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| Company | The Business Venture This business plan has been prepared in order to raise the financing necessary to further develop, to manufacture and to distribute a new electronic product that has wide spread industrial, commercial and consumer applications. The new product, which is called "Bright-Guard" will automatically turn lights on and off when the ambient light in a room reaches a predetermined level. The increasing concerns about security, personal safety, energy conservation and the general trend towards automation has created a market for devices which reduce or eliminate the problems associated with manual control of lighting systems. Homes, offices, factories, hospitals, schools, public buildings and construction sites are only a few of the more obvious applications. Bright-Guard will be particularly valuable in remote or unattended locations. The idea for the product was conceived by Mr. George as a result of numerous inquiries received by Mr. George's present employer for a simple, automatic bright control device. Mr. George's employer is not involved in the lighting or light control marketplace and is not interested in developing a product or entering the marketplace because of other commitments and business priorities. Mr. George has received permission from his employer to pursue the development of the product as a private venture providing that the venture does not interfere with the employer's business. Mr. George has contacted various prospective users of the product to determine product requirements and develop specifications. An engineering prototype of the product has been developed to date. The prototype was developed by Mr. George in his spare time with limited resources. Approximately $310,000 is required to complete the development of the product, to set up manufacturing and to establish a sales and marketing program. The $310,000 will be supplemented by revenue generated from sales of the product to cover the total financial requirements for the first year of operation. The business will be self-sustaining by the end of the first year of operations. Bright-Guard Ltd. is prepared to offer common
(voting) shares in return for the investment. Bright-Guard Ltd. is also prepared to
consider other forms of financing such as debentures, preferred shares or other
arrangements. |
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