern Europe. Immediate market potential: replacement of 400 fire vehicles over the next few years in the target acquisition country in order to bring their fleet up to the European EURO 6 standards.”

Serbia (where Mulk’s European holdings are based) has free trade agreements with the EU, Russia, and other nearby markets.

All this points to the “astronomical EU deal” involving Mulk Holdings / Alubond, giving ILUS reach into the entire EU, Eastern Europe, Russia, China, India and other countries in the Middle East.


Strategic Partnerships

1. Milanion

Website: https://milaniongroup.com E-mail: sales@milaniongroup.com

The Milanion Group is a market leader in the design, development, and manufacture of unmanned autonomous systems. Products include:

• The Agema Unmanned Ground Vehicle (UGV), a fully amphibious vehicle designed to operate in a diverse spectrum of environments. The Agema has the ability to be teleoperated or used autonomously.
• The Milanion Unmanned Surface Vessel (USV) for maritime missions of information, surveillance, target acquisition and reconnaissance.

2/2/21: ILUS signed a memorandum of understanding to form a strategic partnership with Milanion Group LLC, with the aim of integrating ILUS fire equipment technologies into Milanion Agema Unmanned Ground Vehicle (UGV) autonomous vehicles (with Civil Defense and Military applications), and of integrating Milanion autonomous technology into the ILUS E- Raptor electric utility vehicle as part of ILUS’s IOT strategy. This would result in the creation of an affordable autonomous vehicle for tasks such as airport perimeter or oil pipeline surveillance, where the autonomous E-Raptor will be fitted with a smart camera using AI, in addition to its firefighting system. Such a vehicle could identify security risks or, in the case of a fire, extinguish it remotely. This opens doors for ILUS into the defense and oil & gas sectors.

4/29/21: ILUS and Milanion announced a rollout plan for the ILUS Unmanned Firefighting Vehicle (UFV), a revolutionary autonomous firefighting vehicle based on the existing Milanion Agema UGV platform, which can also house a deployable drone (UAV) to provide aerial surveillance.

6/20/21: Shareholder update from CEO Nicolas Link: “There currently are several quotations out to customers for the Autonomous Fire Vehilce for order pending successful demonstrations. The arrangement is that Milanion provides the vehicle at their cost with a defined margin included and we provide our equipment including our defined margin, and the balance of the profit on the entire sale is shared on a 50/50 basis.”

2. Future strategic partnership

German Unmanned Aerial Vehicle (UAV) company: Firefighting drones with FireBug tech – Q3 or Q4 2021

4/6/21: ILUS Q1 progress update: ILUS International confirmed that they are close to signing an agreement with a German Unmanned Aerial Vehicle (UAV) Company which will enable them to roll out Firefighting Drones complete with FireBug’s technology, suitable for wildfire fighting. The company hopes to deliver this innovative technology to market by Q3 or Q4 2021 and will release more information once the agreement with the German company is signed.




Deals, Contracts and Purchase Orders


1. India

4/5/21 – Letter to Shareholders: Multiple orders are in production for ILUS’s distributor in India: EV Rapid Response Vehicle for DIFC (Dubai Financial Center); Order for the United Nations; Pump sets for two UK fire brigades; Pump sets for a Dubai trading company; Two ambulances for a hospital in Abu Dhabi; Fire vehicle equipment upgrade for a large mall. The sales pipeline captured in Q1 2021 was over $5M, of which it is hoped 50% can be converted into orders for delivery in Q3 & Q4 2021.

6/7/21 – Press Release (India update): ILUS’s FireBug has appointed India’s largest firefighting vehicle manufacturer, Vijay Fire Vehicles, as its exclusive distributor and an OEM partner for India, with the aim of expanding its distribution networks and developing new partnerships. Vijay is a recommended supplier to the Indian Government and is adding all FireBug products to the Indian government’s purchasing portal, which will enable all government authorities and municipalities to purchase FireBug products at the click of a button. The OEM partnership agreement enables Vijay to integrate components of FireBug’s patented water mist technology into their own solutions. FireBug and Vijay are also collaborating on the development of an all-electric rapid response firefighting vehicle for the Indian market, based on ILUS’s E-Raptor Electric Utility Vehicle platform. With pollution in India being a major concern for the Indian government, the shift toward electric vehicle solutions is taking place rapidly and the Vijay electric rapid response firefighting vehicle is already in high demand from the government, airports, and manufacturing sectors.

