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TallyHo Ventures, Inc.

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Title: TallyHo Ventures, Inc.


1
Tally-Ho Ventures, Inc.
November 2006
2
Forward-Looking Statements
This presentation contains forward-looking
statements within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the
Securities Act of 1934 that are based upon
current expectations or beliefs, as well as a
number of assumptions about future events.
Although the Company believes that the
expectations reflected in the forward-looking
statements and the assumptions upon which they
are based are reasonable, it can give no
assurance that such expectations and assumptions
will prove to have been correct. The reader is
cautioned not to put undue reliance on these
forward-looking statements, as these statements
are subject to numerous factors and
uncertainties, including without limitation, the
independent authority of the special committee to
act on the matters discussed, the successful
negotiation of the potential acquisition and
disposal of transactions described above,
successful implementation of the Company's
business strategy and competition, any of which
may cause actual results to differ materially
from those described in the statements. In
addition, other factors that could cause actual
results to differ materially are discussed in the
Company's most recent Form 10-QSB and Form 10-KSB
filings with the Securities and Exchange
Commission.
3
Executive Summary
  • Tally-Ho Ventures, Inc. (Tally-Ho or the
    Company) is a forerunner and leader in the
    globalization of the niche Private Wealth
    Management arena for mid wealth and high net
    worth individuals and families throughout Europe.
    The Company currently has two properties with
    assets under management of 1.8 billion and
    recurring revenues and earnings of 17.5 million
    and 5.0 million, respectively.
  • Tally-Ho will continue to execute its strategy of
    growth through acquisition and integration. To
    this end, Tally-Ho will acquire a number of
    established specialty managers that currently
    have limited growth due to their specialization
    in a single product and region. Tally-Ho will
    integrate these companies under one umbrella and
    brand and therefore have new and additional
    products available to these specialists. The
    entire concept of branding assumes that there
    will be name identity therefore Tally-Ho will
    change its name to Finance Pro, Inc., and execute
    a multi-national marketing program that will make
    Finance Pro, Inc., a household name for high and
    mid wealth individuals and families.
  • Tally-Ho is offering qualified investors an
    opportunity to participate in this growth through
    the purchase of a 3.5 million Convertible
    Preferred Security.

1
4
The Company
  • Tally-Ho is a Private Wealth Management company
    with combined assets under management of 1.8
    billion. The Company recently acquired two
    companies and currently has recurring revenue and
    earnings of 17.5 million and 5.0 million,
    respectively.
  • Tally-Ho has three offices in Europe and is
    authorized to operate in 23 countries. Tally-Ho
    provides, through its subsidiaries, a broad range
    of services
  • Financial Counseling Investment Management
  • Asset Allocation Corporate Services
  • Estate Planning
  • Tally-Ho will continue its plan of growth through
    acquisition and integration and has identified
    two established acquisition targets. Post
    acquisition, Tally-Ho will have 5 offices, 2.8
    billion under management and recurring revenue
    and earnings of 22.5 million and over 8
    million, respectively.

2
5
Current Properties
  • As part of its roll-up strategy, Tally-Ho has
    acquired, and wholly owns, two properties and
    currently has 1.8 billion under management.
  • Master Finance is Belgium and Luxembourgs No. 1
    distribution company of investment products with
    800 million assets under management. Tally-Ho
    acquired Master Finance in February 2006 for 3
    million cash and stock. Master Finance
    contributes annual revenues of 7.5 million and
    net profits of 1.5 million.
  • Master Trust SA (Formally Protrust Private
    Clients) is one of Switzerlands largest
    fiduciary companies with more than 1 billion
    assets under management. Tally-Ho acquired
    Master Trust on August 12, 2006 for 8 million in
    cash and stock. Master Trust contributes annual
    revenues of 10 million and net profits of 3.5
    million.

3
6
Current Properties Master Finance
  • Master Finance, based in Belgium and Luxembourg,
    was established in 1977 and is the Companys
    Private Wealth Management organization.
  • Insurance brokers, management and organization of
    patrimony (tax system, transmission, revenues)
    through a variety of products.
  • Capital under management /- 800 million.
  • 2006 product sales 150 million.
  • 4,500 clients in Belgium.
  • Average investment 250,000.
  • 200 insurance brokers.
  • 20 internal and independent sales staff.
  • Low fixed cost structure all work on commission.
  • Annual revenues of 7.5 million and net profits
    of 1.5 million.

