Letter to Shareholders

Nearly our entire portfolio of startups made great strides in progress in 2022 and are off to great start in early 2023.

Our single focused bioelectric stimulator platform technology is packaged in different packages with at times when needed different organ interfaces for particular applications like skin, ED, hair. It is all the same product, often times with the exact same signals, just pointed to different places on the body.

1.  We believe we have patented and developed the most advanced technology platform in the world for reversing aging and staving off aging related ailments. Patented bioelectric signals for klotho expression and patent pending licensed for klotho expressing MSCs.  Patented signals for inflammation modulation.  Patent pending signals for controlled up regulation of Sirtuins, Sestrins and NANOG powerful anti-aging and aging reversal proteins.  In short we believe we have developed technology that has potential to reverse biological age in humans by up to 5 to 20 years.

2.  We believe we have patented and developed the most effective technology platform ever developed for total and complete regeneration of organs including the heart, heart valves, aorta, lungs, brain, liver, kidney, bladder, pancreas, sexual organs, skin, hair, eyes and more.

3.  We believe our 12 issued patents and corresponding technology platform for bioelectric cancer treatment have great chance to make a major impact in providing a less toxic treatment alternative for cancer patients with a strong possibility to have higher efficacy with less side effects.

4.  We believe in 2022 we made great strides in developing technology to down regulate FABp4 and up regulate klotho to make a major dent in helping people to reverse out of both type I and type II diabetes.

5.  Five (5) of our accelerator program graduates moved out of R&D stage into commercial stage of development with FDA 510K clearances in place. SkinStim, HairCell, ErectiStim, OrthoStim and BodStim have entered a distribution and sales agreement with Lionheart Health, Inc. to launch the sales of these products in the USA and OUS markets. Sales of these products are forecasted to be over $7 million in 2023.  Shareholders of these portfolio innovation assets will now receive an 8% royalty on all full price sales and 5% on discounted sales made with quarterly disbursements pro-rata.