8/10/21 – Shareholder update: Significant progress has been made by FireBug’s exclusive distributor in India, Vijay Fire, with two recent purchase orders, as India begins to shift out of strict COVID lockdown.

2. BCD Fire

7/9/21 tweet by @OTC_ILUS – Working on a contract for BCD Fire.






8/10/21 – Shareholder update: BCD Fire has been awarded three contracts in Dubai with a total value of over $1.5M. 8/11/21 – PR: BCD Fire (fixed fire systems) secures 3 new contracts in the UAE in the last 6 weeks (Q3 2021), valued at over
$1.5M: (1) Supply and installation of fire systems for a commercial tower in Dubai (which will be the world’s tallest commercial tower when completed – see Speculation below), with the 1st phase worth ~$1M; (2) Fire systems for a residential building on the upmarket Dubai Hills Estate in Dubai, worth $426K; and (3) New fire systems for Emirates Hospital in Dubai worth $141K, although ILUS is bidding for additional installations and an ongoing maintenance contracts. All three contacts have potential for significant expansion.

2. FireBug

8/10/21 – Shareholder update: FireBug has received various purchase orders, including with a new tender of significant value released for FireBug’s floating pumps.

Speculation [CONFIRMED in video podcast of 8/12/21 - https://www.youtube.com/watch?v=ntbbxwBTVGc&t=118s]

BCD Fire has received a contract for the supply and installation of a building fire safety system, including fire alarm panels and detectors, a central battery system, and a fire sprinkler system, for a commercial tower in Dubai, which will be the world’s tallest commercial tower when completed. The BCD team is working under the main contractor for this project and has already commenced work on the first phase of the project, with a contract value of just under $1M. This contract has potential for significant expansion.

The building in question has not yet been identified, although based on the description, it would be a plausible assumption that the building is Tower 1 in the Uptown Dubai project, which will be added to Dubai’s International Free Trade Zone. The project is under construction and Tower 1 is slated to be 711 m (2,333 ft) tall with 115 floors. Foundation works for the tower were completed in 2018 and as of early 2020, the 20% completion milestone was passed. Confirmed in video podcast of 8/12/21 that the building in question is the Burj 2020, aka Tower 1 of the Uptown Dubai project.





Expansion Plans

1. Oil and Gas Sector (6/20/21 Letter to Shareholders)

The Oil & Gas Sector is a significant focus area for ILUS’s next phase of growth. Many ILUS products have been designed with this in mind, and TVC is on many preferred supply lists of Middle Eastern Oil & Gas companies:
• ILUS is aiming to develop an ATEX-approved range of products leading with an ATEX version of the E-Raptor, the only small ATEX vehicle of its type in the world (aim: to complete and have certified by 2022).
• ILUS fixed system products are very much aimed at the Marine and Oil & Gas sectors where in some instances, water mist is the only prescribed solution. Development of a solution for spark detection and extinguishing is under consideration. In certain sectors, such as the steel industry or timber mills, extraction ducts suck away the dust and debris, which sometimes contain hot glowing embers which get sucked along a duct in a dry and dusty environment, thereby causing a moving fire. The solution to this problem is to detect the sparks or glowing embers which are moving along the duct and initiate extinguishing a few meters ahead. Spark detection technology already exists in the open market, but the extinguishing connected to these systems is generally very weak. Using ILUS’s WaterMist will enable the rapid cooling and extinguishing of such duct fires (aim: to have a commercially ready product by late 2022).

2. Marine Sector (7/8/21 Letter to Shareholders)

The marine sector is a big focus for ILUS, which has designed several technology parts for a specialist project called the “Floating Seahorse” in Dubai. These are very high-end floating houses which require a unique and effective fire suppression system that will not cause excess damage to the properties or their contents. ILUS intends to roll out this technology into the marine sector. Additional products being pushed into the marine sector include the Mongoose, for the safe extinguishing of shipping container fires, and more mobile versions of the MistMax – with the first version, the Alpha pump, being almost ready for market.

