Speed Check Mate, Inc
Newport News, VA 23602, US
The company is a C-Corp and will manufacture and sell speed check devices for the automobile/trucks that operate on the roads of America. A constant comparison of the speed limit and the speed of the vehicle will be displayed on the dash.
Drivers throughout the US are incurring speeding tickets at the rate of 116,000 per day with an average speeding ticket cost of $175. Urban speeding tickets accounted for 67% of all tickets and the average speed above the speed limit was 12 mph. Having this product in the car and displayed prominently will change driving habits and eliminate speeding tickets. This unit is not a GPS direction device. Its purpose is to monitor the drivers speed and display the cars speed beside the local speed limit displayed on the device.
The company is offering investors 25% equity in the company in exchange for an investment of $75,000 in Phase 1 and $100,000 in Phase 2. Phase 1 equity investment will be used to develop the software that will be the operating system of the device, production of the first 110 units, website development, facility setup, and patent filing expenses. Phase 2 equity will be used to fund inventory and hiring employees,
The software will provide the tool to manage the display of road map traffic speed limits, speed of the vehicle, power management, and operating instructions of the device. Funds will also be used to design and manufacture the enclosure of the system board and display. Patents will be applied for after the device has been developed and manufactured. Trademark protection on the product name has been applied for. Sales will be generated through a website, direct to retail, and licensing.
Products / Services
Speed Check Mate (Trade marked)
The device will present to the driver of the vehicle a screen that shows the current speed limit and the speed of the car. This device will sit on the dash and be battery/solar/electric powered. Maps will reside in the device and have the current status of speed limits available throughout the US.
I have received a proposal from a software/hardware firm to develop the product. It will cost approximately $60/unit to manufacture and the retail price will be $119. Production costs will be reduced by 20% once full production is in place producing a cost of $48/unit.
President Executive Officer
I have over 40 years of senior management experience in technology and service companies.