Disclosure NewswireTMiCrowdNewswire - Aug 23, 2016
Swimmers, surfers, and other water lovers number over 80 million in the United States alone, and they all have the same fear: shark attacks.
There are over 10 million private boaters based near oceans in the United States. They have no reliable device to keep sharks at a distance should they decide to enter the water.
The commercial fishing industry loses $50 billion worldwide every year to sharks attacking their catch. A typical commercial fisherman loses between 20-30 percent annually due to sharks. These attacks have driven commercial fishermen away from the best fishing grounds. As a result, fishing trips are longer and losses are greater.
All SharkStopper products operate on the same multi-patented acoustically driven technology. The core technology generates a specific underwater sound through the use of a watertight speaker or speaker array.
Repeated testing has proven that our technology will repel a predatory shark’s approach over a large area (approximately 5-40 meters) without adversely affecting the shark, the surrounding environment, or any other species of aquatic life.
SharkStopper has tested its patented frequency on many types of shark species in various parts of the world, each time achieving positive results.
- US 6,606,963( Personal Shark Repellent)
- US 7,037,153 (Surfboard Shark Repellent)
- US 7,302,905 (Shark Repellent for Boats)
- USTPO Serial# 62/167,608 (Commercial Fishermen Shark Repellent)
SharkStopper will repel sharks – even predatory sharks – at a distance of 5 to 40 meters depending on the device used. SharkStopper does so without adversely affecting human, shark, or other species of aquatic life in the surrounding environment!
- Patented acoustical frequency that repels sharks but does not harm them.
- A sensor that automatically turns the device on when it is in the water, and off when it is out of the water.
- A USB rechargeable battery that provides up to four hours of protection.
- A warning vibration to alert users the when battery charge is low.
- Adjustable strap to fit the leg of child or adult.
Personal Shark Repellent (PSR)
To maximize protection against a shark attack for anyone in the water, SharkStopper invented and patented the Personal Shark Repellent (PSR).
The statistics are compelling: 3.3 million people surfed in 2000. The boardsports industry is projected to hit $19.6 billion by next year. Over the last 6 years, one shark repellent company has sold over $10.4 millionworth of product.
Watercraft Shark Repellent (WSR)
There are over 10 million private boaters based near oceans in the United States. They have no reliable device to keep sharks at a distance should anyone on the craft decide to enter the water. For this audience, we have designed and patented the Watercraft Shark Repellent (WSR).
We have received numerous inquiries from the mega-yacht industry requesting a design to be incorporated into these larger yachts during construction or refit. Licensing opportunities like this will require very little effort but provide great margins.
Commercial Fishing Shark Repellent (CFSR)
The commercial fishing industry loses $50 billion worldwide every year to sharks attacking their catch. A typical commercial fisherman loses between 20-30 percent annually due to sharks (watch 45 second explanation here).
Our future product Commercial Fishing Shark Repellent (CFSR) can increase overall catch yield and profits for fishermen.
We will initially target vessels that are 20 meters or longer because they suffer the greatest losses and can most easily purchase, deploy and support the product. Worldwide, there are over 50,000 vessels in this category. We will market and sell to North American fishing fleets first and capitalize on successes to build a selective but global distribution reach.
There are over a dozen shark repellent products, yet most perform poorly when compared to the SharkStopper on these aspects: ease of use, price point, environmental safety, and efficacy. No competitor is effectively supplying the multi-modal, quickly growing shark repellent market. The competition is not providing a simple and cost effective product to water-sports enthusiasts.
A brief summary the competiton’s products:
Sharkshield™, from Australia, has been on the market approximately nine years and has sold approximately 16,000 units in the past six and a half years. This device operates by generating an electric current between an anode and cathode that are worn on the shoulder and foot. The Sharkshield has had success with SCUBA divers and is most adapted to that market.