3. Insurance Companies and Training Institutions/Laboratories (7/8/21 Letter to Shareholders)

ILUS has had numerous demonstrations with insurers and continues to work hard with insurers and technology specifiers. The work with insurers and specific industry regulators is an endless task and vital in product adoption, which is why ILUS likes to work with major training institutions or laboratories, such as TEEX (Texas A&M Engineering Extension Service). They help to endorse and provide credibility to ILUS technology, thereby allowing insurers to take the products seriously (insurers sometimes have a predetermined view on new disruptive technologies and are often nervous to endorse change from previously calculated risks). That said, their goal is of course to reduce claims, and water damage is one of their most significant claim pay-outs when it comes to fire. Thus, reduction of fire as well as water damage by using ILUS products could lead to a significant cost savings for the insurers.

4. Entry into international markets (6/23/21 Press Release)

• Europe – ILUS is currently engaged in the final stages of discussions in Europe, where it expects to complete an acquisition on which it has been working for nearly five months. This acquisition will simultaneously benefit from a Joint Venture with a specialist vehicle manufacturer and the privatization of a large ex-government manufacturing plant. This European acquisition has many moving parts and is substantial in size and strategic importance. The deal will allow ILUS access to some of the world’s largest free trade agreements, including the whole of Russia, China, European Union, and Eastern Europe, servicing a combined population of over two billion people, in some of the world’s largest economies and key markets which are in dire need of a technology refresh. This acquisition will also provide a high-quality, low-cost manufacturing base for higher volume ILUS products such as the kitchen fire suppression system, all Fire and Rescue products, and the E-Raptor electric utility vehicle. Immediate market potential includes the replacement of 400 fire vehicles over the next few years in order to bring the target acquisition country’s fleet up to the European EURO 6 standards. Currently, there is no manufacturer in the region that can deliver the requirement of meeting the latest engine and CO2 emissions standards.
• USA – ILUS is beginning to aggressively focus on the USA, where it plans to open a new factory in Ocala, Florida – the same location as three other major global Fire and Rescue companies. ILUS has short-listed the facilities of interest and plans to have the lease in place with factory set-up underway by the end of July, with the manufacturing facility in operation by late August 2021. This will be accompanied by two smaller Distribution/Support/Sales Centers on the East and West coasts of the US (ILUS is still reviewing its options for these facilities). The West coast facility will have a heavy emphasis on wildfire technology and a more customized range will be distributed from this location. These acquisitions form part of the larger US and Global strategy and will not be standalone acquisitions, with each acquisition directly benefitting other companies within the ILUS Group.
• Australia – Plans are in place and discussions underway to replicate the US West coast facility in the Australian market, which faces very similar wildfire challenges.

Technology

WaterMist
FireBug’s patented, disruptive WaterMist firefighting technology harnesses pulse-water engineering to create low-pressure, super fine water mist, with consistent droplet size and kinetic energy, to extinguish a fire and cool the substrate. WaterMist is the only solution in the world capable of extinguishing all classes of fire using only water and no additives, being designed for most fire risks (A, B, C, D, E, and F, although it is for use on non-oxidizing D class fires only).

Three solutions are available: single fluid, rotor, and twin fluid (Supersonic), which are tailored to customers’ specific risks. WaterMist technology has been incorporated into FireBug Group’s range of firefighting systems, including fire nozzles, fire skids, fire vehicles, and other technology.

How it Works
By applying low pressure, fine water droplets (WaterMist) over, around, and into the flame, ILUS WaterMist technology suffocates the fire. As the mist converts to steam it removes the oxygen, simultaneously reducing the temperature at the source of the fire, therefore eliminating the production of flammable gases (free radicals). Having removed the oxygen and cooled the fire, the flames are extinguished.