Intellectual property of our Portfolio Startups

Portfolio Group	2022 Milestones	2023 Plan
Heart & Cardiovascular	Second Heart completed transition to new cGMP manufacturer and filed EFS application. Got 21 new patent claims with USPTO.  Filed hundreds of new patent claims for multi-generational pipeline including Regenerator TM first therapeutic pump.    BioLeonhardt launched new round of large animal studies and further developed pump and implantable stimulator. Licensed patent for klotho expressing MSCs.    Valvublator built new simplified design test prototypes.    PressureStim launched OUS clinical study with IRB approval. PressureStim won clinical research grant.	Second Heart will complete 5 more large animals at GLP lab.  Will completed up to 15 CRS heart failure cases in Canada.  Will completed 10 EFS cases in USA.    BioLeonhardt will complete 5 large animals and first in human OUS study.    Valvublator will complete 3 large animals and first in human OUS pilot study.    PressureStim will complete clinical studies and will file for CE mark and FDA 510K clearance.
Brain Neuroscience	SpineStim completed U.S. pilot study.    DepressiStim completed pre-clinical studies and filed patent claims for BNDF, serotonin up regulation and TNFa down regulation. Filed with IRB to begin clinical studies.  Landed research grant at UCI Engineering gaining 4 Masters Engineering students of 6 months.    Patent for bioelectric klotho issued helping all brain portfolio startups.    2nd generation BrainBand TM design initiated.	SpineStim launch long duration dosing study with BodStim suit.    DepressiStim complete OUS pilot study and launch USA pivotal study. File 510K application. Complete longer dosing and longer signals    Launch MemoryStim OUS pilot study.    Launch TremorStim OUS pilot study.    Complete development and testing of 2nd generation BrainBand TM design working with UCI Engineering students.    Launch Second Brain pilot clinical study.
Cosmetic & Personal Care	Completed U.S. SkinStim pilot study.    Completed U.S. HairCell pilot study.    Filed 510K application with the FDA for OrthodontiCell    Launched KlothoYears blood test commercially.    Filed new patents for BMP9 bone integration based on pre-clinical data.    Completed 2nd Stem Cell Bra clinical study.    Filed FDA 510K pre-sub for ErectiStim TM.    ArchStim prototypes developed and additional patent claims filed.     BreatheStim engineering design completed.  Prototype build quote received.    ImplantStim mouthpiece further developed and patent application prepared.	SkinStim, HairCell, ErectiStim launching commercially on USA market via Lionheart Health, Inc. non-dilutive to their shareholders.  8% royalty on full price sales. 5% royalty on discounted sales.    OrthodontiCell will complete U.S. pivotal clinical trial.    Stem Cell Bra will launch pivotal  clinical study.    ArchStim will launch pilot clinical study.    BreatheStim will complete development of 2nd generation devices and will launch 2nd pilot clinical study.    ImplantStim will launch pivotal clinical study.
Major Organ Regeneration	Completed 3rd BladderCell study OUS.    BladderCell and B-Alive developed 2nd generation wearable design.    Completed 2nd KidneyCell study OUS. Laid foundation for grant supported study.    Began enrollment in 3rd EyeCell study. EyeCell one button software designed.    PancreaCell completed pre-clinical studies and filed new patent application for diabetes reversal with FABp4 inhibition and klohto up regulation.    OrthoStim reached out to numerous potential commercialization partners. Linked up with team in Brazil that has completed already similar clinical studies.    BodStim TM by BIoLeonhardt Whole Body launched commercially via Lionheart Health, Inc.    ReganLung filed patent for lung recovery in COVID-19 and other viral infection patients.	BladderCell and B-Alive will complete clinical study with wearable  2nd generation design and will file for FDA 510K.    KidneyCell will complete longer duration dosing study with BodStim TM.    EyeCell will complete 3rd clinical study and will file FDA 510K application.    PancreaCell will launch OUS clinical study for diabetes reversal.    OrthoStim will commercially launch worldwide and will gather post market data on efficacy.    BodStim TM will develop sales and will continue to gather post market data.  BodStim TM will develop new simpler to use software and will implement app download capability for re-occurring revenue stream forward.
Cancer	12th issued patent for bioelectric cancer treatment.	Launching clinical studies OUS.   Will complete additional pre-clinical studies.

Forward Looking Statements
This press release contains forward-looking statements that are subject to many risks and uncertainties. Forward-looking statements include, among other things, references to regulatory discussions in Japan, additional sites participating in the Company’s clinical trials, the efficacy and safety of our products and therapies, preliminary conclusions about new data, the achievement of any of the anticipated upcoming milestones, statements regarding our intentions, beliefs, projections, outlook, analyses or current expectations. Such risks and uncertainties include, among others, the inherent uncertainties associated with developing new products or technologies, regulatory approvals, unexpected expenditures, the ability to raise the additional funding needed to continue to pursue Leonhardt Venture’s and its portfolio business and product development plans, the ability to enter into licensing and partnering arrangements, and overall market conditions. We may find it difficult to enroll patients in our clinical trials due to many factors, some of which are outside of our control. Slower than targeted enrollment could delay completion of our clinical trials and delay or prevent development of our therapeutic candidates. These forward-looking statements are made as of the date of this press release, and Leonhardt Ventures LLC, Cal-X Stars Business Accelerator, Inc., Leonhardt’s Launchpads, Lionheart Health, Inc. and our portfolio of startups assumes no obligation to update the forward-looking statements.

We may use terms such as “believes,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should,” “approximately” or other words that convey the uncertainty of future events or outcomes to identify these forward-looking statements. Although we believe that we have a reasonable basis for each forward-looking statement contained herein, we caution you that forward-looking statements are not guarantees of future performance and that our actual results may differ materially from the forward-looking statements contained in this press release. As a result of these factors, we cannot assure you that the forward-looking statements in this press release will prove to be accurate. Additional factors that could materially affect actual results can be found in our PPMs and our Annual Reports under the caption titled “Risk Factors.” Leonhardt Ventures LLC, Cal-X Stars Business Accelerator, Inc, Leonhardt’s Launchpads and Lionheart Health, Inc. all expressly disclaims any intent or obligation to update these forward-looking statements, except as required by law.