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7.0. EDSR 07-14-1997 .6Ya � tuJJ • SolarAttic, Inc•0 24 Hours/day (612)441-3440 Fax(612)441-7174 15548 95th Circle NE,Elk River,MN 55330 Internet:http://www.solarauic.com Email: SolarAttic@aol.com City of Elk River EDA July 9, 1997 13065 Orono Parkway Elk River MN 55330 Dear Paul Steinman: Update Notice This is a short update. Call me if you have any questions concerning this information. Direct Public Offering (DPO) Our DPO is on! I now expect that the SCOR Prospectus will be posted on our web site on July 31, 1997. We will be offering from 100,000 to 200,000 shares of common stock to the public at $5.00 per share. Some stock issues like current valuation are not fully resolved yet but will be during the next three weeks. State filings will begin after July 31st. I expect that actual sales will commence some time during August. We already have a significant amount of investment interest expressed. State Filings It is the company's intent to bypass the state of Minnesota with our DPO. This is due to the uncertain (bureaucratic) securities regulatory environment. The only thing certain with Minnesota is that the public offering of stock favors companies with deep pockets for lawyer fees. SolarAttic, therefore, chooses to bypass the securities issues in Minnesota at this time. Initial state filings will most likely occur in California, Florida and New Jersey. We already have a significant amount of interest expressed in these states. Ultimately, about a dozen states may be filed in. The exact states that we will file in-have not been firmed up. Florida, for example, doesn't appear to currently accept SCOR DPO offerings. Additional research needs to be done before filing. Stock Bulletin Board A bulletin board system is being put into place for buyers and sellers of SolarAttic's stock. The board will be located at the Internet address of "http://www.solarattic.com/stock.htm". The way the board will work is that those who want to buy or sell our stock will either write, fax or email the information to SolarAttic. Once a day, the information on our web stock page will be updated to reflect a current list of buyers and sellers. The buyers and sellers can then freely contact each other to effect a transaction. Eventually, the page will just direct investors to exchanges or market makers. Generally speaking, all public stock and private stock over 2-3 years of age will be able to be posted at this site for sale. SOLAR Without PANELS The board will be activated when the company finishes the sale of its DPO. I'll keep you posted. You can also check our web site if you have an Internet connection. • Internet Site Our Internet site at "http://www.solarattic.com" is going through the roof. Last month, we had 13,629 hits which was over two times the 6,480 hits we had in May. As of July 4th, our site had transferred over 568 megabytes of information about SolarAttic. And, we are currently averaging around 3.5 megabytes of information transferred daily. This is a tremendous amount of information. Analyzing the site shows that the entire site is being explored intensely by a lot of people. It appears that the "educational" aspects of launching our new solar technology has now been effectively transferred to the Internet. Sales Actual sales year to date are down from last year but only for the moment. Jim Stanley has signed up a distributor based in Florida and we are expecting his first order for 10 pool heaters any day. We are still shooting for 100 sales by year end. Energy House A new energy house is being built in Elk River. Our new ventilation technology will be showcased at the house. Expected completion is September 9th. State Fair Once again we will be at the state fair home improvement building booth 19. We expect to display the ventilation system that is installed in the new energy house. The fair runs from August 21 through September 1. New Facility We are now in the new Elk River Business Center which is located at 16820 Highway 10, Elk River. Our offices are in Suite 130 and our manufacturing is in Suite 140. Our mailing address will remain unchanged until we find a permanent location. We have a two year lease in the new facility. Feel free to pop in for a tour at any time. If you have an Internet connection, you can visually tour our new facilities. There are 40 pictures of the facility on the site. Simply click "Company" at the bottom of any page. Then click "Background Info" and then "Tour New Facilities." Enjoy. Last Private Opportunity We can still accept private investments from existing investors. This means you can either exercise options or take a last shot. If you would like to take a last shot at our private stock before we go public, the stock is $1.00 per share. We will accept all investments of$1,000 or more. The funds will_be used to defray some of our DPO startup expenses. You will need to take action prior to July 21st if you want to take a last shot privately. There are many good things happening at SolarAttic; it is difficult to cover them all. However, before I get too deep into the DPO, I thought it would be good to share the above information with you. Thank you for being a SolarAttic shareholder. Sincerely yours, • Edward Palmer President Stockholder Update: July 9, 1997: Page 2 of 2 City of Elk River Page 1 of 1 Ez S=Ti`E .zN Fo . Cie57 of Eik Rtevert MN• i ;Hank Duitsman Welcome to the City of Elk River's web page... Email city Council Events Di Boards& Commissions Apt 411 City Dirt-c tot; Locution Maps I Email City Council I Meetings & Events Boards & Commissions I Departments I City Directory I Location Maps ©1997 City of Elk River. Last updated 7/9/97 • Boards& Commissions Page 1 of 1 Rim Boards commissions How ©1997 City of Elk River. Last updated 7/9/97 • • Boards& Commissions Page 1 of 1 S Location Maps ©1997 City of Elk River. Last updated 7/9/97 • • Departments Page 1 of 1 • Elk �F 1 Rim Department fp Economic Deveiopment ono Administration Demographic statistics, Licenses, ordinances, council minutes. community profile. ©1997 City of Elk River. Last updated 7/9/97 • Meetings&Events Page 1 of 1 S • ElAiver Meetings Events I ©1997 City of Elk River. Last updated 7/9/97 • • City Directory Page 1 of 1 A il+ l*il� sl Elk River City D1 re tory Komi ©1997 City of Elk River. Last updated 7/9/97 0 •