4
7
Current Properties Master Trust
  • Master Trust SA, a leading fiduciary company
    based in Switzerland, has been conducting
    business since 1992 and is a discretionary
    manager of leveraged single premium insurance
    investments for the high net worth investor and
    is the companys most recent acquisition.
  • Authorized Trust Company.
  • More than 1 billion in Assets.
  • More than 2,000 clients.
  • Seven staff members.
  • Significant recurring income.
  • New services in-house bank accounts, mortgages,
    credit card.
  • Annual revenues of 10 million and net profits of
    3.5 million.

5
8
Strategy Growth Through Acquisition and
Integration
  • Tally-Ho will continue to acquire properties in a
    roll-up strategy, and increase assets under
    management. The Company has identified two
    acquisitions and has signed letters of intent for
    the purchase of each company.
  • Tally-Ho will acquire a number of specialty
    managers that have limited growth because of
    their specialization in a single product and
    region. Tally-Ho will integrate these companies
    under one umbrella and brand and therefore have
    new and additional products available to these
    specialists. The entire concept of branding
    assumes that there will be name identity
    therefore Tally-Ho will change its name to
    Finance Pro, Inc., and execute a multi-national
    marketing program that will make Finance Pro,
    Inc., a household name for high and mid wealth
    individuals and families.
  • Under its new name, Finance Pro Inc., the Company
    will continue to develop its brand as a leader
    in the globalization of Private Wealth Management
    throughout Europe and internationally.

6
9
Investment Products and Services
  • Tally-Ho currently manages 1.8 billion and has
    three offices in Europe and is authorized to
    operate in 23 countries. Post acquisition of the
    proposed target companies, Tally-Ho will have 5
    offices in Europe, 2.8 billion under management,
    a sales force of 500 brokers, and over 10,000
    clients. Although each individual company
    currently specializes in a specific segment or
    product, Tally-Ho will integrate these companies
    and services into each subsidiary company thereby
    expanding products and services and provide new
    growth to each subsidiary. Through its
    subsidiaries Tally-Ho provides the following
    investment services to its clients.
  • Investment Management
  • Investment Performance evaluated on a weekly
    basis.
  • Clients receive quarterly statements.
  • Asset allocation
  • Following completion of the Discretionary Mandate
    Agreement, (DMA), client profile evaluated and
    sent to Estate Planning Department.
  • Estate Planning and Financial Counseling
  • Based upon DMA, investment products and funds
    evaluated for client.
  • Corporate Services
  • Distribution of insurance products or funds.
  • Offshore bank accounts and mortgages also
    available.

6
10
Target Acquisition
  • Primus SA A specialty Asset management Company,
    Primus manages leveraged single premium insurance
    investments and 500 million in assets under
    management and has annual profits of
    approximately 1 million.
  • Acquisition cost Total consideration of 2
    million allocated as follows 1 million in cash
    plus an earn out of the Companys shares of up to
    1 million provided the Primus achieves minimum
    profits of 1 million one year from acquisition.

7
11
Primus SA
  • Established in 1995 Primus SA (PSA) was set up
    specifically to manage leveraged single premium
    insurance investments for high net worth
    investors, under the terms of a Discretionary
    Management Agreement. Over the last five years,
    PSA has built up a significant portfolio of funds
    under management, which generate a substantial
    ongoing revenue stream. PSA is a fully
    authorized Fiduciary company, subject to the
    regulatory control of the Swiss Cantonal
    Government (OAD FCT). As such Master Trust will
    be able to offer the full range of services to
    clients including full discretionary management
    holding clients assets in the companys name
    trading for clients over a wide range of assets
    including investments and real estate. PSA has
    successfully acted as an interface between UK and
    Offshore life offices and independent
    intermediaries in Italy, Switzerland and the Far
    East and is regarded as one of the founders of
    leveraged With-Profits business. Funds have
    grown to over 500 million with annual profits of
    over 1 million. Tally-Ho will appoint industry
    specialist advisors to the board of PSA in order
    to look at re-allocating these funds into higher
    performing, and higher revenue yielding funds.

