New equity is sought to provide the working capital to deliver against the early orders of the AdDryer, launch the range internationally and new staff acquisitions. Our well-experienced executive is positioning the company for a trade sale or IPO by 2020.
1) Manufacturing of 500 AdDryers for launch of 'ambassador program' - $320,000
2) R&D & IP -$140,000
3) Working capital, operational costs, PR, Marketing - $270,000
4) Overseas distribution supplier expansion (EU, USA, UAE, Far East - $70,000
5) Total - $800,000