Sharkdefense™ utilizes two separate approaches in repelling sharks. The first approach is disbursement of a chemical into the water while the second approach is an electropositive metal alloy (magnets) which gives off a passive electric fieldas a result of the corrosion of the metals. The chemical approach has limitations due to water currents and diffusion, as well as environmental and cost concerns if intended for long-term use. The chemical approach is only suited for short durations and local use during or after a shark attack. The magnet has a very limited range and strength. Numerous magnets need to positioned near each other and need to be renewed often to prevent corrosion from further reducing the protective potential.
SharkBanz™ is a product worn on the ankle or wrist which is purported to repel sharks. The effect of the magnets is stated that the product will turn away sharks in close proximity. However, the company’s website states “Sharkbanz are not designed to prevent sharks from eating visible bait. They have a hierarchy of senses and can override the electrical sense in the event that visible bait is present.” The SharkStopper can both deter sharks from an investigatory “hit and run” and also has been proven to turn away sharks from visible bait in blood-baited water.
SharkStopper aired on a segement of Discovery Canada. Watch the YouTube video here
SharkStopper will begin by selling the Personal Shark Repellent (PSR) and the Watercraft Shark Repellent (WSR). Part of the funds being raised will also go to further development of the Commercial Fishing Shark Repellent (CFSR).
We do not plan to distribute dividends in early years as the funds would be better reinvested into our growth. We are not speculating valuations but have provided average run rates based on both gross revenue and EBITDA along with multiples of those figures.
Our plan is based on the following assumptions:
- Securing funding.
- Acceptance of our solutions into the markets we are targeting as well as markets we have yet to target.
- Successful marketing, branding, positioning and adapting as relevant metrics become available.
- Reasonable growth in sales through the channels we focus on.
- Maintaining our advantages over competition, including size, cost, and ease of use.
- Successful relationships and growth with resellers/distributors.
- Hiring the best people, keeping personnel to the required minimum, and anticipating hiring needs in a timely fashion.
Any disruption to the above plan could affect SharkStopper’s speed of growth, ability to execute, and projected return to investors.
Top Spending Categories
- Sales & Marketing: Acquire end users through digital advertising, local area public relations and print campaigns, web banners, web search optimization, media releases and social media. This would include digital eCommerce, strategic partnerships, and traditional distributor to retail operations.
- Manufacturing & Development
- General & Administrative: Insurance, administrative payroll, rent, and other capital expenditures
As a thank you to our investors, anyone who invests $2,000 or more will get a Personal Shark Repellent (PSR) SharkStopper from our first production run. Anyone who who invests $5,000 or more will get a Personal Shark Repellent (PSR) and a Watercraft Shark Repellent (WSR). Delivery date to be announced.
*Note: As an token of appreciation for meeting certain investment thresholds, companies may offer perks to their investors. These perks are not a condition of the investment, nor are they part of the terms of the offering. FlashFunders is not responsible for the fulfillment of perks offered by SharkStopper, Inc.
Brian Wynne is the CEO & Founder of SharkStopper, Inc. Brian’s technical and executive managerial experience at both Wang Laboratories, Inc. and Standard Telephone, Inc. has given him the skills necessary to manage SharkStopper. Brian has designed and built two shark repellent products that will soon revolutionize this virtually untapped market.
Matt Kurke serves as the CFO and Treasurer of SharkStopper. Matt was the CFO of Livelook, Inc. from 2011, until acquired by Oracle in 2014. Matt graduated magna cum laude from Delaware Valley University and is a CPA and member of the Pennsylvania Institute of CPAs.
Ron Krupka has 30 years experience as VP and COO of large scale electronics and data manufacturing operations serving clients in both the DOD and the private sector. Ron has also been a key member or owner on various sized start ups a number of which are currently ongoing. Ron is an avid boater and certified diver who received a BS from SUNY.
Dr. Rusovici was elected to the American Institute of Aeronautics and Astronautics Technical Committee for Structural Dynamics and currently serves as an Assistant Professor of Aerospace Engineering at the Florida Technical University. Dr. Rusovici serves as a Scientific Advisor to SharkStopper and is a testing collaborator.
Marcus Yoder is a 20-year technology executive with extensive experience in new product and market development. Marcus holds a BA from the University of Tennessee, Knoxville, and an MBA from the University of Chicago Booth School of Business.