Financial technology ( Fintech) software development services company with products in the final stage of development. We currently have a services contract with a Credit Union in South America, to provide Core Bank Software and have finished Phase 1 of a three-phase project. Phase 1 was $1.8m and will be completed in January. Phase 2 contract negotiations are beginning and there may well be a 3-month delay in revenue from the second phase. The second Phase will be $2.5m with a substantial profit margin. We need a bridge funding mechanism to continue the project.
In addition, we have an R&D division that has developed a full end-to-end Auto Sales and Lending Platform that will allow individuals, dealers, and commercial equipment dealers to easily sell and finance cars and commercial equipment. The lending platform will allow multiple lenders to compete to provide loan and leasing options to these customers. There is also an inspection and escrow component for used equipment. The creators of the escrow component for eBay Motors designed this product.
A second product, Inpector AI will be completed in Q1 of 2024. It is a workflow SaaS platform that allows any company that requires inspection services to use their workflow in combination with our AI engine to fully automate their processes and save millions of dollars in manual inspections. Roofing companies, pipeline inspectors, and insurance companies needing to validate claims are target industries to use this platform. We have an API for drone companies that will provide immediate and automated drone inspections.
Funds will be used to bring these products to market and market them to the appropriate industries. The Services project in South America will provide additional funds to facilitate product and platform sales.
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