The water mist spectrum is defined by the National Fire Protection Association (NFPA) Code 750[49] as a spray with an average droplet size between 0.01 - 1,000 microns. Thus, any product producing droplets this size can be classified as “water mist”. By way of illustration, 0.01 micron droplet size is the size of steam droplets, while 1,000 microns is the droplet size from most shower heads. Clearly, droplets which are too small or too large cannot be effective in fire suppression or firefighting. ILUS WaterMist technology generates a consistent droplet size of around 50-75 microns, and never larger than 100 microns. There are very few known manufacturers in the market globally who produce a suitable droplet smaller than 100 microns at low pressure; most are between 250-400 microns. While legally, they are entitled to call their product water mist, it is clearly not the same in efficiency or effectiveness.

The WaterMist droplet equates to an excess of 1,910,828,025 droplets from 1 liter of water, producing a surface area of 60 m2. This provides a large surface area for the successful exchange of energy, approximately 2,592 kJ/kg, which is responsible for the rapid cooling of the fire.

The technology is at least 63% more efficient than conventional technologies, allowing responders to utilize much smaller, faster, and more economical response vehicles. Whereas conventional technology normally uses some 200 gallons of water to extinguish a car fire in about 90 seconds, FireBug technology can accomplish the same task in 7 seconds with only 10 gallons of water!



Products

Mist Nozzle line – Maxi and Mini [FireBug]
The MistNozzle line uses tried and tested micron technology to provide ultimate extinguishing and cooling with unrivalled levels of firefighter safety, and is the most water efficient nozzle on the world market today, approximately 65% more efficient than other comparative nozzles. Designed to be intuitive, the MistNozzle has one-click switch-function technology, allowing instantaneous transition between Jet Mode and WaterMist Mode. The plug-and-go functionality of the MistNozzle works with most existing hose reels and has been specifically designed to be quick and easy to use: simply attach the hose, select the correct mode, and open the nozzle – so instinctive that little or no training is required. With water being a valuable resource the world over, the MistNozzle deliberately uses less water during operation. Studies have shown a significantly increased efficiency in water usage during like-for-like product trials. The WaterMist absorbs 2,257 kj of energy per liter as compared to conventional technology, which absorbs 335 kj per liter.


Mongoose Attack Misting System (MAMS) [FireBug]
The Mongoose is a highly effective, safe, and cost-effective approach to suppressing and extinguishing compartment fires (such as fires which take place in a room or enclosed structure, under the hood of a vehicle, or in aircraft fuselage). The system comprises a revolutionary attack branch and a battery-operated hole cutting drill. The drill is used to gain access to the fire compartment remotely by breaching the structure (wall, door, window, etc.), allowing introduction of the attack branch through the hole created. The WaterMist technology employed by the Mongoose delivers 40-50 micron water mist droplets covering a large surface area into a compartment, which rapidly cools the area, scrubs the smoke, and suppresses the fire. Water mist droplets are transformed into steam by the heat which consumes energy, removes oxygen, and consequently cools the fire gases, inhibiting re-ignition. The Mongoose is capable of cooling a compartment fire from 1,300 F to 200 F within 60 seconds. Combination with thermal camera technology allows to monitor the heat within the compartment to allow entry once sufficiently cooled. The flow rate for the Mongoose is 13 GPM, meaning that it has the potential to cool and suppress compartment fires with only 13 gallons of water. The Mongoose is unique in that it can operate on an existing fire truck on existing hose lines, without requiring a separate pump and hose reel. It can, however, also be deployed with FireBug’s MistMax pump solution on existing vehicles, such as ILUS’s E-Raptor Electric Utility Vehicle or smaller vehicles such as pickup trucks or other utility vehicles. Other industry solutions require a separate high-pressure pump, hose reel, and often a dedicated vehicle, in addition to requiring a chemical additive or agent to be added to the water in order for it to be effective in firefighting.



BacPac portable WaterMist firefighting backpack [FireBug]

BacPac is a fire suppression water backpack which uses WaterMist technology. The BacPac delivers a consistent, low- pressure droplet flow using significantly less water, making it ideal for rapid response situations for firefighters as well as the trained public as an easy-to-use piece of personal firefighting equipment. The BacPac is perfectly suited to rubbish fires, shed fires, small car fires, bin fires, tire fires and more.



