9
12
Integration and Branding
Finance Pro, Inc.
  • In the near term, Tally-Ho plans to rename the
    Company more appropriately to Finance Pro Inc.
    The name change is one step in the Companys
    overall strategy to
  • Be better positioned for expansion plans.
  • Develop and exploit the international brand
    image of Finance Pro Inc. via an
    integrated marketing campaign with the Companys
    subsidiary businesses.
  • Become a household name via the Companys
    diverse product portfolio offered to high
    and mid net worth individuals and families.
  • Continue organic growth of the Companys
    subsidiaries.

10
13
Projected Income Statement
TALLY HO VENTURES, INC
PROJECTED CONSOLIDATED STATEMENTS OF INCOME FOR
THE YEARS ENDED 31 December 2005 to 2009
Actual
Projected
Projected
Projected
Projected
2005
2006
2007
2008
2009
Commission and Advisory Fees Received
5,528,924
13,458,872
22,575,115
24,800,121
32,342,734
Commission Paid to Advisors
-2,541,322
-6,015,536
-8,567,561
-8,692,974
-12,138,036
Gross Profit
2,987,602
7,443,335
14,007,554
16,107,147
20,204,698
Operating Expenses
Remuneration Social Security
-634,906
-2,330,763
-1,958,680
-2,022,171
-2,655,807
Administrative Expense
-763,178
-1,899,621
-2,114,805
-2,180,329
-2,947,377
Depreciation Financial Expense
-94,999
-265,617
-312,997
-289,496
-434,055
Income from Operations
1,494,519
2,957,334
9,621,071
11,615,151
14,167,459
Other Revenues/Expenses
Interest Revenue
17,029
35,693
57,899
69,819
81,705
Interest Expense
-91,589
-78,767
-92,814
-72,337
-121,959
Other Financial Expense
-81,382
-73,244
-43,935
-20,902
-69,040
Provisions for Income Tax
-342,086
-470,489
-1,163,092
-1,060,467
-1,447,024
Minority Interest
-84,406
-25,828
Net Profit
912,085
2,344,700
8,379,129
10,531,264
12,611,141
Average Number of Shares Outstanding
8,650,624
17,000,000
18,000,000
18,000,000
18,000,000
Net Income Per Share
0.11
0.13
0.47
0.59
0.70
NOTES
1
2
2006 Income included Master Finance Holdings SA
for 12 months, Master Trust SA for months
.
3
2007 Income includes 12 months for Master Finance
Holdings SA Master Trust SA and Primus with an
estimated increase of 20 in sales.
4
2008 shows a 10 increase in revenue but expenses
reduced following the full integration of all 3
companies.
5
2009 shows the company with a full private
banking license.
13
14
Projected Balance Sheet
TALLY-HO VENTURES,
INC
PROJECTED CONSOLIDATED BALANCE SHEETS December
31, 2005 To 2009
Actual
Projected
Projected
Projected
Projected
2005
2006
2007
2008
2009
ASSETS
CURRENT ASSETS
Cash and Cash Equivalents
1,389,555
3,406,892
8,410,042
1,321,486
10,657,756
Other Current Assets
3,487,136
9,213,660
12,219,224
10,332,375
11,672,400
TOTAL CURRENT ASSETS
4,876,691
12,620,552
20,629,266
11,653,861
22,330,156
Other Assets
1,489,848
6,465,679
7,462,445
8,949,581
11,171,277
TOTAL ASSETS
6,366,539
19,086,231
28,091,711
20,603,442
33,501,433
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
5,100,635
5,991,096
6,446,857
7,244,630
7,795,543
TOTAL SHAREHOLDERS' EQUITY
1,265,904
13,095,135
21,644,854
13,094,749
25,705,890
LIABILITIES AND SHAREHOLDERS' EQUITY
6,366,539
19,086,231
28,091,711
20,603,442
33,501,433
14
15
Projected Valuation Analysis
TALLY-HO VENTURES, INC.
PROJECTED VALUATION ANALYSIS FOR THE YEARS ENDED
31 DECEMBER 2005 to 2009
Actual
Projected
Projected
Projected
Projected
2005
2006
2007
2008
2009
Average
Growth Rates
Revenues
180
46
10
30
66
Net Profit
386
89
26
20
130
EBITDA Per Share
67
80
20
23
47
Earnings Per Share
134
89
26
20
67
TLYH Projected Valuation
At 3 X Revenues
67,725,344
74,400,362
97,028,201
133,472,612
1
Projected Price Per Share
1.85
3.76
4.13
5.39
7.42
At 10 X EBITDA
99,340,681
119,046,471
146,015,134
194,757,497
1
Projected Price Per Share
1.85
5.52
6.61
8.11
10.82