RescueMax Rapid Response Vehicle [FireBug]

The RescueMax, a cost-effective first response firefighting vehicle ideal for urban and rural settings, combines two leading technologies: a first-class JCB Workmax all-terrain fire response vehicle, and a low-pressure WaterMist fire suppression system. The FireBug skid uses a highly resilient agricultural-grade pump and diesel engine combination and a unique, tri- function dispensing gun for foam & water to create a powerful, robust, hardworking firefighting system. RescueMax can incorporate a Premix or Foam Induction system to allow the safe and effective use of Foam or other liquid agents. The nozzle allows you to choose between the WaterMist or Foam options, depending on the type and size of the fire.



MistMax Firefighting Skid [FireBug]

The MistMax is a customizable WaterMist fire skid designed for UTVs or smaller firefighting vehicles, which provides world- class firefighting performance in an easy-to-use system. The MistMax is quick and easy to refill and maintain, and features a compact design for fast response, durable all-weather protection, proven pump and engine technology, and a revolutionary Mist/Jet nozzle.


MistMax Military [FireBug]

FireBug offers a comprehensive range of fully customizable military firefighting vehicles and skids, featuring a portable WaterMist and Jet firefighting solution.


Bespoke Fire Vehicles [FireBug]

FireBug continues to enhance its range of customized firefighting solutions with the addition of high-quality plastic fire vehicle bodies. Based on many years of experience in the manufacture of special vehicles, FireBug is able to develop and produce any type of special plastic body, with possibilities varying from the delivery of the superstructure alone, to a complete and fully equipped special vehicle. The plastic vehicle bodies are created from a highly durable and recyclable plastic material at a modern production facility using the latest technology and numerically controlled production line.

E-Raptor Utility Vehicle [E-Raptor]

The E-Raptor is the world’s first electric 6-wheel utility vehicle, designed and engineered as an environmentally friendly, reliable workhorse. It is specially designed to carry heavy workloads as required by industrial and agricultural users, while being versatile in on-road and off-road conditions. E-Raptor uses the most advanced battery technology (with an 80-km range on a single charge) mated to a refined automatic gearbox. With Spiral Sprung Suspension Technology as standard, the E-Raptor displays excellent driving control while carrying its maximum load weight of up to 1,200 kg. The steering control is optimized to allow comfortable handling, minimal turning circle radius, and excellent maneuverability. On-road and off- road tires are available. The E-Raptor has the lowest operating costs in its category. Available in yellow or red as standard (with other colors on special request), the E-Raptor is fully customizable by vehicle integrators. It is commonly customized into firefighting, medical, and maintenance/utility vehicles.




Maverick light portable pumps [FireBug]

Maverick is a versatile, robust Light Portable Pump (LPP), offering portable or fixed effective low-volume water mist or conventional high-volume water flow. The self-priming, petrol-driven, remote controlled Maverick LPP is designed as a multi-purpose firefighting pump, either portable or permanently mounted to a vehicle or skid. It has the capability of running a 19-mm hose reel or 1.5” Layflat hose either from a tank, lifting water from an open water source via hard suction, or operating from a pressure-fed supply from a hydrant or floating pump.




Floating pumps and strainers [FireBug]

ILUS’s floating pumps and strainers have been designed, together with Amphibio, for pumping water from flooded places, streams, ponds, and hard-to-reach sources of water.




Loyal Shareholder Base


ILUS International has amassed a large, loyal shareholder base of long-term investors (a rarity for stocks trading in the OTC). This support has been expressed in part through the creation of an ILUS long-term investor Discord group by @PiRickers (Twitter). Since its creation on 5/25/2021, the group has amassed a membership of over 750 shareholders and has become a hub for discussions of ILUS-related content, with the regular participation of and insights provided by numerous subject matter experts. Also, unique to any other OTC stock, the ILUS Discord curates Discord member questions and comments into a regular Q&A session with Nick Link and the ILUS team.

This information is from the Discord group it is free to join and can be accessed via the following invitation link without the spaces:


https: // discord.gg/ GAr9KwwkR8




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