Current Price/EBITDA Per Share
10.07
6.05
3.36
2.80
2.28
Revenue
5,528,924
13,458,872
22,575,115
24,800,121
32,342,734
44,490,871
Cost of Goods Sold
-2,541,322
-6,015,536
-8,567,561
-8,692,974
-12,138,036
-17,114,631
Gross Profit
2,987,602
7,443,335
14,007,554
16,107,147
20,204,698
27,376,240
Operating Costs
-1,398,084
-4,230,384
-4,073,486
-4,202,500
-5,603,185
-7,900,490
EBITDA
1,589,518
3,212,951
9,934,068
11,904,647
14,601,513
19,475,750
Interest, Taxes, Deprec. Amort.
-677,433
-868,251
-1,554,939
-1,373,383
-1,990,372
-766,122
Net Profit
912,085
2,344,700
8,379,129
10,531,264
12,611,141
18,709,628
Average Number of Shares Outstanding
8,650,624
17,000,000
18,000,000
18,000,000
18,000,000
18,000,000
EBITDA Per Share
0.184
0.189
0.551
0.661
0.811
1.081
Net Income Per Share
0.105
0.130
0.466
0.585
0.701
1.039
NOTES
1
Current Price per Share as of October 19,2006.
2
For the purpose of arriving at the valuation for
2009, an additional projection for the year 2010
has been made
and such projection is based on average growth
and are not based on evaluated budgets.
3
Unusual increase in growth in the year 2006 is
due to two new acquisitions .
4
Valuations are based upon one year forward
Revenues and EBITDA.
15
16
Projected Valuation Analysis
16
17
Management Team
  • Jose Meleth, Chief Financial Officer
  • Mr. Jose Meleth is Vice President, Treasurer,
    Chief Financial Officer and Secretary of the
    Company and is also a member of the Board of
    Directors. He obtained his Bachelors Degree in
    Commerce in 1987, Masters Degree in Commerce in
    1989 and Bachelors Degree in Law in 1991 from
    Mahatma Gandhi University. He obtained his
    Masters Degree in Law from Bombay University in
    1997. A qualified accountant, Mr. Meleth's
    accomplished finance career includes roles as
    auditor and counsel to the Ministry of Finance,
    Government of India. He has participated in the
    investigations for the Bombay Stock Exchange
    Securities Division and acted as auditor in
    numerous securities transactions. Mr. Meleth
    joined Intervest Limited in 1998 as chief
    accountant and advanced to the post of chief
    financial officer and finance director in 2000.
  • Currently he is director of several companies
    based in several countries, overseeing the
    finance, credit, operations, payroll, legal and
    lending areas. Mr. Meleth is a member of the
    International Bar Association, London, the
    Institute of Directors, London, the Chartered
    Insurance Institute, London the Association of
    International Accountants, London and the
    Institute of Financial Consultants, USA.

18
18
Management Team
  • Nigel Gregg, President,CEO AND Chairman
  • Mr. Nigel Gregg is President and Chief Executive
    Officer, and a member of the Board of Directors
    of the Company. Mr. Gregg has over 15 years
    experience in the financial services industry. He
    started as a trainee accountant for KPMG, Dublin
    and in five years he became a fully qualified
    Certified Accountant. In 1995 he joined as
    financial controller with Quality Goods
    International, a large distribution company based
    in Dublin.
  • In 1999, Mr. Gregg joined Prudential
    International, as an accountant. In 2001 he moved
    departments within Prudential International and
    joined the newly formed international division of
    Prudential International, looking to promote
    sales of its product within Europe. Mr. Gregg was
    responsible for developing business opportunities
    in Europe. He spent the last three years
    establishing relationships with distributors,
    which now represent 40 of Prudential's
    international sales.

19
19
  • Tally-Ho Ventures, Inc.
  • 115 Route d'Arlon
  • L-8311 Capellen
  • Luxembourg
  • Tel 35226301540 Fax
    35226301545
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